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23Sep 2019
  • The refactoring frame-work contract for the ECCAIRS system, developed by Softeco, will be on a three-year basis for a total amount of approximately Euro 3.5 million.
  • The new E2 platform will assist national and European transport bodies in collecting, sharing and analysing their information, in order to improve the safety of civil aviation transport.

TerniEnergia, smart company listed on MTA of Borsa Italiana and part of the Italeaf Group, announces that the Group’s digital company, Softeco Sismat, in partnership with Fincons S.p.A., has won the tender launched by EASA (European Aviation Safety Agency) based in Cologne (DEU) for the development of a new platform for aviation transport safety based on the refactoring of the ECCAIRS system.

The three-year frame-work contract (2019-2021) provides for the assignment of works to three different groups, for a total amount of Euro 3.5 million.

The consortium formed by Softeco and Fincons S.p.A., an international IT consulting firm, will develop and implement the new platform to be called ECCAIRS 2.0 (in short E2).

The refactoring of the current version of ECCAIRS (European Coordination Centre for Accident and Incident Reporting Systems) in a completely new version, using the latest technologies, is the main objective of the E2 project. The decision was taken by the European Commission Directorate-General DG Move, which will transfer the management of the ECCAIRS suite from the Joint Research Centre (JRC) in Ispra (Varese) to EASA from 2020.

Softeco Sismat, a digital company of the TerniEnergia Group (which in its industrial turnaround process also focuses decisively on the sectors of emobility, sustainable and safe management of transport and digitization and electrification of the mobility chain), has developed, since 1995, the original platform ECCAIRS. It is a solution composed of different applications, with advanced features designed to assist national and European transport authorities in collecting, sharing and analyzing their safety information in order to improve the safety of civil air transport, under the auspices of the Joint Research Centre (JRC) in Ispra (VA).

 

TERNIENERGIA (TER. MI), established in September 2005 and part of the Italeaf Group, is the first Italian global technological enabler, committed to bringing energy solutions and efficient recovery of integrated and sustainable resources to the world. Organized into two strategic business lines (Assets and Smart solutions and services), with about 300 employees and a geographical presence worldwide, with operative and commercial offices, TerniEnergia develops innovative solutions, products and services based on digital and industrial technologies for the energy supply chain, grids, smart mobility, industrial automation and the recovery of marginal resources. TerniEnergia, also through its subsidiaries (Softeco Sismat, Greenled Industry, GreenAsm, GreenAsm, Purify, Wisave, Ant Energy), pursues the objectives of increasing energy production from renewable sources, saving energy and reducing emissions and actively participates in the energy revolution of distributed power generation and smart grids, with innovative digital solutions.

TerniEnergia is the ideal partner for large utilities, distribution operators and network operators, energy producers, public administrations, industrial customers and investors who intend to realize large projects for the production of renewable energy, modern systems and plants with high energy efficiency, solutions for the management and maintenance of infrastructure and electrical installations. TerniEnergia has completed its transformation from a leader in the international photovoltaic market into a smart energy company and technological enabler for the sustainable use of resources through a complete commercial offer of solutions, the development and supply of digital technologies and the creation of “intelligent” services and solutions aimed at public and private customers in emerging sectors.

TerniEnergia is listed on the MTA of Borsa Italiana.

 

21Sep 2019

Enlarge this imageVirginia Gov. Ralph Northam speaks at a news meeting at the governor’s mansion earlier this month in Richmond.Alex Edelman/Getty Imageshide captiontoggle captionAlex Edelman/Getty ImagesVirginia Gov. Ralph Northam speaks at a news convention with the governor’s mansion before this thirty day period in Richmond.Alex Edelman/Getty ImagesUpdated at 6:57 p.m. ET Virginia Gov. Ralph Northam has told his staff members that he will not intend to resign his place of work, his communications director, Ofirah Yheskel, advised NPR member station WCVE Friday.The declaration will come approximately per week following a racist yearbook photograph despatched Virginia’s Capitol into disarray and as most state lawmakers decamp Richmond again to their residence districts for that weekend. They https://www.76ersedge.com/Mattise-Thybulle-Jersey leave a point out funds that continues to be deeply divided soon after lengthy, hectic days of loud outrage from critics and anxious silence from allies of the embattled governor. Following in line with the governorship is Lt. Gov. Justin Fairfax, that is now struggling with two sexual a sault allegations courting to 2000. And guiding him is Attorney Normal Mark Herring, who admitted to working with blackface in a decades-old incident, also.Nationwide 2nd Accuser Arrives Ahead Towards Virginia Lt. Gov. Justin FairfaxNational Virginia AG Says He Dre sed As a Rapper And Wore ‘Brown Makeup’ At a 1980 Celebration All a few embattled politicians are Democrats; the person who’d believe the governorship, whenever they all stage down, is GOP House Speaker Kirk Cox. Which leaves their fellow Democratic lawmakers having a problem they have observed demanding to reply and one particular they carry on to deal with with warning: Really should the boys stage down? “Much from the discu sion has, rightfully, centered about who we have been as Democrats as we proceed to face in opposition to racism and towards sexual a sault. We regard all survivors and believe they ought to be totally heard,” your house Democratic Caucus said in the Friday a sertion that did not identify Gov. Ralph Northam, Lt. Gov. Justin Fairfax or Lawyer Common Mark Herring. “However, this isn’t a partisan difficulty, but a dilemma for all Virginians and all Us residents.” pic.twitter.com/xX7MyBcFCe VA Residence Democrats (@VAHouseDems) February eight, 2019 Democrats in the state Senate, in https://www.76ersedge.com/Maurice-Cheeks-Jersey a very a sertion launched Friday, acknowledged that it ought to be their steps not their words “that will carry up the voices that for a lot as well extended have been silenced.” Also omitted from this a sertion ended up the names Northam, Herring and Fairfax. A number of Democrats amongst the state’s national congre sional delegation have previously especially named on Northam to resign i suing a joint a sertion immediately after Northam’s Saturday news convention indicating he has inflicted “immense agony and irrevocably broken the rely on Virginians have to have in their leaders.”And just about each individual member of Virginia’s Democratic Dwelling delegation loudly referred to as for Fairfax’s departure following the release in the second sexual a sault allegation from him Friday. Joint statement with @RepSpanberger, @RepElaineLuria, @RepWexton, @GerryConnolly: pic.twitter.com/9nd8uijqDF Rep. Don Beyer (@RepDonBeyer) February https://www.76ersedge.com/Allen-Iverson-Jersey eight, 2019 Still, the Virginia GOP didn’t wait to place out that point out lawmakers’ modern delicate reaction amounted to just what the occasion described to be a “hall pa s.” And its chief mentioned that although some Democrats in the beginning demanded that Northam resign following the image surfaced, there was a distinct response when Herring produced his admi sion. “If this were some other elected placement within the Commonwealth, Virginia Democrats can be rightfully calling for a resignation,” the Republican Celebration of Virginia reported Friday. “The Democrats have sacrificed their morals and values for political expediency.” Afterwards in the working day, each time a 2nd sexual a sault allegation surfaced versus Fairfax this a person when he was a university student at Duke University in 2000 Democratic lawmakers arrived out considerably more forcefully. Approximately each and every national congre sional representative from Virginia identified as for Fairfax’s resignation in a very joint statement. Joint a sertion with @RepSpanberger, @RepElaineLuria, @RepWexton, @GerryConnolly: pic.twitter.com/9nd8uijqDF Rep. Don Beyer (@RepDonBeyer) February eight, 2019Megan Pauly with WCVE in Richmond contributed to this report.

20Sep 2019
  • The sale of the first tranche of a total perimeter of 22 photovoltaic plants to Mareccio Energia S.r.l., a platform for the aggregation of assets in Italy of a primary investment fund, in partnership with the sponsor LCF Alliance, through the vehicle company Italia T1 Roncolo, has been completed.
  • Total capacity of the plants subject to closing equal to 9.4 MW
  • Net proceeds for TerniEnergia of approximately Euro 9.5 million, including a trade receivable from an SPV (net of the Escrow account and minority interests in the JV)
  • Total countervalue of the transaction (Enterprise Value) of approximately Euro 29.1 million
  • Part of the purchase price, equal to Euro 1 million, will be paid into an Escrow account as a guarantee of Seller’s obligations and indemnity obligations
  • The transaction involves the assumption by the purchaser of financial debts linked to the plants for approximately Euro 17.9 million, of which approximately Euro 0.7 million relating to the Joint Venture
  • The deal carried out as part of the Recovery and Relaunch Plan of the TerniEnergia Group

 

TerniEnergia, smart company listed on MTA of Borsa Italiana and part of the Italeaf Group, following the press releases issued respectively,on 16 May 2019 and on 6 June 2019, to which reference is made, announces that the sale (by TerniEnergia itself, also through subsidiaries and SPVs) to the special purpose vehicle Italia T1 Roncolo, headed by Mareccio Energia S.r.l., platform for the aggregation of photovoltaic plants in Italy of a primary investment fund, in partnership with the sponsor LCF Alliance, of 11 photovoltaic plants in Italy with a total installed capacity of 9.4 MW has been completed. The plants are part of the total perimeter subject to preliminary contracts represented by 22 photovoltaic plants for a total installed capacity of 19.3 MW. 

The effectiveness of the closing is subject to the resolutive condition represented by the non-application, by September 30, 2019 at the latest, of the Attestation of the TerniEnergia Recovery and Relaunch Plan (“the Plan”) and of the Financial Agreement for the restructuring of the debt towards credit institutions.

The total price for the sale of the plants is equal to approximately Euro 10.3 million (Equity value), while the net collection for TerniEnergia will be equal to approximately Euro 9.5 million, including a trade receivable from an SPV (net of the Escrow account and the minority interests in the JV, as indicated below).

The acquisition contract was made after the establishment of two Newcos, Ternisolarenergy NC S.r.l. e Solter NC Leporano Sangiorgiojonico S.r.l., into which part of the asset portfolio consisting of a total of 9 plants was transferred, of which:

– 7 plants with a total capacity of 5.7 MW owned by Terni Solarenergy S.r.l.,

– 2 plants for a total of 1.9 MW owned by Solter S.r.l..

The purchase price of these plants is approximately 7 million euro, corresponding to the equity value determined at the reference date of 30 June 2018 (total enterprise value of approximately 24.2 million euro).

In addition, has been sold a plant with a total capacity of 1 MW conferred to the newco “G NC Radicci Srl”, which was conveyed by Girasole Srl, a 50-50 joint venture between TerniEnergia and Errenergia. The purchase price for 100% of the SPV is about 1.3 million euros, corresponding to the equity value determined at the reference date of June 30, 2018 (Enterprise value of about 2 million euros).

Finally, another 0.8 MW plant held by SPV Alchimia Energy 3 S.r.l. was sold to the Buyers with the “Quota Purchase Agreement” formula (acquisition of the shares of the company owning the plant subject of the transaction). The purchase price for 100% of the SPV is approximately 2 million euro (Enterprise value approximately 2.9 million).

The transaction also involves the assumption by the Purchasers of financial debts related to the plants for approximately Euro 17.9 million, of which Euro 0.7 million related to the plant held in the JV.

Part of the purchase price, equal to Euro 1 million, will be maintained in an Escrow account as a guarantee of Seller’s obligations and indemnification obligations, and issued upon fulfilment of certain conditions expressly established by the parties.

The payment will be made on a cash at the date of effectiveness of the Attestation of the TerniEnergia Recovery and Relaunch Plan (“the Plan”) and of the Financial Agreement for the restructuring of the debt towards the credit institutions.

TerniEnergia was assisted by Grimaldi Studio Legale, as legal advisor, with a team coordinated by the Partner, lawyer Annalisa Pescatori, and by EnVent Capital Markets as financial advisor. Italia T1 Roncolo S.r.l. and LCF Alliance were assisted by the Energy Team of Rödl & Partner, with a team led by Partner Roberto Pera, as legal advisor.

 

TERNIENERGIA (TER. MI), established in September 2005 and part of the Italeaf Group, is the first Italian global technological enabler, committed to bringing energy solutions and efficient recovery of integrated and sustainable resources to the world. Organized into two strategic business lines (Assets and Smart solutions and services), with about 300 employees and a geographical presence worldwide, with operative and commercial offices, TerniEnergia develops innovative solutions, products and services based on digital and industrial technologies for the energy supply chain, grids, smart mobility, industrial automation and the recovery of marginal resources. TerniEnergia, also through its subsidiaries (Softeco Sismat, Greenled Industry, GreenAsm, GreenAsm, Purify, Wisave, Ant Energy), pursues the objectives of increasing energy production from renewable sources, saving energy and reducing emissions and actively participates in the energy revolution of distributed power generation and smart grids, with innovative digital solutions.

TerniEnergia is the ideal partner for large utilities, distribution operators and network operators, energy producers, public administrations, industrial customers and investors who intend to realize large projects for the production of renewable energy, modern systems and plants with high energy efficiency, solutions for the management and maintenance of infrastructure and electrical installations. TerniEnergia has completed its transformation from a leader in the international photovoltaic market into a smart energy company and technological enabler for the sustainable use of resources through a complete commercial offer of solutions, the development and supply of digital technologies and the creation of “intelligent” services and solutions aimed at public and private customers in emerging sectors.

TerniEnergia is listed on the MTA of Borsa Italiana.

11Sep 2019

Enlarge this Pau Gasol Jersey imagePrabhu Ramamoorthy a saulted a sleeping female on an overnight flight from Las Vegas to Detroit on Jan. three. The 35-year-old person was sentenced to nine a long time in prison on Friday.Seth Wenig/APhide captiontoggle captionSeth Wenig/APPrabhu Ramamoorthy a saulted a sleeping girl on an overnight flight from Las Vegas to Detroit on Jan. three. The 35-year-old guy was sentenced to nine many years in prison on Friday.Seth Wenig/APEditor’s notice: This story is made up of graphic descriptions of sexual a sault. A Detroit-area guy who sexually a saulted a sleeping pa senger on the Spirit Airways flight was sentenced to 9 yrs in prison on Thursday.Prabhu Ramamoorthy a saulted the girl on an overnight flight from Las Vegas to Detroit on Jan. 3. As she slept within the window seat next to him, Ramamoorthy unbuttoned her leading, fondled her breasts, unzipped her trousers and digitally penetrated her. His wife sat inside the aisle seat adjacent to his. The Detroit Cost-free Pre s claimed that prosecutors, who were being calling to get a 130-month sentence, termed the incident “one of the most brazen plane sexual a saults at any time prosecuted while in the district.”Law Man Who Sexually A saulted Airline Pa senger Convicted, Could Deal with Daily life In Jail Based on the newspaper, Ramamoorthy, that’s from the U.S. from India over a function visa with his wife, declined to talk in the sentencing listening to. He didn’t present any words of apology or remorse towards the victim as she sat throughout the room accompanied by a consolation pet dog. She also declined to addre s Ramamoorthy.The 35-year-old guy hung his head and cried as https://www.bucksedges.com/Vin-Baker-Jersey he shuffled away from the courtroom in shackles. National 36,000 Ft Within the Air, Flight Attendants And Pa sengers Say ‘Me, Too’ “Everyone has the right being secure and secure once they journey on airplanes,”U.S. Legal profe sional Matthew Schneider claimed in a a sertion on Thursday.”We will not tolerate the behavior of anyone who requires benefit of victims that Brook Lopez Jersey are in a vulnerable placement. We respect the sufferer in cases like this for her bravery to speak out,” Schneider included. The Detroit Absolutely free Push reviews: “In pleading for leniency, Ramamoorthy’s lawyer, James Amberg, argued that his client a college-educated laptop specialist who moved into the U.S. in 2015 lived a clean up and productive everyday living prior to this incident. He experienced no felony record inside the U.S. or India.”Amberg also mentioned that his client experienced presently been a saulted in jail considering the fact that his arrest months in the past, which he faces a life span of shunning when he returns to India. ” ‘He will experience extensive just after this sentence is completed,’ Amberg explained.”Ramamoorthy was convicted by a jury in August soon after a five-day trial. The jury deliberated close to 3 1/2 hrs in advance of returning the guilty verdict.He will be deported just after the jail term.

28Aug 2019

The Board of Directors of Italeaf (”Italeaf” or ”the Company”), a holding company active in the cleantech and smart innovation sectors, listed on Nasdaq First North, which met today, resolved to postpone the approval of the separate and consolidated financial statements as at 31 December 2018 and the half-yearly financial report as at 30 June 2019.

In this regard, the Company’s Board of Directors has noted that:

  1. on 7 August 2019 the Board of Directors of the subsidiary TerniEnergia S.p.A. (“TerniEnergia”), the holding company’s main asset, resolved to postpone any decision on the approval of the draft financial statements and consolidated financial statements as at 31 December 2018 to a period between 19 and 27 September 2019 in order to be able to take fully into account, in approving the financial data, the impacts deriving from the definition of the restructuring agreements under negotiation with the financial creditors;
  2. negotiations are in progress with the creditors and that some financial creditors are common to the two companies.

Therefore, taking into account the postponement of the approval of the 2018 financial statements and the half-yearly financial report as at 30 June 2019 of TerniEnergia and the importance of the outcome of the ongoing negotiations with the banks (of which the market is and will be regularly informed), the Board of Directors Italeaf’s Board of Directors has deemed it appropriate to postpone any decision regarding the approval of the draft financial statements, the consolidated financial statements as at 31 December 2018 and the half-yearly report as at 30 June 2019 until a date to be defined following the approval of the corresponding documents by TerniEnergia and the completion of negotiations with the banking community in order to be able to take fully into account in the approval of these financial data the impacts deriving from the definition of the restructuring agreement.

At the moment, the approval of the 2018 draft financial statements and the half-yearly report as at 30 June 2019 is planned no later than 15 November 2019, but the final dates of the Board meetings called for such approvals will be communicated to the market with a subsequent press release, in the manner prescribed by the applicable regulations..

08Aug 2019

TerniEnergia, a smart company listed on the Italian Stock Exchange’s electronic share market (MTA) and part of the Italeaf Group, announces that the Group’s digital company, Softeco Sismat obtained two framework contracts for a period of 24 months, between 30/7/2019 and 29/7/2021, and which can be renewed for a further 12 months, respectively for the SCADA area and for the software applications area on behalf of Leonardo S.p.A., an Italian company leader in the defence, aerospace and security sectors.

The business is related to the design and implementation of supervision software for the simulation and emulation of sorting systems for couriers and airports.

The company of the TerniEnergia Group will provide the customer with an innovative service, thanks to the use of established market platforms and qualified technicians, with many years of experience in the application contexts covered by the supply.

The supply of services will be carried out according to a procedure regulated by the agreements, which provides for the issue of orders containing the details of the activities, the methods and times of execution and the relative amount.

 

TERNIENERGIA (TER. MI), established in September 2005 and part of the Italeaf Group, is the first Italian global technological enabler, committed to bringing energy solutions and efficient recovery of integrated and sustainable resources to the world. Organized into two strategic business lines (Assets and Smart solutions and services), with about 300 employees and a geographical presence worldwide, with operative and commercial offices, TerniEnergia develops innovative solutions, products and services based on digital and industrial technologies for the energy supply chain, grids, smart mobility, industrial automation and the recovery of marginal resources. TerniEnergia, also through its subsidiaries (Softeco Sismat, Greenled Industry, GreenAsm, GreenAsm, Purify, Wisave, Ant Energy), pursues the objectives of increasing energy production from renewable sources, saving energy and reducing emissions and actively participates in the energy revolution of distributed power generation and smart grids, with innovative digital solutions.

TerniEnergia is the ideal partner for large utilities, distribution operators and network operators, energy producers, public administrations, industrial customers and investors who intend to realize large projects for the production of renewable energy, modern systems and plants with high energy efficiency, solutions for the management and maintenance of infrastructure and electrical installations. TerniEnergia has completed its transformation from a leader in the international photovoltaic market into a smart energy company and technological enabler for the sustainable use of resources through a complete commercial offer of solutions, the development and supply of digital technologies and the creation of “intelligent” services and solutions aimed at public and private customers in emerging sectors.

TerniEnergia is listed on the MTA of Borsa Italiana.

 

07Aug 2019

The Board of Directors of TerniEnergia S.p.A. (“TerniEnergia” or the “Company”), a smart company listed on the Italian Stock Exchange’s electronic share market (MTA) and part of the Italeaf Group, which met today, approved the final draft of the Recovery and relaunch plan for the period 2018-2022, aimed at restoring the financial and equity balance of the Company, pursuant to Article 67, paragraph 3, letter d) r.d. 267/42 (the “Plan”).

The final version of the Plan approved by the Board of Directors, prepared with the assistance of KPMG as industrial and financial advisor and (limited to legal aspects) of the law firm DLA Piper as legal advisor, does not contain substantial changes with respect to the terms and conditions of the Plan (and the related financial package) as communicated to the market on 27 June 2019, thus reconfirming the main strategic repositioning objectives described in more detail therein.

 

Updating of the corporate events agenda

Following the press release issued on 27 June 2019, to which reference should be made, the Board of Directors acknowledged that negotiations with the creditors are being finalized on the basis of the Plan approved today.

Taking into account the progress of this process – of which the market is and will be regularly informed – and the importance of the outcome of the above negotiations aimed at reaching a financial agreement in execution of the Plan that will enable the Company to rebalance its economic and financial position, the Board of Directors has therefore, deemed it appropriate to postpone any decision on the approval of the draft financial statements and the consolidated financial statements as at 31 December 2018 until a later date, between 19 and 27 September 2019, in order to be able to take fully into account, in the approval of these financial data, the impacts arising from the definition of the restructuring agreement.

The precise date of the Board meeting for the approval of the 2018 financial statements and for the calling of the Shareholders’ Meeting will be communicated to the market with a subsequent press release, in the manner established by the applicable provisions.

 

 

TERNIENERGIA (TER. MI), established in September 2005 and part of the Italeaf Group, is the first Italian global technological enabler, committed to bringing energy solutions and efficient recovery of integrated and sustainable resources to the world. Organized into two strategic business lines (Assets and Smart solutions and services), with about 300 employees and a geographical presence worldwide, with operative and commercial offices, TerniEnergia develops innovative solutions, products and services based on digital and industrial technologies for the energy supply chain, grids, smart mobility, industrial automation and the recovery of marginal resources. TerniEnergia, also through its subsidiaries (Softeco Sismat, Greenled Industry, GreenAsm, GreenAsm, Purify, Wisave, Ant Energy), pursues the objectives of increasing energy production from renewable sources, saving energy and reducing emissions and actively participates in the energy revolution of distributed power generation and smart grids, with innovative digital solutions.

TerniEnergia is the ideal partner for large utilities, distribution operators and network operators, energy producers, public administrations, industrial customers and investors who intend to realize large projects for the production of renewable energy, modern systems and plants with high energy efficiency, solutions for the management and maintenance of infrastructure and electrical installations. TerniEnergia has completed its transformation from a leader in the international photovoltaic market into a smart energy company and technological enabler for the sustainable use of resources through a complete commercial offer of solutions, the development and supply of digital technologies and the creation of “intelligent” services and solutions aimed at public and private customers in emerging sectors.

TerniEnergia is listed on the MTA of Borsa Italiana.

02Aug 2019
  • Consideration for the transaction, finalized with NextPower II Alpha S.r.l., amounting to approximately Euro 1.3 million; the transaction involves the assumption by the buyer of financial debts related to the plants for about Euro 2 million (relating to the share of TerniEnergia).
  • The company sold owns two PV plants in Puglia with a power of about 0.9 and 1 MW, respectively
  • The payment will be made in cash upon the effectiveness of the attestation of the Plan for the recovery and relaunch of TerniEnergia and to the fulfilment of certain conditions typical for this type of acquisition. The transaction is guaranteed by a credit surety given by the parent company of the buyer, NextPower II Italia S.r.l.

 

TerniEnergia, a smart company listed on the Italian Stock Exchange’s electronic share market (MTA) and part of the Italeaf Group, announces that today was signed the closing for the sale to NextPower II Alpha S.r.l., an investment vehicle managed by the London merchant bank NextEnergy Capital, of 50% of the shares of the company NextPower II Prima Srl. The joint venture between TerniEnergia and Errenergia, which simultaneously signed the preliminary contract for the sale of its shares to the Purchasers, owns two photovoltaic plants in Puglia for a total installed capacity of about 1.9 MW.

The consideration for the sale of the company’s shares amounts to approximately Euro 1.3 million, while the transaction also provides for the assumption by the Purchasers of financial debts linked to the plants for approximately Euro 2 million (relating to the share of TerniEnergia). NextPower II Italia S.r.l., parent company of the vehicle company that acquired the plants, has given a guarantee of performance by the Buyer. The consideration will be paid in cash on the effectiveness of the certification of the TerniEnergia Recovery and Relaunch Plan, as well as to the fulfilment of certain conditions typical for this type of transaction.

For TerniEnergia, this transaction represents a further step forward in the implementation of the Recovery and Relaunch Plan aimed at completing the repositioning into a smart company and overcoming the current financial tension of the Group, on the basis of the strategic guidelines identified by the Board of Directors.

 

TERNIENERGIA (TER. MI), established in September 2005 and part of the Italeaf Group, is the first Italian global technological enabler, committed to bringing energy solutions and efficient recovery of integrated and sustainable resources to the world. Organized into two strategic business lines (Assets and Smart solutions and services), with about 300 employees and a geographical presence worldwide, with operative and commercial offices, TerniEnergia develops innovative solutions, products and services based on digital and industrial technologies for the energy supply chain, grids, smart mobility, industrial automation and the recovery of marginal resources. TerniEnergia, also through its subsidiaries (Softeco Sismat, Greenled Industry, GreenAsm, GreenAsm, Purify, Wisave, Ant Energy), pursues the objectives of increasing energy production from renewable sources, saving energy and reducing emissions and actively participates in the energy revolution of distributed power generation and smart grids, with innovative digital solutions.

TerniEnergia is the ideal partner for large utilities, distribution operators and network operators, energy producers, public administrations, industrial customers and investors who intend to realize large projects for the production of renewable energy, modern systems and plants with high energy efficiency, solutions for the management and maintenance of infrastructure and electrical installations. TerniEnergia has completed its transformation from a leader in the international photovoltaic market into a smart energy company and technological enabler for the sustainable use of resources through a complete commercial offer of solutions, the development and supply of digital technologies and the creation of “intelligent” services and solutions aimed at public and private customers in emerging sectors.

TerniEnergia is listed on the MTA of Borsa Italiana.

30Jul 2019

TerniEnergia, a smart company listed on the Italian Stock Exchange’s electronic share market (MTA) and part of the Italeaf Group, announces that the meeting of the bondholders (the “Bondholders’ Meeting”) of the “TerniEnergia Euro 25,000,000.00 notes due 2019 – ISIN code IT0004991573” bond (the “Bond”), was held before the Chairman Stefano Neri and the Notary Adele Cesàro in Milan at the first convening, today, 30 July 2019 at 11,00 a.m., with the participation of the bondholders representing 62,80 % of the Bond.

The Bondholders’ Meeting resolved, with the majorities requested by the law, upon the participation of the bondholders to the Plan and the adoption of a new bond regulation (the “Bond Regulation”), which includes the amendments necessary to make the Bond Regulation consistent with the provisions of the Plan, in order for TerniEnergia S.p.A. (the “Company” or “TerniEnergia”) to execute an agreement in accordance with article 67, paragraph 3, letter d), of Italian Royal Decree number 267 of 16 March 1942 (the “Plan”).

In particular, the Bond Regulation (as amended), includes, inter alia, the following:

  1. the postponement of the final maturity date of the Bond from 30 September 2019 to 31 December 2027, in order to allow the Company to repay in full the Bond, as this new timeline is compliant with the cash flows generated by the disposal of the assets (directly or indirectly owned by TerniEnergia) provided under the Plan and by the operational management (gestione corrente) of the Company (after the merger with Softeco);
  2. the mandatory prepayment of the Bond (in compliance with the par condicio creditorum principle with the other financial creditors and in according to the priority of payments provided under the Plan) utilizing the proceeds deriving from the disposal of the aforementioned assets;
  3. the amendment to the interest calculation period, specifying that the new interest calculation period will be on a semi-annual basis and that the first interest calculation period has started on 6 February 2018 and will end on 31 December 2019;
  4. the amendment to the actual fixed interest rate to a floating rate equal to 6 Months Euribor plus 150 basis points (starting from 1 July 2018). Moreover, in compliance with the provisions of the Plan, the interest payment dates shall occur on a semi-annual basis falling on 30 June and 31 December of each year, provided that, the first interest payment date will be on 31 December 2019;
  5. the introduction of an amortization plan for the redemption of the Notes according to which (i) the first payment date will fall on 31 December 2019; (ii) the second payment date will fall on 31 December 2020, without prejudice to the fact that on 31 December 2020 the Bond will have to be reimbursed by the Issuer for a percentage equal to 35,6% of the total outstanding amount of the Bond. It is understood that, starting from 30 June 2021 until the final maturity date of the Bond (as postponed), the payment dates will be on a semi-annual basis (on 30 June and 31 December of each year). Moreover, considering that the amount to be paid on the first and second payment dates (i.e. 31 December 2019 and 31 December 2020) is linked to the revenues deriving from the disposal of the assets (directly or indirectly owned by TerniEnergia) and the timing of such disposal can’t be predicted with certainty, in order to avoid the Plan to be too restrictive, the Bond Regulation will provide that if the Issuer will not comply with its payment obligations scheduled on 31 December 2019, such payments will be postponed on 31 December 2020 and will be equal to the difference between (i) the amount due on 31 December 2019; and (ii) the amount which will be actually paid on 31 December 2019. Therefore, on the basis of the above, (i) the amount due on 31 December 2020 will be equal to the sum of (a) the amount due on 31 December 2020 and (b) the difference between (x) the amount due on 31 December 2019 (capital and interest); and (y) the amount which has been actually corresponded on 31 December 2019, and (ii) the failure of the Issuer to pay the amounts due on 31 December 2019 will not be an event of default;
  6. the introduction of certain mechanisms that may grant an acceleration of the repayment of the Bond in the case of overperformance by the Company compared to the results provided under the Plan (i.e. mandatory prepayment; step-up; excess cash).

In addition to the above the Bondholders’ Meeting has approved the granting of a waiver for any breach of covenants which have occurred or which could be qualified as event of default and / or any other event or other conditions (i.e. the failure by the Issuer to comply with (i) its financial covenants, (ii) its payment obligation (other than those payment obligations arising from the Bond), (iii) its obligations under the Bond Regulation) which may entitle the bondholders to request the acceleration and therefore the early redemption of the Bond. It is understood that non-effectiveness of the financial agreement to be executed for the purposes of implementing the Plan by the Company, on the one hand, and its financial creditors, on the other hand, by no later than 30 September 2019 would automatically imply the non-effectiveness of the participation by the bondholders to the Plan and of the amendments to the Bond Regulation.

For detailed amendments, please refer to the new version of the Bond Regulation which will be published within the term indicated in the minute of the Bondholders’ Meeting.

The approval of the agenda by the Bondholders’ Meeting represents a step of great importance for the process of industrial turnaround undertaken by TerniEnergia (end the other legal entities belonging to the relevant group).

The minute of the Bondholders’ Meeting and the summary voting report (rendiconto sintetico delle votazioni) will be available to the public within the terms provided under the applicable laws.

In relation to the drafting of the Plan, the Company is assisted by KPMG as financial advisor. DLA Piper Studio Legale Tributario assists TerniEnergia as legal advisor. Marzio Molinari of the law firm Russo De Rosa Associati is the representative of the bondholders.

 

 

TERNIENERGIA (TER. MI), established in September 2005 and part of the Italeaf Group, is the first Italian global technological enabler, committed to bringing energy solutions and efficient recovery of integrated and sustainable resources to the world. Organized into two strategic business lines (Assets and Smart solutions and services), with about 300 employees and a geographical presence worldwide, with operative and commercial offices, TerniEnergia develops innovative solutions, products and services based on digital and industrial technologies for the energy supply chain, grids, smart mobility, industrial automation and the recovery of marginal resources. TerniEnergia, also through its subsidiaries (Softeco Sismat, Greenled Industry, GreenAsm, GreenAsm, Purify, Wisave, Ant Energy), pursues the objectives of increasing energy production from renewable sources, saving energy and reducing emissions and actively participates in the energy revolution of distributed power generation and smart grids, with innovative digital solutions.

TerniEnergia is the ideal partner for large utilities, distribution operators and network operators, energy producers, public administrations, industrial customers and investors who intend to realize large projects for the production of renewable energy, modern systems and plants with high energy efficiency, solutions for the management and maintenance of infrastructure and electrical installations. TerniEnergia has completed its transformation from a leader in the international photovoltaic market into a smart energy company and technological enabler for the sustainable use of resources through a complete commercial offer of solutions, the development and supply of digital technologies and the creation of “intelligent” services and solutions aimed at public and private customers in emerging sectors.

TerniEnergia is listed on the MTA of Borsa Italiana.

22Jul 2019

TerniEnergia, a smart company listed on the Italian Stock Exchange’s electronic share market (MTA) and part of the Italeaf Group, announces that the Group’s digital company Softeco obtained a contract from ENAV, the company that manages civil air traffic in Italy, for the supply of a platform dedicated to the analysis of the consumption data of the individual sites where power is delivered to the customer (POD) and of the cost data connected to the contract stipulated with energy suppliers.

The aim of the supply is to guarantee to the energy management sector of the company a decision support service, able to optimize energy consumption and to promote actions designed to increase consumption efficiency. Softeco will implement a tailor made version for ENAV of the Energy Retail solution, designed specifically for Energy Managers, to allow and optimize the analysis of energy consumption and costs incurred. The Energy Data Manager (EDM) module allows, in fact, the analysis of the consumption of all the users included in the supply through the acquisition of data both from the fiscal meter and from other meters possibly present in the different branches of the system. It is also possible to recalculate the value of the different components of the supply and compare them with those present in the invoice received from the supplier.

Softeco will provide the basic hardware and software architecture, the data back-up service, the connectivity, the system management service and the help-desk service.

EDM is the solution for Energy Managers that is the result of Softeco’s more than ten years of market experience, thanks to its package of features designed directly in the field, allows a high automation of business processes – control of costs and consumption – through the creation of reports designed ad hoc. EDM also interfaces with the information systems of the authorities (SII, ARERA, GSE, Terna, …) and is compatible with cloud and on-premise infrastructures.

 

 

TERNIENERGIA (TER. MI), established in September 2005 and part of the Italeaf Group, is the first Italian global technological enabler, committed to bringing energy solutions and efficient recovery of integrated and sustainable resources to the world. Organized into two strategic business lines (Assets and Smart solutions and services), with about 300 employees and a geographical presence worldwide, with operative and commercial offices, TerniEnergia develops innovative solutions, products and services based on digital and industrial technologies for the energy supply chain, grids, smart mobility, industrial automation and the recovery of marginal resources. TerniEnergia, also through its subsidiaries (Softeco Sismat, Greenled Industry, GreenAsm, GreenAsm, Purify, Wisave, Ant Energy), pursues the objectives of increasing energy production from renewable sources, saving energy and reducing emissions and actively participates in the energy revolution of distributed power generation and smart grids, with innovative digital solutions.

TerniEnergia is the ideal partner for large utilities, distribution operators and network operators, energy producers, public administrations, industrial customers and investors who intend to realize large projects for the production of renewable energy, modern systems and plants with high energy efficiency, solutions for the management and maintenance of infrastructure and electrical installations. TerniEnergia has completed its transformation from a leader in the international photovoltaic market into a smart energy company and technological enabler for the sustainable use of resources through a complete commercial offer of solutions, the development and supply of digital technologies and the creation of “intelligent” services and solutions aimed at public and private customers in emerging sectors.

TerniEnergia is listed on the MTA of Borsa Italiana.