Conclusion of significant agreements and granting sureties for the execution of wind farms "Drzeżewo I-IV”

02 Oct 2023

The Management Board of Cyfrowy Polsat S.A. (the “Company”) informs that in connection with the execution of the "Drzeżewo I-IV" wind farms project, located in the Pomeranian Voivodeship in the Słupsk district, with a total installed capacity of 138.6 MW and estimated production of 403 GWh/year, on 2 October 2023, Eviva Drzeżewo sp. z o.o. ("Eviva"), an indirect subsidiary of the Company, entered into a Turbine Supply Agreement with Vestas Poland sp. z o.o. ("Vestas") for the supply, installation and commissioning of 63 wind turbines, and an Operations and Maintenance Agreement covering maintenance work and a guarantee of the availability of the aforementioned turbines by Vestas for a period of 15 years from the date of commissioning. The Company's Management Board considered the aforementioned agreements to be significant due to their significant aggregate value and their key importance for the Company's and its group's ability to achieve its strategic objectives.

Concurrently, the Company established collateral in favor of Vestas in the form of a surety in order to secure the liabilities of Eviva under the turbine supply and installation agreement described above (the "Surety"). The amount of the Surety will not exceed EUR 180,000,000. The Surety will be granted in lieu of the sureties or guarantees in favor of Vestas, about which the Company informed in Current Report No. 20/2022 dated 6 September 2022.


Legal basis

Article 17 Section 1 of Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (market abuse regulation) and repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC.

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Last updated 10/02/2023