HIGHLIGHTS Q4 2016:
The power production in the quarter was 2.16 GWh. At the end of December 2016, accumulated power production for the 12M was 13.4 GWh.
EBITDA in the quarter came in at a loss of EUR 100k, adjusted for legal costs and write-downs associated to SPVs with terminated FIT contracts, EBITDA from the SPVs in normal operations was EUR 131k in the quarter.
6 power plants produced electricity in the 4th quarter.
The Criminal Court proceedings in Milan continued on 6 December 2016 where the Court again confirmed the positions of the three companies, Enovos, Avelar and Aveleos, as financially liable parties for the economic damages arising from the criminal offence of contractual fraud charged against the defendants Marco Giorgi and Igor Akhmerov.
For information, please contact:
Viktor E Jakobsen, CEO, phone +47 9161 1009, viktor@eam.no
Viktor E Jakobsen, CEO, phone +47 9161 1009, viktor@eam.no
About EAM Solar: EAM Solar is a utility company that acquires and operates solar power plants. The Company currently owns solar PV power plants in Italy. The plants are operating under long-term sales contracts.
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
