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AVELAR Energy Group

AVELAR Energy Group strengthening relationship with Kerself S.p.A.

Zurich (ots)

AVELAR Energy has entered into a definitive share
purchase agreement and defined shareholders agreement with Mr Pier
Angelo Masselli, reference shareholder of Kerself S.p.A., regarding
the acquisition of a 50% stake in a company to be incorporated by Mr
Masselli and to own 29.9% of Kerself S.p.A.'s equity capital and,
respectively, the regulation of the relationships of the parties as
shareholders of the company and indirect shareholders of Kerself
S.p.A. AVELAR Energy also entered into a commercial agreement with
Kerself S.p.A. The share purchase agreement is subject to the
antitrust approvals in relevant jurisdictions and the commercial
agreement will come into force at closing.
The commercial agreement makes Kerself S.p.A. the preferred
partner for AVELAR Energy in the area of procurement of polysilicon
panels and installation services in Italy, Greece and Spain. The
intention of the parties, confirmed by the agreement, is to install
no less than 105 MW of polysilicon photovoltaic systems in three
years. AVELAR Energy will also support Kerself S.p.A. in identifying
long-term supply of silicon, with a particular focus on the
polysilicon project of Renova Group in Russia.
Igor Akhmerov, CEO of AVELAR Energy, said: "We are very pleased to
strengthen our relationship with Kerself S.p.A., our key partner in
realizing the strategy of building significant photovoltaic capacity
in Southern Europe. We hope that Kerself S.p.A. will strongly benefit
from our pipeline of projects and international silicon sourcing
capabilities."
About AVELAR Energy Group:
AVELAR Energy Group is a Zurich-based energy company, established
in 2006 and controlled by RENOVA Group.
AVELAR focuses on conventional and renewable energy, investing in
all relevant sectors of the energy value chain, with a specific focus
on trading and power generation from traditional and renewable
sources.
AVELAR's activities, through its subsidiaries, in particular
Energetic Source, a leading Italian energy trader with an annual
turnover of about EUR 550m, cover four main areas, including gas
trading and infrastructure, power generation and trading, retail
energy sales and renewable generation.
Internet: www.presseportal.ch

Contact:

Media requests from Italy:
Prof. Marino Massimo de Caro
Via Cappuccini 4, 20122 Milan (Italy)
Phone:+39 02 3216571
Email:m.decaro@avelarenergy.com

Media requests from Switzerland/Europe:
Markus Blume
Claridenstr. 22, CH-8001 Zurich
Phone:+41 43 2109562
Email:markus.blume@renova-group.ch
Internet:www.avelarenergy.com

AVELAR Management Ltd.
Claridenstr. 22
CH-8001 Zurich, Switzerland
Phone. +41 44 2000300
Fax +41 44 2000309
www.avelarenergy.com