Sale of Gehlenberg wind farm

Company Announcement No. 19/2017

Copenhagen, 20 December 2017

Athena Investments A/S ("Athena"), former Greentech Energy Systems A/S, signed an agreement for the sale of its German wind farm Gehlenberg to Energiequelle GmbH ("Energiequelle").

As announced in the Interim Financial Report for H1 2017, the Management of Athena has been pursuing opportunities for the disposal of the Company's German asset. In continuation hereof, Athena today signed an agreement for the sale of its German wind farm Gehlenberg to Energiequelle, a privately-owned company which develops, constructs and manages renewable energy projects in Germany and Europe. Furthermore,Energiequelle has been involved in the construction of the Gehlenberg wind farm and has been its technical manager since then.

The wind farm consists of 13 turbines for a total net capacity of 23.4 MW and commissioned in December 2001.

The total transaction price for the wind farm amounts to EUR 9.0M.

After the satisfaction of some conditions precedent, Athena expects to complete the transaction within Q1 2018.

Athena's Chairman Peter Høstgaard-Jensen comments: "The sale of the Gehlenberg wind farm represents the exit of Athena from the German market. Confirming the continuation of Athena's "portfolio rotation" strategy, the disposal gives Athena the possibility of reinvesting the equity in other profitable and accretive assets".

The Board of Directors

For further information, please contact:
Peter Høstgaard-Jensen, Chairman of the Board of Directors, Tel: +45 40 10 88 71
Alessandro Reitelli, CEO, Tel: +45 33 36 42 02

Vedhæftede filer:

1719_Sale of Gehlenberg_20_12_17_UK.pdf