On April 2, GLONGHUI | United Energy Group (00467.HK) announced that on March 29, 2024, the company's indirect wholly-owned subsidiary United Energy Clean Energy signed a trading agreement with the seller. The purchase price was 37.5 million euros (equivalent to about HK$319 million) to purchase 100% of Green Profit EOOD's shares. As a result, it has indirectly obtained construction rights and easements on several plots of land in the Haskovo region of Bulgaria, as well as permits to develop Simonovgrad power generation facilities composed of 70 MW photovoltaic power generation facilities, Polyanovo power generation facilities composed of 180 MW photovoltaic power generation facilities, and corresponding auxiliary infrastructure and connection facilities on the above plots.
According to the disclosure, the seller (Mr. DELCHO NIKOLAEV PEHLIVANOV) is an experienced solar developer with extensive experience in the development, commissioning and operation of solar projects in Bulgaria. The seller is the sole shareholder and director of Green Profit EOOD. As of the date of this announcement, the seller and its ultimate beneficial owners are third parties independent of the Company and its related persons.