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Acquisition of photovoltaic power station

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Quest Holdings S.A. informs that its 100% indirect subsidiary “Quest Pylou Energy SA” acquired 100% of the share capital of the company "Kynigos S.A." on the 23rd of July 2019. The total amount of the transaction is €21.3 million, plus an assumption of 3,3 million of net debt.

The amount will be covered by €6.3 million of equity and €15 million of debt issued by banks.
Kynigos S.A. owns a photovoltaic power station of 11,963 MW, located at the Municipality of Pylou – Nestoros in Peloponnese.
The above station is connected to the electricity transmission network through a proprietary MV/HV substation.

After this transaction, Quest Energy owns a total installed base of 25,2MW of power from renewable sources.