Electrica signs a MoU with Esyasoft Holding Ltd.

Societatea Energetica Electrica SA

16 May 2024

 

Announcement - 16 May 2024

Electrica signs a Memorandum of Understanding with Esyasoft Holding Ltd., a subsidiary of International Holding Company (IHC), Abu Dhabi, United Arab Emirates (UAE)

Electrica informs its investors that it signed today, 16 May 2024, in Bucharest, in the presence of the Prime Minister of Romania, a Memorandum of Understanding (MOU) with Esyasoft Holding Ltd. regarding the collaboration in providing deployment and financing/investment scheme for network grid infrastructure modernization and automation, through smart-grid technologies, Advanced Metering Infrastructure (AMI), EV charging infrastructure, energy storage and consumer engagement. The MOU is valid for a period of one year, with the possibility for extension.

The scope of this MOU includes but is not limited to:

·    Collaboration for the deployment and financing scheme of Network Grid Modernization and Automation, AMI and other related technologies.

·    Forming an JV/SPV (Joint Venture / Special Purpose Vehicle) or using any other framework permitted by the laws and regulations in Romania and EU, as may be applicable.

·    Know-how transfer regarding the development of Network Grid Modernization and Automation Infrastructure.

Esyasoft Holding Ltd. is a wholly owned subsidiary of International Holding Company (IHC), Abu Dhabi, specialised in providing end to end Network Grid Modernization and Automation, through Smart-grid Technologies, Advanced Metering Infrastructure (AMI), EV Charging Infrastructure, Energy Storage and Consumer Engagement, communication network, IT, IoT, and advanced analytics and AI solutions for power, gas, and water utilities. Esyasoft has been providing critical Network Grid Modernization and Automation Solutions Globally, having offices in over 10 countries, including UAE, India, Azerbaijan, Netherlands, United Kingdom, and Americas, serving over 35+ global utility companies.

Electrica Group is a key player in the electricity supply, distribution and production market in Romania, as well as one of the most important players in the energy services sector. Electrica Group provides services to about 3.9 million users and has national coverage - with a coverage of 18 counties from three geographical areas for the distribution of electricity: Northern Transylvania, Southern Transylvania, Northern Muntenia, and across the country for the supply of electricity and for energy maintenance and services. As of July 2014, Electrica has become a company with private majority capital, listed on the Bucharest and London Stock Exchanges.

Contact details: Electrica Investor Relations - [e-mail] ; [phone]

CEO

Alexandru Chirita

 

END