Energa reaches settlement over one green certificates framework agreements

A subsidiary of WSE-listed power group Energa, Energa-Obrót, reached a settlement with one of the offshore windfarms companies for the breach of purchase agreement concerning green certificates. “The parties decided on amicable end to all the disputes concerning the invalidity of the sale deal on property rights tied to green certificates. The sides decided that cooperation based on the deal questioned by Energa-Obrót has finished. The settlement has no negative financial impact on the company’s results,” Energa said in a market filing. Back in September last year, the company announced that Energa-Obrót had ceased to implement 22 framework agreements for the sale of property rights resulting from certificates of origin with producers of electricity from renewable energy sources (RES) and decided to initiate legal and arbitration proceedings whose purpose is to establish non-existence legal relations. At that time, Energa estimated that there could be approx. PLN 600 million due to unjust enrichment of its contractors during the implementation of 22 framework agreements.