Nuvve entered into a Sale and Purchase Agreement to acquire all equity of BESS Sibiu, a Romanian developer of a 42 MW battery energy storage project in Sibiu. Terms include a €10,000 monthly development fee until COD or the long-stop date, about €420,000 payable at closing (subject to adjustments), and about €1,260,000 payable upon receipt of a generation license (COD), reduced by prior development fees. Nuvve will also repay seller loans totaling RON 946,000. The deal is subject to customary conditions, Romanian approvals including foreign direct investment review, and will terminate if not closed by Oct 22, 2026.
Agreement details:
- Agreement type: Sale and Purchase Agreement to acquire 100% of BESS Sibiu SRL
- Counterparty: Toparceanu Ioan; Ciolacu Silviu; Fodor Alexandru; Vulcan Ioan; Dungaciu Andrei; Popa Partenie
- Signed / Effective: Jun 22 2026 / Jun 22 2026
- Duration / Termination: Until closing; auto-terminates if not closed by Oct 22 2026
- Reason: Expand European battery energy storage footprint
Original SEC Filing:
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