Orrön Energy sells a portfolio of three solar energy projects in Germany for a total consideration of up to MEUR 14

Orrön Energy AB (“Orrön Energy” or “the Company”) is pleased to announce that it has entered into an agreement with Gülermak Renewables Deutschland Holding GmbH (“Gülermak”), 100% subsidiary of Gülermak Renewables Ltd to sell three solar energy development projects in Germany, with a combined estimated installed capacity of 234 MW, for a total consideration of up to MEUR 14. The consideration paid at closing for the first project is expected to be MEUR 0.7, with the remaining consideration contingent on development milestones being met up to the ready-to-build stage.