SNGN ROMGAZ SA (“ROMGAZ” or the “Company”) informs the interested persons that it maintains its interest to identify viable opportunities for developing the portfolio of renewable electricity production capacities, with priority in the photovoltaic parks area.

During the process carried out following publication of the Initial Notice, ROMGAZ analysed the projects sent by potential sellers, including projects received after the deadline provided in the Initial Notice in May 2024, as well as projects that did not fully meet the requirements initially indicated, to the extent the information provided allowed for a preliminary evaluation of their relevance in relation to the strategic objectives of the Company.

In this context, ROMGAZ is willing to analyse new investment opportunities for photovoltaic parks falling into one of the following categories:

• Finalized photovoltaic parks (not earlier than January 1, 2024), commissioned and in commercial operation, that may be the subject of an acquisition transaction with payment and transfer upon completion of transaction; or
• Photovoltaic projects at least in ready-to-build phase or under construction, provided they are completed, commissioned, and that they meet all the agreed technical, commercial, legal and authorization requirements by December 31, 2028 at the latest. 

For projects provided in paragraph (ii) above, ROMGAZ specifies that the possible structuring of a transaction will only be able to consider an acquisition conditional on the full completion of the project, commissioning, passing all relevant technical tests and the confirmation that the agreed parameters are met.

As a result, ROMGAZ will not make advance payments, partial payments, payments on reaching intermediate development/construction phases, and will not provide any form of financing, co-financing or financial support during project development, construction or implementation.

The negotiated price, as the case may be, will be paid exclusively upon completion of the transaction, following fulfilment of all requirements agreed by the parties including after full completion of the project, after obtaining all endorsements, permits, approvals and licenses required for operation within the National Energy System as well as after the confirmation that the project meets the required technical, legal and commercial parameters and specifications.

This notice is a request for expressions of interest, and it does not represent a firm purchase offer, a promise to buy, or a commitment by ROMGAZ to initiate, continue or finalize a transaction on a project submitted for analysis. ROMGAZ reserves the right to select, request additional information, negotiate, or cease analysing any project, depending on the results of the internal evaluations, due diligence and applicable corporate approvals.

The features of photovoltaic parks envisaged by ROMGAZ are as follows:

For parks at least under ready-to-build phase or under execution:   

• Production capacity between 35 MW and 180 MW (AC);
• Shall hold the Grid Connection Permit (ATR);
• Shall hold a grid connection agreement concluded between the system operator and the user;
• Shall provide evidence of the ownership/right of superficies/right of use or any other right to the land on which the park will be developed;
• Commissioning of the park, the internal electric installation and the grid connection infrastructure to be carried out by December 31, 2028 at the latest;
• Transaction will be made after commissioning – COD (after successful commissioning and installations begin to produce energy to obtain revenue).

For parks in production: 

• Production capacity between 35 MW and 180 MW (AC);
• COD not earlier than January 1, 2024;
• Shall hold have a maintenance contract, grid connection certificate, energy producer authorisation, commercial operation license;
• Shall hold warranty certificates;
• Shall provide evidence of the ownership/right of superficies/right of use or any other right that allows development on the land on which the park was built;
• Shall provide evidence of performed maintenance and shall have in place Electrical Testing Reports;
• Shall provide a list of unscheduled interventions performed during the operation of the park (number, type, related costs).

Photovoltaic parks shall have an efficiency of:

• min. 22% for photovoltaic panels;
•  min. 98.5% for inverters;
• min. 93% for battery capacity (BESS), in a year.

At ROMGAZ request, documents proving that these conditions have been met, as well as any other necessary documents, shall be submitted after signing a Non-Disclosure Agreement (NDA – ROMGAZ template) between bidder and ROMGAZ.

The technical-economic proposals will include the financial proposal (amount in Euro/MW AC):

Interested persons may submit relevant documents as indicated above at energieverde@romgaz.ro, by July 20, 2026 at the latest. ROMGAZ will decide on the analysed projects pursuant to its own criteria.

Submission of information, documents or offers does not represent a guarantee that the project will be selected, that negotiations will be initiated or that a transaction will be concluded. ROMGAZ reserves the right to analyse, request clarifications, request additional documents, prioritize, suspend, or cease the analysis of any project, at any time, with no obligation on the Company.

Moreover, this notice is not a firm offer, contracting promise, binding invitation to contract or acquisition commitment of the Company.  Any possible transaction will be carried out only subject to completion of internal processes of analysis technical, financial, legal, fiscal and commercial evaluation as well as subject to obtaining all applicable corporate, statutory, legal and/or regulatory approvals.

The Company reserves the right to set, change or supplement the analysis criteria, the right not to continue discussions with one or more providers, the right to request the conclusion of a non-disclosure agreement prior to sending detailed information and the right to decide whether to continue the process. 

Each interested person will fully and exclusively bear all costs, expenses and risks related to the preparation, submission and supporting the documentation, offers, information or clarifications sent to the Company. The Company will not be bound to reimburse or compensate for any such cost, irrespective of the results of the analysis or of the decision of the Company to continue or not the discussions on a particular project. 

By submitting documents and information, interested persons confirm that they have the right to communicate such information to the Company and that such information is accurate and complete, within the limits of information available on the date of transmission. The Company may request supporting documents, clarifications or additional information, if applicable. 

This notice is informative and exploratory, and it is aimed exclusively at identifying investment or acquisition opportunities in the field of renewable energy production.