TERRAOIL SWISS AG TERRAOIL SWISS AG: Terraoil Reports Progress on Solar Projects

Transparency directive : regulatory news

01/03/2022 07:00

TERRAOIL SWISS AG / Key word(s): Agreement
TERRAOIL SWISS AG: Terraoil Reports Progress on Solar Projects

01.03.2022 / 07:00

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Terraoil Reports Progress on Solar Projects
Terraoil and its Partner Agree on Exclusivity and Extend the Concerned Territory

Zug, Switzerland, Mar. 1, 2022 - Terraoil Swiss AG, an energy company with a strong focus on the Mediterranean is pleased to announce that it has revised the terms of its relationship which was established in 2021 with a major solar energy provider.

Terraoil Swiss and its partner have amended the binding termsheet that now makes them exclusive partners for joint hybrid (solar, wind and battery storage) power projects in Albania, Kosovo and, since 2022, North Macedonia. The partners are currently screening opportunities in the region and expect to embark on a feasibility study for the first project in the coming months. Projects will require the final approval and support of local authorities.

Chief Executive Officer, Peter Krempin commented:
"Terraoil trusts in the future of renewable energy and invests in the creation of the necessary infrastructure to equalize the footprint of upstream production. While oil and gas production will remain a critical sector for Terraoil, we will also strive to provide green energy solutions for the future and act in the interest of our investors to create a more sustainable approach to energy production. This partnership allows both partners to bring their strengths to the table: Terraoil with strong regional contacts and representation and its partner's expertise in building and operating solar projects worldwide."

If you are an Terraoil shareholder and would like additional information, contact Peter Krempin either via email investors@terraoil.swiss or by telephone at +41 71 544 01 20.

About Terraoil Swiss AG
Terraoil is an international energy company with a focus to identify and rapidly advance business opportunities in the upstream oil and gas and renewable energy sectors in the Mediterranean region.
https://terraoil.swiss

Legal Notice
This media release serves informational purposes and constitutes neither an offer to sell nor a solicitation or an advertisement to buy any shares of Terraoil Swiss AG in any jurisdiction. This media release does not constitute a prospectus within the meaning of Article 35 et seqq. of the Swiss Federal Act on Financial Services. Investors should base their decision to purchase shares of Terraoil Swiss AG exclusively on the official prospectus, which is available electronically and free of charge under https://terraoil.swiss/prospectus. The shares described in the prospectus will publicly be offered in Switzerland only. In addition, investors should seek advice from their bank or their financial adviser. This media release and the information contained therein are not being issued in the United States of America, Australia, Canada, Japan, the United Kingdom, or the European Economic Area and must not be distributed within or to such countries or via publications with a general circulation in such countries.

This media release contains forward-looking statements such as projections, forecasts, and estimates. Such forward-looking statements are subject to certain risks and uncertainties which may cause actual results, performance, or events to differ materially from those anticipated in this media release. Readers should therefore not rely on these forward-looking statements. The forward-looking statements contained in this media release are based on the views and assumptions of Terraoil Swiss AG as of this date and Terraoil Swiss AG does not assume any obligation to update or revise this media release.

End of Media Release

Language:	English
Company:	TERRAOIL SWISS AG
	Industriestrasse 47
	6300 Zug
	Switzerland
Phone:	+41 71 544 01 20
Fax:	+41 71 535 59 08
E-mail:	info@terraoil.swiss
Internet:	terraoil.swiss
ISIN:	CH0369663445
Valor:	36966344
EQS News ID:	1290367


End of News	EQS News Service

1290367 01.03.2022

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