The subsidiary company "Zarubezhneft" - LLC "ZN Energy" - in 2023 conducted a series of transactions to acquire a 50% stake in project companies in Armenia engaged in the production of electricity at solar power plants, writes Interfax, citing the report of "ZN Energy."
In April 2023, the company established LLC "Solar Industry" in Armenia, in which it controls 99.9% of the shares.
The deals to purchase stakes in Armenian companies led to a reduction in the already negative net assets of "ZN Energy" by 4.02 million rubles, to minus 20.47 million rubles.
"The conclusion of a series of agreements in 2023 in the interests of the company for the acquisition of a 50% stake in project companies SES (solar power plants) located in the territory of the Republic of Armenia had an impact on the size of net assets and the growth of the deferred tax assets indicator.
The economic benefits from these projects LLC "ZN Energy" plans to receive in the form of dividends from 2030 to 2052, which will be directed to repay the loans received by the company for the development of the acquired projects," the document says.
