NOVA Real Estate
In August 2024, the NOVA Real Estate fund achieved a return of 0.41%, bringing the
total return for 2024 so far to 1.98 %.
During these months, an exclusive bidder and its advisors are conducting a thorough
due diligence of the portfolio – legal, technical, and commercial. At this point, the
process is proceeding as planned with no delays. Our goal remains aligned with our
commitment to investors, which is to complete the sale of the portfolio and pay all
investment shareholders by the end of the suspension period for redemptions, i.e., by
December 29, 2024.
Asset Management:
An amendment to the lease agreement between Orlice Park Shopping and Albert has
been signed. As part of this long-term lease relationship, we will obtain a newly
refurbished unit from the hypermarket operator. Albert will reduce its retail space by
approximately 2,000 square meters, and we are in advanced negotiations with two
major retailers for this newly available space. We believe these new concepts will fit
perfectly with the positioning of the shopping center, bringing fresh energy and
additional footfall to Orlice Park Shopping.
Report NOVA Real Estate
NOVA Green Energy
In recent months, we have successfully completed the announced optimization in the form of
replacing parts of panels at certain Slovak PV plants. The remaining portion of the older panels, which
are still functional, will serve as spare parts for any potential future failures of this panel type.
For the technology utilizing central inverters, we have commenced the overhaul and general
maintenance of this technological component. So far, this technology has shown minimal failure
rates, and overall, the inverters appear to be in good condition, although some individual components
are nearing the end of their lifespan. After the refurbishment of these components and the general
maintenance of the inverters, according to experts responsible for their upkeep, these inverters
should be capable of operation at least until the end of the operational support for these PV plants.
Similarly, as in previous years, a discussion is taking place in the Czech Republic regarding the
proposal for the 2025 budget, which includes a potential reduction of operational support for PV
plants. Whether any reduction will occur, or the extent of such a measure, is still unknown, but any
intervention is likely to have a negative impact on our two fund-owned plants. We will closely monitor
the situation.
In Slovakia, a consolidation package has been introduced, which includes the introduction of a socalled transaction tax, representing an additional burden for each company, including our 12. The
exact impact is currently being analyzed, and the reflection will be implemented after the final
approval by lawmakers.
The performance of Subfund 2 for August reached 0.38%.
Regarding the sale of the Hungarian portfolio, in recent days, we have received several indicative
offers for both projects there. We are currently evaluating the offers, with a detailed exchange of
follow-up questions ongoing, and a decision on how and with whom to proceed with due diligence
will be made shortly. The result of the next phase should be binding offers for the sale of both projects.
Report NOVA Green Energy
