Italeaf announced that TerniEnergia, as part of its international development strategy, finalized the establishment in Abu Dhabi of the company TerniErgia Middle East Power LLC under the UAE regulations, 51% owned by Khalid Al Hamed Group LLC and 49% by TerniEnergia, which will operate in the Middle East and the Gulf Cooperation Council (GCC), with registered capital of AED 150,000. In particular, TerniEnergia and Al Hamed Group have signed a shareholders' agreement which governs the operation of the company, subject to a strategic agreement already signed by the parties and communicated to the market on 29 April 2014. The profits from the activity of the company will be distributed as: 75% to TerniEnergia and 25% to Khalid Al Hamed Group LLC. The partnership between the two Groups, will see Khalid Al Hamed Group LLC engaged primarily in the management of relationships with government authorities in the area, in facilitating the authorization processes, in the acquisition of requirements and support in negotiations with financial partners and with the banking institutions to support the business development, and TerniEnergia with responsibility for management of the operational activities and the industrial sites. Through this management model, the parties aim to combine and enhance the know-how and technological expertise in the field of renewable energy and environmental industry of TerniEnergia with the financial capacity and business development skills of Al Hamed Group, allowing to TerniErgia Middle East Power LLC a rapid growth process.

TerniErgia Middle East Power LLC have a Board of Directors composed of two members in the persons of the Chairman and CEO Khalid Al Hamed Group LLC, Sheikh Khalid Bin Ahmed Al Hamed, and the Chairman and CEO of TerniEnergia, Stefano Neri.