Dublin, 15 February 2022 International Renewable Independent Power Producer (IPP) Alternus Energy Group Plc (OSE: ALT) (the “Company” or “Alternus”) is pleased to announce the appointment of Javade Chaudhri as an Independent non-Executive Director, with immediate effect. Mr. Chaudhri will replace Rolf Wikborg, who resigned on 14 February 2022, to take up a new role as head of the Company’s newly formed Advisory Board.
Mr. Chaudhri is a Washington-based international transactional lawyer. He has extensive experience in both the private and public sectors across multiple industries and international markets. This work has involved domestic and international mergers and acquisitions and strategic alliances. He has structured and negotiated energy, infrastructure, manufacturing, technology, education, and healthcare transactions. He also advises on corporate governance, ethics, and compliance.
From 2003 to 2013, he served as the general counsel, chief compliance officer, and chief environmental officer for utility and infrastructure company, Sempra Energy. Sempra Energy operates a global commodities and energy trading business in addition to owning and operating renewable and conventional power plants across the US, Mexico, and South America. Prior to joining Sempra Energy, Mr. Chaudhri was the general counsel and corporate secretary of Gateway, a leading global technology company.
Speaking about the new appointment, Vincent Browne, Chairman and CEO of Alternus said:
“We are delighted to welcome Javade to our Board of Directors. His expertise in mergers and acquisitions in international markets will be a major asset to the company as we continue to assess new business and market entry opportunities. His background in corporate governance and compliance will complement and bolster the current experience on the Alternus Board as we continue our international growth. We very much look forward to working with him and utilizing his experience to inform our business strategy.”
Mr. Chaudhri commented:
“I am thrilled to join the Alternus Board and hope to lend my knowledge and experience across the energy and technology sectors to assist the business as it continues to grow and develop.”
In addition, Alternus announces today that Mr. Rolf Wikborg has resigned from his position as a board member. He will, however, remain involved in the business as a member of the Company’s Advisory Board where he will continue to assist the Company in corporate development activities and help to build a valuable team of strategic advisors over time. There was no disagreement between the Company and Mr. Wikborg, who has been a member of the Board since December 2020. The Company expresses its sincere appreciation to Mr. Wikborg for his service and dedication to the Company during his tenure and in the future in his new role.
With Mr. Wikborg’s departure and Mr. Chaudhri’s appointment, the Alternus Board of Directors will continue to have five members: Vincent Browne (Chair of the Board), John McQuillan, Tone Bjørnov, Javade Chaudhri and John P. Thomas.
Mr. Thomas has been appointed Vice Chairman of the Board where he will continue to support Mr. Browne and the executive team as a senior member of the board in driving business growth and corporate development as he has done since joining in Company’s Board in 2017.
DISCLOSURE REGULATION This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
About Alternus Energy
Established in 2016, Alternus Energy Group Plc is an international vertically integrated independent power producer (IPP). Headquartered in Ireland and listed on the Euronext Growth Market – Oslo, the Company develops, constructs, owns, and operates utility scale solar PV projects in multiple countries. The Company also has offices in Rotterdam and America.
Forward Looking Statements: Certain information contained in this letter, including any information on the Company’s plans or future financial or operating performance and other statements that express the Company’s management’s expectations or estimates of future performance, constitute forward-looking statements. When used in this press release, words such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “would” and similar expressions, as they relate to us or our management team, identify forward-looking statements. Such forward-looking statements are based on the beliefs of management, as well as assumptions made by, and information currently available to, the Company’s management. Such statements are based on a number of estimates and assumptions that are subject to significant business, economic and competitive uncertainties, many of which are beyond the control of the Company. The Company cautions that such forward-looking statements involve known and unknown risks and other factors that may cause the actual financial results, performance or achievements of the Company could differ materially from the Company’s estimated future results, performance or achievements expressed or implied by the forward-looking statements. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.