Dublin, 31st August 2021, Fast growing pan-European Independent Power Producer (“IPP”) Alternus Energy Group Plc (OSE: ALT) (the “Company” or “Alternus”) continues its expansion and doubles its installed capacity with the acquisition of a 64.6 MWp Polish solar park from leading global renewable energy company BayWa r.e. The sales contract was signed between the parties in August 2021.
The solar park is in Witnica, close to the German border between Poznan and Berlin. It is Poland’s first subsidy-free utility-scale solar installation with a corporate power purchase agreement (PPA) in place. The project is also the largest in Alternus’ operational portfolio to date. BayWa r.e. will continue to supply operations and maintenance services at the solar park.
A 10-year virtual PPA has been secured with Górazdze Cement S.A., the Polish subsidiary of Heidelberg Cement Group.
Speaking about the exciting acquisition, Vincent Browne, Chairman and CEO of Alternus said:
“We are delighted to mark our official entry into the Polish market with the acquisition of the Witnica solar park, the first subsidy-free, PPA-backed utility-scale solar installation in Poland. We have plans for further expansion within the country over the next 12 months and hope to share updates on that shortly. It was a pleasure working with the BayWa r.e. team on this project and we look forward to future successful engagement with them across key markets.”
Commenting on the new partnership, Dr. Benedikt Ortmann, Global Director of Solar Projects at BayWa r.e. said:
“The sale to Alternus Energy aligns well with our goal of developing and selling additional solar capacity in Poland in future years and further highlights the attractiveness of renewable energy assets to investors. We look forward to future engagement with the Alternus team as both companies work to support the transition to renewables across Europe.”
“With this acquisition, Alternus increases its power generation capacity by 100% and now operates a diverse portfolio of 24 solar PV parks across five European countries with a combined capacity of 130 MWp” added CFO of Alternus, Joseph Duey.
About Alternus Energy Plc
Alternus Energy Group (“Alternus”) is a fast-growing pan-European vertically IPP that is currently listed on the Euronext Growth Market – Oslo. Headquartered in Ireland, the company is focused on the midsized utility scale solar PV market. Alternus owns and operates a diverse portfolio of utility scale solar PV parks on long-term government contracts and/or power purchase agreements with investment grade off-takers. Having started in 2016 with two parks and 6 MWp capacity, the current operational portfolio consists of 24 parks across Poland, Romania, Italy, the Netherlands and Germany totalling 130 MWp. Alternus works closely with local and international specialist development partners providing a constant pipeline of new projects for acquisition and construction. Alternus aims to own and operate over 3.5 GWs of solar parks by the end of 2025 and to become one of the largest pan-European IPPs by the end of the decade.
Forward Looking Statements: Certain information contained in this letter, including any information on the group’s plans or future financial or operating performance and other statements that express the group’s management’s expectations or estimates of future performance, constitute forward-looking statements (when used in this document, the words “anticipate”, “believe”, “estimate” and “expect” and similar expressions, as they relate to the group or its management, are intended to identify forward-looking statements). Such statements are based on a number of estimates and assumptions that, while considered reasonable by management at the time, are subject to significant business, economic and competitive uncertainties. The group cautions that such statements involve known and unknown risks, uncertainties and other factors that may cause the actual financial results, performance or achievements of the group to be materially different from the group’s estimated future results, performance or achievements expressed or implied by those forward-looking statements.
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About BayWa r.e. AG (BayWa r.e.)
At BayWa r.e. we r.e.think energy – how it is produced, stored and can be best used to enable the global renewable energy transition that is essential to the future of our planet.
We are a leading global developer, service supplier, distributor and solutions provider and have brought over 4 GW of energy online and manage over 10 GW of assets. We are also an Independent Power Producer with an expanding energy trading business.
BayWa r.e. works with businesses worldwide to provide tailored renewable solutions. Operating 100% carbon neutral, we are also committed to our own sustainability journey.
Every day, we are working hard to actively shape the future of energy in a diverse, equitable and inclusive workplace.
Our shareholders are BayWa AG, a €17.2 billion global business, and Energy Infrastructure Partners, a leader in energy infrastructure investment.
BayWa r.e. AG
Phone: +33 4 30 00 32 06