Dublin, June 29th 2021 – Pan-European independent power producer (“IPP”), Alternus Energy Group Plc (OSE:ALT) (the “Company” or “Alternus”), is excited to announce its up-listing to the Euronext Growth Oslo stock exchange with trading set to commence on June 30th 2021.
“This is an immense achievement and milestone development for Alternus. I am very proud of the Company’s accomplishments that have enabled us to get to this point and which could not have happened without the hard work and dedication of all those involved, the Alternus team, our partners, investors and the shareholders, said Vincent Browne, Executive Chairman and CEO of Alternus.
“We will use the funds from the private placement to continue executing on our current 1.4 GWp contracted backlog of projects. Trading on the Euronext Growth Oslo stock exchange will provide us with a stable and strong platform to enable the Company to execute on our growth strategy and vision of owning and operating 3.5 GWs and becoming one of the leading European IPPs by 2025,” Browne continued.
On June 24th the Company successfully completed a private placement worth EUR 7 million for 2,500,000 new shares at a price of approximately EUR 2.8 (NOK 28) per share. This brings the total amount of shares in the Company to 26,182,276 following the private placement resulting in a post-money capitalisation of the Company of approximately EUR 73 Million. Arctic Securities AS acted as sole global coordinator and bookrunner in the private placement and subsequent listing on Euronext Growth Oslo.
The Company will hold a webcast via Norwegian company Xtrainvestor at on June 30th at 11am CEST at which Vincent Browne, Chairman and CEO of Alternus will present the investor presentation and hold a live Q&A session. The webcast can be accessed at the following link:
About Alternus Energy Plc
Alternus Energy Group (OSE:ALT) is a fast-growing pan-European independent power producer (“IPP”), headquartered in Ireland, with a focus on the midsized utility scale solar PV market. Alternus owns and operates a diverse portfolio of utility scale solar PV parks that connect directly to national power grids on long-term government contracts (“FiT”) and/or Power Purchase Agreements (“PPAs”) with investment grade off-takers. Having started in 2016 with two parks and 6 MWp capacity, the current portfolio consists of 39 owned or contracted parks in Germany, Italy, Netherlands, Romania and Poland in excess of 150 MWp capacity. Alternus works closely with both local and international specialist development partners that each provide a constant pipeline of new projects for acquisition by Alternus. 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.