Stock exchange notices
Dublin, 11 January 2021. Alternus Energy Group Plc (“Alternus” or the “Company”), an international independent power producer of green energy, with a current focus in PV solar, announces that it will register its shares on the Norwegian OTC-list (“Euronext NOTC”), a market place for unlisted shares owned and operated by NOTC AS, a wholly owned subsidiary of Oslo Børs ASA, from and including 11th January 2021. Alternus will trade under the ticker “ALT”.
Alternus recently completed a private placement of EUR 27 million in conjunction with a successful placement of EUR 110 million of registered Green Bonds. The net proceeds from the capital placement will be used to accelerate growth via continued acquisitions of solar PV parks from an extensive pipeline identified with existing development partners and for general corporate purposes.
Vincent Browne, Chief Executive of Alternus Energy Group commented, “We are delighted to be listing on the Euronext NOTC market and also with the successful completion of the recent equity and bond placements. These activities represent a significant event for our company that the dedicated and passionate team at Alternus has been working towards for the past few years. The quality of institutional investors we now have as shareholders coupled with the public listing in Norway provides a solid financial platform for us to continue to further the opportunity we have created and capture our share of the fast-growing solar market. We now have the capital structure and quality investor base to show the market that we are strong and reliable partner which will further add to our ongoing acquisition activities. I am personally very proud of our achievements to date and look forward to continuing our current growth trajectory delivering strong shareholder value in the process.”
Following the private placement, the Company now has a total of 23,742,702 shares issued, each with a par value EUR 0.01, 20,058,720 of which are VPS registered with ISIN code IE00BLRPRP89. Based on the issue price of EUR 1.98 / NOK 20.9460 per share in the last private placement, the market capitalization is approximately EUR 47 million / NOK 497 million. In addition, there are currently 783,204 warrants outstanding.
The Company has also entered into an agreement whereby it will use the Euronext NOTC reporting systems with effect from 11th January 2021.
Arctic Securities AS is acting as manager in connection with the Euronext NOTC registration.
About Alternus Energy Group plc
Alternus Energy is a fast growing international independent power producer (‘IPP’), headquartered in Ireland, with a focus on the midsized utility solar PV market. The Company 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 (PPA’s) 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 with in excess of 150MWp capacity. The Company works closely with both local and international specialist development partners that provide a constant pipeline of new projects, currently over 1.2GW, across Europe for acquisition by the Company. Alternus aims to own and operate over 2GW’s of solar parks by the end of 2025.
Further information about the company may be found online at www.alternusenergy.com.
For more information, please contact:
Vincent Browne, Chairman and CEO
Tel: +353 1 9073445
Joseph E. Duey, CFO
Tel: +353 1 9073445