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Alternus Energy set to exceed 270MW of solar in Poland with completion of agreements to acquire – 184 MW of solar assets from leading developer partner Projekt Solartechnik

By June 27, 2022July 15th, 2022No Comments

Dublin, 27 June 2022 International renewable independent power producer (IPP) Alternus Energy Group Plc (OSE: ALT) (the “Company” or “Alternus”) has signed agreements to acquire an additional 184 megawatts (MW) of solar PV in Poland. The projects, located across the country, are either currently in construction or have already achieved commercial operation date (COD). The parks range in size from 1 – 10MW and the majority have Government-backed offtake contracts in place.

Alternus is acquiring the parks from experienced local developer, Projekt Solartechnik (“PST”), a FAMUR and TDJ groups company, as the first in an ongoing partnership for the development and installation of solar parks in Poland. Closing of the transaction is conditional on the successful achievement of certain conditions precedent.

The entire 184MW portfolio is expected to achieve COD by mid-2023, with at least 45MW reaching COD by 30 November 2022. PST will perform the initial operation and maintenance (O&M) activities post initial operation for an agreed minimum period post-installation, with Uper Energy BV, Alternus Energy’s O&M subsidiary taking over thereafter under long-term service contracts.

Completion of the contracts will see Alternus invest over PLN 750 million (€160 million) for the construction of these Polish solar parks, to be funded from debt facilities.

The Company’s Polish operational portfolio currently totals 88.6MW, including the 65MW Witnica park in north west Poland that was the first solar PPA project when Alternus purchased it in August 2021 and the recent acquisition of 24MW of operational parks acquired from another local developer partner since then.

 Speaking about the latest agreement, Vincent Browne, Chairman and CEO of Alternus Energy, said:

“This partnership with Projekt Solartechnik enables Alternus to further expand our presence in the Polish market, immediately and over time. Alternus has been and remains very active in Poland with a target to achieve over 1GW of operational PV solar there in the next few years. This transaction further underpins our commitment to Poland and brings our footprint to over 25% of this goal. We are currently in discussions with PST for additional projects in support of this goal and look forward to further announcements in due course. We are very comfortable with long term investment in Poland.”

 Maciej Marcjanik CEO, Projekt Solartechnik added:

 “We are very pleased to partner with Alternus Energy and work together to achieve COD for this portfolio and hopefully additional projects that are under discussion. We view this as a strategic partnership facilitating the advancement of our significant pipeline working towards achieving increased energy security and national decarbonisation targets.”

Further detail on the contract is attached to Alternus’ OSE filing and is available to view on the Alternus Energy website here https://alternusenergy.com/reports-presentations/  under Stock Exchange Notices.

 

About Alternus Energy

Alternus Energy Group Plc is an international vertically integrated independent power producer (IPP). Headquartered in Ireland, and listed on the Euronext Growth Oslo, the Company develops, installs, owns and operates midsized utility scale solar parks. The Company also has offices in Rotterdam and America. With over 150MW’s of operational assets in five European countries, Alternus aims to have over 3.5 gigawatts of PV solar parks in operation by the end of 2025.

 

About Projekt Solartechnik

Projekt Solartechnik (PST) is a company with over ten years of experience gained in European markets. It has built solar power stations in multiple locations, including England, Belgium, France, Germany, Romania, and Hungary. Present in Poland since 2011, the company specialises in photovoltaic projects, industrial energy, and wind farms. As of May 2021, it has become a part of the FAMUR Group and TDJ.

For more information, visit www.projektsolartechnik.com

 

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