Master Operations and Maintenance Agreement to Cover All Alternus Energy Solar Projects in Germany, Italy, Romania and Netherlands
New York, NY, June 6, 2019 – Globe Newswire — Alternus Energy Inc. (OTC: ALTN) (the “Company” or “Alternus”), a global renewable energy company, signed a Master Operations and Maintenance (O&M) agreement with BayWa r.e. (“BayWa”). BayWa will provide 24/7 monitoring, preventative maintenance and quality inspections for all Alternus solar projects in Germany, Italy, Romania, and Netherlands.
BayWa r.e. (www.baywa-re.com) is a leading global renewable energy developer, service supplier, wholesaler and energy solutions provider. BayWa r.e has operations throughout Europe, North America and Asia-Pacific, and are strategically investing in new and emerging markets. Expertise, creativity and a knowledge base is built on the experience of successfully bringing over 2.5 GW of renewable energy projects online and managing more than 6 GW of renewable assets around the globe. A subsidiary of BayWa AG, a EUR 16 billion business established for over 90 years.
Alternus Energy Chief Financial Officer, Joseph Duey, commented, “We are excited to work with BayWa. Partnering with a global firm like BayWa provides added protection and assurance that our solar parks are running at optimum output and well maintained for the future. As a long-term owner and operator of assets this is key to providing consistent revenue and EBITDA for the Company.”
About Alternus Energy Inc.
Alternus Energy, Inc. is a global renewable energy company that owns and operates Utility Scale Solar parks internationally. Each solar park generates clean energy every day that is sold to national power grids under long term, government counterparty, fixed price contracts. The Company currently has operational solar parks in Germany, Italy and Romania with contracts in place to add additional solar parks in the Netherlands. For further information please go to: www.AlternusEnergy.com
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