Dublin, 14th May 2021 – Further to the press release issued on April 9th, 2021, Alternus Energy Group Plc provides below further detail and revenue guidance on the additional 1.2GW of contracted backlog generated in Q1 2021 in addition to the 170MW backlog from December 2020.
|Expected Annual Recurring Revenue (‘ARR’)
(2023) (EUR M)
The above table indicates the expected installed solar power capacity at the end of 2023 should all projects be successfully acquired and constructed.
Alternus classifies a backlog project as one that has a very high chance (80-90%) of being successfully acquired following due diligence.
Expected revenues are based on acquired projects that are not operational at the time, subsequently reaching operation in the planned timeframe and at expected energy sales rates.
There can be no assurance that all of the backlog projects will be completed or that the projects that are completed will perform in accordance with Alternus’ expectations. Please also see “Forward-Looking Statements” below.
About Alternus Energy Group Plc
Alternus Energy Group (NOTC: ALT) is a fast-growing pan-European independent power producer (“IPP”), headquartered in Ireland, with a focus on the midsized utility 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 2 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, asthey 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.