Dublin, 17 May 2023, International Renewable Independent Power Producer (IPP) Alternus Energy Group Plc (OSE: ALT) (“Alternus” or the “Company”) today updates on recent business activities related to its wholly owned subsidiary, Solis Bond Company DAC (“Solis”), and the temporary waivers of the financial covenants and amendments approved by the bondholders in Solis’ FRN senior secured EUR 200,000,000 green bonds 2021/2024 (ISIN NO0010914914), as previously attached to the Company’s notice filed on 27 March 2023.
Alternus and Solis are pleased to announce that the Company and a representative group of the bondholders have agreed to an extension of the temporary waivers until 30 September 2023. To support Solis’ efforts in exploring alternative funding options, including sale of certain assets, equity offerings and/or refinancing, and to ensure adequate and clear communication between Solis and the bond trustee going forward, the bond trustee will be granted certain additional information rights and have the right to appoint half of the members of the board of directors of Solis, in addition to the members of the board appointed by Alternus.
For further information about the proposal and the terms and conditions of the extension of the temporary waivers, please refer to the attached notice to written resolution.
About Alternus Energy Group Plc
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 the United States. For more information visit www.alternusenergy.com.
Forward Looking Statements: Certain information contained in this letter, including any information on the Company’s plans or future financial or operating performance and other statements that express the Company’s management’s expectations or estimates of future performance, constitute forward-looking statements. When used in this press release, words such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “would” and similar expressions, as they relate to us or our management team, identify forward-looking statements. Such forward-looking statements are based on the beliefs of management, as well as assumptions made by, and information currently available to, the Company’s management. Such statements are based on a number of estimates and assumptions that are subject to significant business, economic and competitive uncertainties, many of which are beyond the control of the Company. The Company cautions that such forward-looking statements involve known and unknown risks and other factors that may cause the actual financial results, performance or achievements of the Company could differ materially from the Company’s estimated future results, performance or achievements expressed or implied by the forward-looking statements. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.