Alternus Energy is therefore preparing to acquire a further 15 MW of capacity in Poland and Italy.
Alternus Energy acquires 15 solar farms
The issue was priced at 102% of face value, giving a yield of 5.5%.
Representing a spread of around 608 basis points, settlement is scheduled for November 12 of this year.
Current outstanding bonds now stand at 130 million euros, with a borrowing limit of 200 million.
According to Vice President Vincent Browne, “our portfolio of operating European solar assets represents a very attractive investment opportunity”.
He argues that the investment will serve to strengthen the Group’s position in its key markets.
The aim is also to increase capacity by 12% and long-term EBITDA by around 8%.
The acquisition, scheduled for completion in December, aims to achieve an operating capacity of 3.5 GW by 2025.
An expanding group
Alternus Energy Group is a pan-European independent power producer (IPP).
Based in Ireland, the company focuses on the medium-sizedsolar photovoltaic market.
It owns and operates several solar parks through long-term government contracts and/or power purchase agreements with off-takers.
Alternus also works with local and international specialist partners to acquire and build projects.
Present in Poland, Romania, Italy, the Netherlands and Germany, the company has a total capacity of 130 MW.
With this expansion into Poland and Italy, the company aims to become one of the largest pan-European IPPs by the end of 2020.
