The deal also provides a strong platform for Alternus to grow in the Netherlands and add over 250 MW of solar projects at various stages of development.
(NOTC: ALT) announced to investors that they had acquired a 60% stake in the Dutch clean energy group Unisun Energy Holding BV for cash and shares, making the former a “fully vertically integrated independent solar power producer” with activities across the solar sector makes energy chain.
The deal also provides Alternus with a strong platform for growth in the Netherlands and adds over 250 MW of solar projects in various stages of development.
READ: Alternus Energy saw a significant increase in the backlog of contracted projects in the first quarter
“Unisun has a very experienced and dedicated team that has a proven track record of successfully implementing high quality renewable energy projects in several European countries,” said Vincent Browne, CEO of Alternus, in a statement.
“With this team and together with our recently recruited and experienced CTO Gary Swan, we now have the proven ability to develop and build our own PV parks.
“This ability will allow us to reduce initial construction costs and achieve long-term operational savings. The lower cost of capital reduces our need for external capital as the EPC margins otherwise paid to third parties can now be reinvested, creating immediate and lasting shareholder value creating We can also plan more effectively to fulfill our current order book of 1.4 GW. “
For the majority stake in Unisun Energy, Alternus paid € 650,000 in cash and around € 150,000 in shares (with 50,000 new shares issued).
The two previous owners retain a 40% stake and will remain with the company as CEO and COO of Unisun Energy.
Unisun, headquartered in Rotterdam, is run by industry veterans. CEO Andre Kempenaars and COO Leon Heijkoop have built and operated over 500 MW of wind and solar projects together over the past ten years.
The Unisun team currently comprises 10 international industry specialists who have jointly managed and successfully completed over 1 GW of energy projects in their careers so far. Unisun also offers O&M services to existing customers through its wholly owned subsidiary Uper Energy Europe BV. The group also provides engineering procurement and construction (EPC) services.
In four years, Alternus has developed from a small Romanian operator of two solar parks with 6 MWp to a pan-European independent power producer with 25 photovoltaic parks (PV) and a total installed capacity of 30.5 MWp in four countries.
The aim is to own and operate more than 2 GW solar parks by the end of 2025 and to become one of the largest pan-European IPPs by the end of the decade.
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