Alternus to acquire 184MW Polish PV

• Projects range in size from 1MW to 10MW and also are presently owned by Projekt Solartechnik

Alternus Energy Group is to obtain added solar farms in Poland totalling 184MW.

The projects, located throughout the country, are either currently in building or have actually currently achieved a commercial operation date (COD).

They range in size from 1MW to 10MW as well as the majority have actually government-backed offtake contracts are already in place.

Alternus is obtaining the parks from neighborhood developer Projekt Solartechnik (PST), a Famur and also TDJ groups company.

Closing of the purchase is conditional on the successful achievement of certain conditions precedent.

The whole 184MW portfolio is expected to accomplish COD by mid-2023, with at the very least 45MW getting to COD by 30 November this year.

PST will execute the first operation as well as maintenance (O&M) activities message preliminary operation for a concurred minimum duration message installment, with Uper Energy, Alternus Energy's O&M subsidiary taking control of thereafter under long-lasting solution contracts.

Completion of the contracts will certainly see Alternus invest over PLN750m (EUR160m) for new built PV solar parks in Poland, to be moneyed from financial debt facilities.

The company's Polish operational portfolio presently totals 88.6 MW, including the 65MW Witnica park in the north west of the nation.

Alternus Energy president Vincent Browne stated: "This partnership with Projekt Solartechnik enables Alternus to further expand our presence in the Polish market, immediately and in time.

" Alternus has been and stays extremely energetic in Poland with a target to achieve over 1GW of functional PV solar there in the following few years.

" This transaction additionally underpins our dedication to Poland and brings our footprint to over 25% of this objective.

" We are presently in discussions with PST for additional projects on behalf of this goal and eagerly anticipate additional statements eventually. We are extremely comfortable with long term financial investment in Poland."

Projekt Solartechnik chief executive Maciej Marcjanik claimed: "We are extremely happy to partner with Alternus Energy as well as work together to accomplish COD for this portfolio and also with any luck additional projects that are controversial.

" We view this as a tactical partnership facilitating the advancement of our substantial pipe working towards achieving raised energy safety and security and national decarbonisation targets."