ALTN purchases Netherlands-based 11.75MW solar farm

• Unisun Energy has sold Zonepark Rilland together with its 11.75-megawatt photovoltaic station to Alternus Energy Inc. at the price of about $11.8mn.

ALTN has purchased Zonepark Rilland with its 11.75-megawatt ground mount solar station located in the Dutch village of Rilland. Alternus has paid €10.5mn to Cooperatie Unisun Energy for the acquisition. The Rilland-based solar array has been operation for a year already. Ever since, its production has been exceeding the expectation.

The Netherlands power station will be Alternus’s biggest photovoltaic farm. Thanks to a PPA signed with a Dutch energy operator along with a FiT contract concluded with the authorities of the country, ALTN will get guaranteed immediate revenue and income growth. Addition to the annual revenue for 15 years minimum is estimated as 1.4mn USD at a gross margin of 75%.

In view of the latest acquisition, the recurring revenue from operational green power plants of the group contracted is predicted to exceed $5.7mn per year. This is more than double the revenue expected in the year gone by. As soon as all the plants owned start operating, the annual recurring revenue is forecasted to exceed $7.3mn from the existing assets.

Alternus Energy sees the new year as crucial for the company. As of the turn of the year, ALTN owns 50 megawatts of green power capacity. The 700-megawatt pipeline is currently being developed or already operational. 108 megawatts more are contracted to being acquired. The international renewable energy producer is planning to continue expanding in the Dutch market in cooperation with local solar developers including Unisun and others.