Alternus Energy set to exceed 270MW of solar in Poland with completion of agreements to acquire 184 MW of solar assets from leading developer partner Projekt Solartechnik

Alternus Energy set to exceed 270MW of solar in Poland with completion of agreements to acquire 184 MW of solar assets from leading developer partner Projekt Solartechnik

27 Jun 2022 08:00 CEST

Dublin, 27 June 2022 International renewable independent power producer (IPP)
Alternus Energy Group Plc (OSE: ALT) (the "Company" or "Alternus") has signed
agreements to acquire an additional 184 megawatts (MW) of PV solar in Poland.
The projects, located across the country, are either currently in construction
or have already achieved commercial operation date (COD). The parks range in
size from 1 - 10MW and the majority have Government-backed offtake contracts
already in place.

Alternus is acquiring the parks from experienced local developer, Projekt
Solartechnik ("PST"), a FAMUR and TDJ groups company, as the first in an ongoing
partnership for the development and installation of PV solar parks in Poland.
Closing of the transaction is conditional on the successful achievement of
certain conditions precedent.

The entire 184MW portfolio is expected to achieve COD by mid-2023, with at least
45MW reaching COD by November 30, 2022. PST will perform the initial operation
and maintenance (O&M) activities post initial operation for an agreed minimum
period post installation, with Uper Energy BV, Alternus Energy's O&M subsidiary
taking over thereafter under long-term service contracts.

Completion of the contracts will see Alternus invest over PLN 750 million (€160
million Euro) for new constructed PV solar parks in Poland, to be funded from
debt facilities, and supporting Poland's national decarbonisation goals.

The Company's Polish operational portfolio currently totals 88.6MW, including
the 65MW Witnica park in north west Poland that was the first commercial PPA
offtake project when Alternus purchased it in August 2021 and the recent
acquisition of 24MW of operational parks acquired from another local developer
partner since then.

Speaking about the latest agreement, Vincent Browne, Chairman and CEO of
Alternus Energy, said:

"This partnership with Projekt Solartechnik enables Alternus to further expand
our presence in the Polish market, immediately and over time. Alternus has been
and remains very active in Poland with a target to achieve over 1GW of
operational PV solar there in the next few years. This transaction further
underpins our commitment to Poland and brings our footprint to over 25% of this
goal. We are currently in discussions with PST for additional projects in
support of this goal and look forward to further announcements in due course. We
are very comfortable with long term investment in Poland."

Maciej Marcjanik CEO, Projekt Solartechnik added:

"We are very pleased to partner with Alternus Energy and work together to
achieve COD for this portfolio and hopefully additional projects that are under
discussion. We view this as a strategic partnership facilitating the advancement
of our significant pipeline working towards achieving increased energy security
and national decarbonisation targets."

Further detail on the contract is attached to Alternus' OSE filing and is
available to view on the Alternus Energy website here
https://alternusenergy.com/reports-presentations/ under Stock Exchange Notices.

About Alternus Energy

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 America. With
over 150MW's of operational assets in five European countries, Alternus aims to
have over 3.5 gigawatts of PV solar parks in operation by the end of 2025.

For more information, visit www.alternusenergy.com

About Projekt Solartechnik

Projekt Solartechnik (PST) is a company with over ten years of experience gained
in European markets. It has built solar power stations in multiple locations,
including England, Belgium, France, Germany, Romania, and Hungary. Present in
Poland since 2011, the company specialises in photovoltaic projects, industrial
energy, and wind farms. As of May 2021, it has become a part of the FAMUR Group
and TDJ.
For more information, visit www.projektsolartechnik.com

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including any information on the Company's plans or future financial or
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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
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to update these statements for revisions or changes after the date of this
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Source

Alternus Energy Group Plc

Provider

Oslo Børs Newspoint