Alternus Energy acquisition of 7 operating Italian solar projects
Alternus Energy Inc has announced a total acquisition that will consist of 7 operating photovoltaic plants located in Italy. In aggregate, the plants have a total installed capacity of 5.1 MW.
The total compensation for the acquisition is approximately US$8.1 million cash, less US$1.5 million held back for the closing of the final plant, and less US$0.4 million held in escrow against certain tax open items and as a hold back for any unexpected items. The company will utilize its existing credit facility to fund the transaction. The closing of the final plant is expected to occur by June 30, 2019.
The 5.1 MW of parks currently generate annual revenues in excess of US$1.5 million at over 85% gross margins. Alternus Energy expects to increase the annual production of the parks by about 20% after some identified remedial work which would then increase both annual revenues and gross margins by the same percentage.
Country updates
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May 20, 2019
Athena receives binding offers from Ardian and Glennmont for Italian and Spanish renewable assets
Athena Investments A/S has received binding offers from Ardian Infrastructure and Glennmont Partners for the acquisition of the following Athena’s wind and solar assets in Italy and Spain: &nda...
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May 16, 2019
Cubico has completed the purchase of a 26.4 MW solar portfolio from Partners Group
Cubico Sustainable Investments has completed the purchase of a 26.4-MW portfolio of operational solar parks in Italy from funds managed or advised by Swiss private markets investor Partners...
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April 22, 2019
NORD/LB and BayWa r.e. close financing for wind farms
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April 15, 2019
Macquarie fund sets to sell Renvico Holding
Macquarie European Infrastructure Fund 4, a fund run by Macquarie Group Ltd is looking for companies to buy its Renvico Holding. Renvico, a company created in 2015, manages wind farms in Italy an...
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April 10, 2019
Total Eren completes purchase of NovEnergia Holding Company (NHC)
French renewable independent power producer (IPP) Total Eren has completed the purchase of NovEnergia Holding Company (NHC), a southern European power firm, after the approval of all stakeholders and...
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