Risen Energy completes sale of 20 MW Romanian solar project to Alternus Energy

Alternus Energy Group Plc continues its European expansion with the acquisition of 20 MWp solar park LJG Green Source Energy Beta SRL (LJG) in Romania from Risen Energy GmbH.

The transaction provides an additional 20 MWp of solar PV power generation capacity, more than doubling the company’s power capacity in Romania to over 40 MWp.

LJG has been in operation since 2013 and produces approximately 25.5 GWh of power each year. The solar project generates revenues of approximately EUR6.4 million (US$7.7 million) from sales of energy under contracted EU incentive programs until 2028 through long-term Purchase Agreements.

Under the terms of the contracts, Alternus paid EUR22 million (US$26.45 million) for full ownership of the operating company having been adjusted for working capital changes between the contract reference date and the actual closing.