Alternus Energy to grow Polish solar ops with 184-MW acquisition

Solar panels. Featured Image: Jackiso/Shutterstock.com

June 29 (Renewables Now) - Ireland-based renewable independent power producer (IPP) Alternus Energy Group Plc (OSE:ALT) has agreed to buy a portfolio of Polish solar projects with a combined capacity of 184 MW.

The bundle consists of schemes currently under construction, as well as already commissioned power plants, Alternus said on Monday without disclosing the value of the purchase. The assets are being acquired from Polish developer Projekt Solartechnik.

The portfolio, spread across Poland, incorporates photovoltaic (PV) projects of between 1 MW and 10 MW, the majority of which will be run through government-backed offtake contracts. While at least 45 MW of all projects are planned to go live by end-November, the entire capacity will be operational by the middle of 2023.

The plants will be initially overseen by Projekt Solartechnik and subsequently managed by Alternus' O&M unit Uper Energy BV.

Alternus noted that the deal's closing depends on the fulfillment of certain conditions precedent and its completion is set to expand its Polish solar portfolio to 270 MW. The company plans to invest over PLN 750 million (USD 167.9m/EUR 159.7m) to build new capacity as it aims to have more than 1 GW of solar parks in operation in Poland “in the next few years.”

“We are very comfortable with long-term investment in Poland,” said CEO Vincent Browne. He added that Alternus is holding talks with Projekt Solartechnik to get hold of additional projects.

(PLN 1.0 = USD 0.224/EUR 0.213)

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Veselina Petrova is one of Renewables Now's most experienced green energy writers. For several years she has been keeping track of game-changing events both large and small projects and across the globe.

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