DUBLIN, IRELAND, April 09, 2021 (GLOBE NEWSWIRE) — by way of NewMediaWire – Quick-growing pan-European unbiased energy producer, Alternus Power Group Plc (NOTC: ALT) (the “Firm”, “Alternus” or “AEG”), is happy to announce the current issuance of €9 million of convertible notes lead by AVG Group Sarl (AVG), a Luxembourg based mostly asset supervisor targeted on Nordic ESG and Affect™ investing within the Nordics. AVG offered €8 million of the full funding with the rest being offered by non-public people.
“We’re delighted to have AVG as a brand new financing accomplice and look ahead to working with them going ahead as we proceed to develop Alternus over the subsequent few years in our persevering with mission to turn out to be one of many largest pan-European photo voltaic operators by the tip of the last decade,” stated Vincent Browne, CEO.
Alternus determined to maneuver its US itemizing to the Euronext trade in Oslo because it represents a horny marketplace for renewable associated firms and on account of its lively buying and selling inside the inexperienced bond markets. Oslo, additionally supplies a European based mostly itemizing for a European targeted firm.
AVG joins different Nordic traders in Alternus and plans additional funding to provide Nordic based mostly capital to Alternus over time with a specific concentrate on jap European international locations. Along with funding, AVG and its workforce will assist provide revolutionary options to the construction of the photo voltaic parks with some hybrid alternatives and assist provide Alternus with the newest applied sciences coming from Norway and the Nordics.
“Working with Alternus helps show that the Nordics are main the way in which by way of inexperienced investments. Vincent and his workforce have confirmed their efficiency capabilities over current years and proceed to impress of their capacity to supply glorious photo voltaic tasks with long run optimistic revenue streams. New innovation and monetary markets within the Nordics ought to show to assist push the world in the direction of a cleaner and greener future and AVG appears to be like ahead to enjoying its half on this,” says Karl Andersen, Founder and CEO of AV Group.
Alternus has posted additional particulars of the transaction on the Euronext NOTC service.
About Alternus Power Group Plc.
Alternus Power Group (NOTC: ALT) is a fast-growing pan-European unbiased energy producer (“IPP”), headquartered in Eire, with a concentrate on the midsized utility photo voltaic PV market. Alternus owns and operates a various portfolio of utility scale photo voltaic PV parks that join on to nationwide energy grids on long-term authorities contracts (“FiT”) and/or Energy Buy Agreements (“PPAs”) with funding grade off-takers. Having began in 2016 with two parks and 6 MWp capability, the present portfolio consists of 39 owned or contracted parks in Germany, Italy, Netherlands, Romania and Poland in extra of 140 MWp capability. Alternus works carefully with each native and worldwide specialist growth companions that every present a continuing pipeline of recent tasks for acquisition by Alternus. Alternus goals to personal and function over 2 GWs of photo voltaic parks by the tip of 2025 and to turn out to be the one of many largest pan-European IPPs by the tip of the last decade.
About AVG Group Sarl
AVG Group Sarl is a Luxembourg based mostly asset supervisor that specialises in scaling Nordic ESG and Affect® expertise and infrastructure EPC firms from the Nordics into the worldwide market. AVG has a devoted workforce targeted on local weather options and is a UN PRI signatory.