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Alternus Energy acquires a portfolio of solar PV projects in Spain

Renewable power producer Alternus Energy Group has expanded its project ownership by acquiring a 32 MWp portfolio of solar PV projects in Spain.

The company announced that the acquisition has been made in Valencia of Spain for the projects, which are known as the "NF Projects".

It informed that the portfolio consists of six projects among which five, with a capacity of 24.4 MWp, are likely to reach operation in 2024. The two other projects are planned to enter into operations in 2025.

The company informed that the 10-year average annual revenues from the initial portfolio offive can reach $2.3 million, while other connections could reach $2.8 million, a local report mentioned.

Banco Internacional Español-Bankinter has provided the initial funding for the acquisition.

Juan Carlos Martinez Amago, Country Manager for Alternus in Spain, commented,

"We are excited to grow our footprint in Spain with this attractive set of

projects. This deal strengthens our presence through the collaboration with

local partners.”

Meanwhile, Alternus Chief Executive Officer Vincent Browne was quoted in a statement, "This portfolio acquisition demonstrates our ability to penetrate Spain, a relatively new market for us in Europe. The NF Projects is a valuable addition to our pipeline.”


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