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Alternus sells 88.5 MW portfolio of Polish PV projects

An affiliate of Ireland’s Alternus Energy Group Plc has wrapped up the sale of 88.5 MW of solar park projects in Poland to a fund owned by private equity firm SINO-CEEF.

The transaction transferred the ownership of the project vehicles behind six photovoltaic (PV) schemes, Alternus said in a bourse filing. The assets were offloaded by Solis Bond Company DAC, which signed a preliminary deal for the move with SINO-CEE Fund II last November.

Alternus explained the sale is part of a strategic review aimed at enhancing the company’s balance sheet and streamlining its operations. The company expects to book a net gain that will help it cut existing debt.

Alternus Energy seeks to reach 3 GW of operating assets within five years, either through organic development and strategic opportunities. Last week, it announced a definitive agreement to sell Zonnepark Rilland BV, a company holding the rights to an 11.8-MW solar project in the Netherlands. The transaction is seen to be finalised in the current quarter.


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