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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