Alternus Clean Energy completes sale of Italian solar portfolio and signs agreement to sell Dutch solar park

Alternus Clean Energy, Inc.

Sold 13 Italian photovoltaic plants (10.5 MWp) for €17.7 million to Undo S.r.l.
Expects net gain on sale to improve balance sheet equity and reduce high-yield debt.
Signed definitive agreement to sell 13.6 MWp solar park at Rotterdam Airport to Theia for ~€2.84 million (expected Q1 2024).
Net proceeds from both transactions will be used to pay down debt (Solis Bond).
After sale, Alternus retains ~210 MW of late-stage development projects in Italy.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Alternus Clean Energy, Inc. entered into Italy SPA with Undo S.r.l. valued at approximately €17.70 million (approximately $19.65 million) (effective 2023-12-28).

Action: entry
Agreement: equity purchase
Counterparty: Undo S.r.l.
Value: approximately €17.70 million (approximately $19.65 million)
Effective: 2023-12-28

Exact text from the filing

Entry into Share Purchase Agreements On December 28, 2023, Solis Bond Company DAC (“ Solis ”), a company incorporated under the laws of Ireland and indirect wholly owned subsidiary of Alternus Clean Energy, Inc. (the “ Company ”) entered into a Share Purchase Agreement (the “ Italy SPA ”) by and among Solis and Undo S.r.l., a company incorporated under the laws of Italy (“ Undo ”).

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Alternus Clean Energy, Inc. entered into RTHA SPA with Theia Investment (Netherlands) 1 B.V. valued at approximately €2.84 million (approximately $3.15 million) (effective 2023-12-28).

Action: entry
Agreement: equity purchase
Counterparty: Theia Investment (Netherlands) 1 B.V.
Value: approximately €2.84 million (approximately $3.15 million)
Effective: 2023-12-28

Exact text from the filing

Also on December 28, 2023, AEG JD 02 Limited (“ JD 02 ”), a private company limited by shares incorporated under the laws of Ireland and indirect wholly owned subsidiary of the Company, entered into a Share Purchase Agreement (the “ RTHA SPA ” and together with the Italy SPA, the “ SPAs ”) by and among JD 02 and Theia Investment (Netherlands) 1 B.V., a private limited liability company under the laws of the Netherlands (“ Theia ”).

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Alternus Clean Energy, Inc. filing history →

Source: SEC EDGAR

accession 0001213900-23-099349

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