Alternus Clean Energy subsidiary completes sale of 88.5 MW Polish solar portfolio for €54.4M

Alternus Clean Energy, Inc.

Sold 100% of six SPVs holding 88.5 MW solar farms in Poland to Donau Investment SARL.
Total consideration of €54.4M (~$59.1M) includes purchase price and shareholder loan repayment.
Proceeds used to pay down Solis Bond debt; expects net gain to improve balance sheet equity.
Sale part of strategic review to reduce high-yield debt and improve debt/EBITDA ratios.

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 Final Share Purchase Agreement with Donau Investment SARL valued at approximately €54.4 million (approximately $59.1 million) (effective 2024-01-19).

Action: entry
Agreement: asset purchase
Counterparty: Donau Investment SARL
Value: approximately €54.4 million (approximately $59.1 million)
Effective: 2024-01-19

Exact text from the filing

On January 19, 2024, Solis Bond Company Designated Activity Company (“ Solis ”), a company incorporated under the laws of Ireland and indirect wholly owned subsidiary of Alternus Clean Energy, Inc. (the “ Company ”) entered into a Final Share Purchase Agreement (the “ Final SPA ”) by and between Solis and Donau Investment SARL, a private limited liability company formed under the laws of Luxembourg (“ Donau ,” and together with Solis, the “ Parties ”), pursuant to the Preliminary Share Purchase Agreement (the “ Preliminary SPA ,” and together with the Final SPA, the “ Poland SPA ”) previously entered into on December 22, 2023, by and between the Parties and previously disclosed on the Euronext Growth Oslo stock exchange (the “ Euronext ”) on December 22, 2023.

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Source: SEC EDGAR

accession 0001213900-24-005167

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