Pan-European independent power producer Alternus Energy told investors that it has acquired, for cash and shares, a 60% stake in Netherlands-based clean energy group Unisun Energy Holding B.V. For the majority stake in Unisun Energy, Alternus paid €650,000 ($792,356) in cash, and around €150,000 ($182,851) in shares (with 50,000 new shares issued).
This deal makes Alternus a fully vertically integrated independent solar power producer, with activities across the solar power chain and also provides the company a strong platform to grow in the Netherlands, adding over 250 MW of solar projects at various stages of development.
Speaking about the development, Alternus CEO Vincent Browne said, "Unisun has a highly experienced and dedicated team that has a proven track record in successfully delivering high quality renewables projects in multiple countries in Europe. With this team and along with our recently recruited and experienced CTO, Gary Swan, we now have the proven ability to develop and construct our own solar PV parks."
Browne believes that this capability will allow the company to reduce the initial build costs and generate long term operational savings. He also plans to effectively execute its current 1.4 GW contracted backlog.
The previous two owners will retain a 40% ownership and will remain with the business as CEO and COO of Unisun Energy.
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