Pro-Active Investors, June 29th 2021 – The independent power producer says trading on the Euronext Growth Oslo stock exchange will provide a stable and strong platform to enable it to execute on its growth strategy and vision of owning and operating 3.5 GWs and becoming one of the leading European IPPs by 2025
Alternus Energy Group Plc (OSE:ALT) has announced its up-listing to the Euronext Growth Oslo stock exchange with trading set to commence on June 30, 2021.
Ahead of the up-listing, the European independent power producer (IPP) completed a private placement of 2.5 million new shares at a price of approximately €2.8 (NOK 28) per share on June 24, raising €7 million. The private placement increased the total amount of shares in the company to just over 26 million, resulting in a market capitalization of approximately €73 million.
“We will use the funds from the private placement to continue executing on our current 1.4 GWp contracted backlog of projects,” chairman and CEO Vincent Browne said in a statement.
“Trading on the Euronext Growth Oslo stock exchange will provide us with a stable and strong platform to enable the company to execute on our growth strategy and vision of owning and operating 3.5 GWs and becoming one of the leading European IPPs by 2025.”
Alternus Energy has grown in five years from being a small Romania-based operator of two solar parks with 6 MWp to becoming a pan-European independent power producer with 23 solar photovoltaic (PV) parks and a total installed capacity of 65 MWp in four countries.
It aims to own and operate over 3.5 GWs of solar parks by the end of 2025 and to become one of the largest pan-European IPPs by the end of the decade.
Contact the author at stephen.gunnion@proactiveinvestors.com
