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Alternus Provides further detail and revenue guidance on the 1.4GW project backlog

By May 14, 2021May 20th, 2021No Comments

Dublin, 14th May 2021 – Further to the press release issued on April 9th, 2021, Alternus Energy Group Plc provides below further detail and revenue guidance on the additional 1.2GW of contracted backlog generated in Q1 2021 in addition to the 170MW backlog from December 2020.

Country  MWp Capacity 


Expected Annual Recurring  Revenue (‘ARR’) 

when operational 

(2023) (EUR M)

Netherlands  251  €17.2
Poland  108  €7.8
Italy  287  €22.3
Spain  277  €24.2
Greece  417  €24.3
Ireland  70  €3.9
Total  1,411  €99.7

The above table indicates the expected installed solar power capacity at the end of 2023  should all projects be successfully acquired and constructed. 

Alternus classifies a backlog project as one that has a very high chance (80-90%) of being  successfully acquired following due diligence. 

Expected revenues are based on acquired projects that are not operational at the time,  subsequently reaching operation in the planned timeframe and at expected energy sales  rates. 

There can be no assurance that all of the backlog projects will be completed or that the  projects that are completed will perform in accordance with Alternus’ expectations. Please  also see “Forward-Looking Statements” below. 

About Alternus Energy Group Plc 

Alternus Energy Group (NOTC: ALT) is a fast-growing pan-European independent power producer (“IPP”),  headquartered in Ireland, with a focus on the midsized utility solar PV market. Alternus owns and operates a  diverse portfolio of utility scale solar PV parks that connect directly to national power grids on long-term  government contracts (“FiT”) and/or Power Purchase Agreements (“PPAs”) with investment grade off-takers.  Having started in 2016 with two parks and 6 MWp capacity, the current portfolio consists of 39 owned or  contracted parks in Germany, Italy, Netherlands, Romania and Poland in excess of 150 MWp capacity. Alternus  works closely with both local and international specialist development partners that each provide a constant  pipeline of new projects for acquisition by Alternus. Alternus aims to own and operate over 2 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.

Forward Looking Statements: Certain information contained in this letter, including any information on the group’s plans or future financial or operating performance and other statements that express the group’s management’s expectations or estimates of future performance, constitute forward-looking statements (when used in this document, the words “anticipate”, “believe”, “estimate” and “expect” and similar expressions, asthey relate to the group or its management, are intended to identify forward-looking statements). Such statements are based on a number of estimates and assumptions that, while considered reasonable by management at the time, are subject to significant business, economic and competitive uncertainties. The group cautions that such statements involve known and unknown risks, uncertainties and other factors that may cause the actual financial results, performance or achievements of the group to be materially different  from the group’s estimated future results, performance or achievements expressed or implied by those  forward-looking statements.