Alternus Sheds $100 Million of Debt and Payables, Improves Shareholder Equity Position By Circa $45 Million From Disposal Of Certain Subsidiaries
Alternus Clean Energy, Inc. (NASDAQ: ALCE) has announced the sale of its subsidiary Solis Bond Company DAC and its Romanian subsidiaries to Solis Trustee Special Vehicle for €1.00. This strategic move has resulted in the removal of approximately $100 million in debt and payables related to Solis activities and is expected to improve shareholders equity by approximately $45 million.
The sale aligns with Alternus' ongoing efforts to reduce debt and strengthen its balance sheet as it repositions from an exclusive focus on utility-scale solar to a more comprehensive energy provider. CEO Vincent Browne highlighted the company's recent announcement of a joint venture with Hover Energy to deliver clean energy microgrids as an example of entering high-value complementary segments.
Alternus is also in advanced discussions to acquire battery storage capabilities and is targeting additional joint ventures and investments in other energy segments to support its wider energy provision growth strategy.
Alternus Clean Energy, Inc. (NASDAQ: ALCE) ha annunciato la vendita della sua controllata Solis Bond Company DAC e delle sue filiali romene a Solis Trustee Special Vehicle per €1.00. Questa mossa strategica ha comportato la rimozione di circa 100 milioni di dollari in debiti e crediti relativi alle attività di Solis ed è prevista per migliorare il patrimonio netto degli azionisti di circa 45 milioni di dollari.
La vendita si allinea con gli sforzi continui di Alternus per ridurre il debito e rafforzare il proprio bilancio mentre si riposiziona da un'esclusiva concentrazione sull'energia solare su scala industriale a un fornitore di energia più completo. Il CEO Vincent Browne ha sottolineato l'annuncio recente della creazione di una joint venture con Hover Energy per fornire microreti energetiche pulite come esempio dell'ingresso in segmenti complementari di alto valore.
Alternus è anche in fase avanzata di discussioni per acquisire capacità di stoccaggio di batterie e mira a ulteriori joint venture e investimenti in altri settori energetici per supportare la sua più ampia strategia di crescita nell'erogazione di energia.
Alternus Clean Energy, Inc. (NASDAQ: ALCE) ha anunciado la venta de su subsidiaria Solis Bond Company DAC y sus subsidiarias rumanas a Solis Trustee Special Vehicle por €1.00. Este movimiento estratégico ha resultado en la eliminación de aproximadamente 100 millones de dólares en deudas y cuentas por pagar relacionadas con las actividades de Solis y se espera que mejore el patrimonio de los accionistas en aproximadamente 45 millones de dólares.
La venta está alineada con los esfuerzos continuos de Alternus para reducir la deuda y fortalecer su balance, mientras se reposiciona de un enfoque exclusivo en energía solar a gran escala a un proveedor de energía más integral. El CEO Vincent Browne destacó el reciente anuncio de una empresa conjunta con Hover Energy para ofrecer microredes de energía limpia como un ejemplo de la entrada en segmentos complementarios de alto valor.
Alternus también está en conversaciones avanzadas para adquirir capacidades de almacenamiento de baterías y está buscando más empresas conjuntas e inversiones en otros segmentos de energía para apoyar su estrategia de crecimiento más amplia en el suministro de energía.
Alternus Clean Energy, Inc. (NASDAQ: ALCE)는 자회사 Solis Bond Company DAC와 루마니아 자회사를 Solis Trustee Special Vehicle에 €1.00에 판매한다고 발표했습니다. 이 전략적 결정은 Solis의 활동과 관련된 약 1억 달러의 부채 및 채무를 제거하는 결과를 가져왔으며, 주주 자본을 약 4500만 달러 개선할 것으로 예상됩니다.
이번 판매는 Alternus가 부채를 줄이고 재무 구조를 강화하기 위한 지속적인 노력에 부합하며, 전례 없는 대규모 태양광 집중에서 보다 포괄적인 에너지 공급자로의 전환을 하고 있습니다. CEO Vincent Browne는 깨끗한 에너지 마이크로 그리드를 제공하기 위해 Hover Energy와의 공동 투자를 새롭게 발표한 예를 들어, 고부가가치 보완 부문으로의 진입을 강조했습니다.
Alternus는 배터리 저장 능력을 확보하기 위한 고급 논의도 진행 중이며, 더 넓은 에너지 제공 성장 전략을 지원하기 위해 다른 에너지 분야에서 추가적인 합작 투자 및 투자를 목표로 하고 있습니다.
Alternus Clean Energy, Inc. (NASDAQ: ALCE) a annoncé la vente de sa filiale Solis Bond Company DAC ainsi que de ses filiales roumaines à Solis Trustee Special Vehicle pour €1,00. Ce mouvement stratégique a entraîné l'élimination d'environ 100 millions de dollars de dettes et de créances liées aux activités de Solis et devrait améliorer les capitaux propres des actionnaires d'environ 45 millions de dollars.
La vente s'inscrit dans le cadre des efforts continus d'Alternus pour réduire sa dette et renforcer son bilan alors qu'il se repositionne d'un focus exclusif sur l'énergie solaire à grande échelle vers un fournisseur d'énergie plus complet. Le PDG Vincent Browne a souligné l'annonce récente d'une coentreprise avec Hover Energy pour fournir des micro-réseaux d'énergie propre comme un exemple d'entrée dans des segments complémentaires à forte valeur ajoutée.
Alternus est également en discussion avancée pour acquérir des capacités de stockage de batteries et vise d'autres coentreprises et investissements dans d'autres segments énergétiques pour soutenir sa stratégie de croissance plus large en matière de fourniture d'énergie.
Alternus Clean Energy, Inc. (NASDAQ: ALCE) hat den Verkauf ihrer Tochtergesellschaft Solis Bond Company DAC sowie ihrer rumänischen Tochtergesellschaften an Solis Trustee Special Vehicle für €1,00 bekannt gegeben. Dieser strategische Schritt führte zur Eliminierung von etwa 100 Millionen Dollar an Schulden und Verbindlichkeiten, die mit den Aktivitäten von Solis verbunden sind, und wird voraussichtlich das Eigenkapital der Aktionäre um etwa 45 Millionen Dollar verbessern.
Der Verkauf steht im Einklang mit den fortlaufenden Bemühungen von Alternus, die Schulden zu reduzieren und die Bilanz zu stärken, während das Unternehmen sich von einem exklusiven Fokus auf Solarenergie im Versorgungsmaßstab hin zu einem umfassenderen Energiedienstleister repositioniert. CEO Vincent Browne hob die kürzliche Ankündigung eines Joint Ventures mit Hover Energy hervor, um saubere Energienetzwerke zu liefern, als Beispiel für den Eintritt in wertvolle ergänzende Segmente.
Alternus befindet sich auch in fortgeschrittenen Gesprächen zur Übernahme von Batteriespeicherkapazitäten und zielt auf weitere Joint Ventures und Investitionen in anderen Energiesegmenten ab, um seine umfassendere Wachstumsstrategie zur Energieversorgung zu unterstützen.
- Removal of approximately $100 million in debt and payables
- Improvement in shareholders equity by approximately $45 million
- Strategic repositioning towards becoming a comprehensive energy provider
- Ongoing efforts to reduce debt and strengthen balance sheet
- Recent joint venture with Hover Energy for clean energy microgrids
- Advanced discussions for acquiring battery storage capabilities
- Loss of 98% of group revenues from Solis activities for the six months ended June 30, 2024
- Sale of Solis Bond Company DAC and Romanian subsidiaries for only €1.00
Insights
The sale of Solis Bond Company DAC marks a significant financial restructuring for Alternus Clean Energy. By shedding
However, this move comes with considerable trade-offs. Solis accounted for
The company's pivot towards microgrids and potential expansion into battery storage indicates a strategic realignment. While diversification can mitigate risks, it also requires new expertise and capital investment. Investors should closely monitor Alternus's ability to generate revenue and achieve profitability in these new ventures, as the company's financial stability will heavily depend on the success of this transition.
Alternus's strategic pivot from utility-scale solar to a more diverse energy portfolio reflects broader industry trends. The move into microgrids, particularly through the joint venture with Hover Energy, positions the company in a growing market segment. Microgrids offer resilience and efficiency benefits that are increasingly valued in the face of grid instability and climate change.
The potential acquisition of battery storage capabilities is another strategic move. Energy storage is important for managing intermittent renewable sources and providing grid services, representing a high-growth sector within clean energy.
However, this transition is not without challenges. Alternus is entering competitive markets where established players already have significant footholds. The company will need to demonstrate a clear competitive advantage or innovative approach to capture market share. Additionally, the loss of its Romanian assets means Alternus must rebuild its operational base, which could lead to a period of financial instability as it establishes new revenue streams.
Fort Mill, South Carolina--(Newsfile Corp. - October 8, 2024) - Alternus Clean Energy, Inc. (NASDAQ: ALCE) ("Alternus"), announces that on October 3, 2024, by mutual agreement and in furtherance of the Company's balance sheet improvement activities, Solis Bond Company DAC ("Solis"), a company formed under the laws of Ireland and an indirect wholly owned subsidiary of the Company, was sold, along with its subsidiaries in Romania, to Solis Trustee Special Vehicle Limited, the Solis Bondholders' ownership vehicle, for one Euro (€1.00) in accordance with the terms of the Solis Bonds, as amended.
As a result of the sale, Alternus has removed approximately
Vincent Browne, Chief Executive Officer of Alternus, stated: "The sale of Solis aligns with our on-going activities to significantly reduce debt and strengthen our balance sheet as we reposition the business from an exclusive focus on utility scale solar to that of a more comprehensive energy provider going forward. Our recent announcement of binding terms to establish a joint venture with Hover Energy to deliver state-of-the-art clean energy microgrids, is the first such example of entering additional exciting high-value complementary segments to our existing utility activities."
"We are also at advanced discussions in acquiring battery storage capabilities and customer base to strengthen both our utility and microgrid businesses and are targeting additional joint ventures and investments in other energy segments that are accretive to the group both operationally and financially in the short and long term and supporting our wider energy provision growth strategy."
About Alternus Clean Energy Inc.
Alternus is a transatlantic clean energy independent power producer. Headquartered in the United States, we currently develop, install, own, and operate utility scale solar parks in North America and Europe. Our highly motivated and dynamic team at Alternus have achieved rapid growth in recent years. Building on this, our goal is to reach 3GW of operating projects within five years through continued organic development activities and targeted strategic opportunities. Our vision is to become a leading provider of 24/7 clean energy delivering a sustainable future of renewable power with people and planet in harmony.
Forward-Looking Statements
Certain information contained in this release, including any information on the Company's plans or future financial or operating performance and other statements that express the Company's management's expectations or estimates of future performance, constitute forward-looking statements. When used in this notice, words such as "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "might," "plan," "possible," "potential," "predict," "project," "should," "would" and similar expressions, as they relate to us or our management team, identify forward-looking statements. Such forward-looking statements are based on the beliefs of management, as well as assumptions made by, and information currently available to, the Company's management. Such statements are based on a number of estimates and assumptions that are subject to significant business, economic and competitive uncertainties, many of which are beyond the control of the Company. The Company cautions that such forward-looking statements involve known and unknown risks and other factors that may cause the actual financial results, performance or achievements of the Company to differ materially from the Company's estimated future results, performance or achievements expressed or implied by the forward-looking statements. These statements should not be relied upon as representing Alternus' assessments of any date after the date of this release. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.
Media Contact: IR@alternusenergy.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/225974
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