Alternus Energy takes majority holding in Unisun Energy

Solar farm in Rilland, the Netherlands. Image by Unisun Energy.

June 7 (Renewables Now) - Ireland-based independent power producer Alternus Energy Group Plc (NOTC:ALT) has bought a 60% stake in Dutch developer Unisun Energy Holding B.V. for about EUR 800,000 (USD 973,315) in total.

The purchase of the stake in the target, which offers engineering, procurement and construction, and operations and maintenance services, turns Alternus into a fully vertically integrated solar power producer.

The deal also provides Alternus with access to a portfolio of developing solar projects with a combined capacity of more than 250 MW across the Netherlands.

The total consideration paid by Alternus included EUR 650,000 in cash and about EUR 150,000 in stock, or 50,000 newly issued shares. Unisun's CEO Andre Kempenaars and COO Leon Heijkoop will keep the remaining 40% in the company.

(EUR 1.0 = USD 1.217)

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Before joining Renewables Now, Alex was a UK-focused business news reporter. Now she is covering global news from the renewable energy industry with a special interest in M&A.

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