Asset manager AVG invests USD 10m in solar power co Alternus

Solar power plant. Source: AVG Group Sarl

April 19 (Renewables Now) - Luxembourg-based and Nordics-focused asset manager AVG Group Sarl has invested NOK 80 million (USD 9.6m/EUR 8m) in solar plants operator Alternus Energy Group Plc.

Alternus is an independent power producer (IPP) that focuses on mid-sized solar power plants. The company launched operations in 2016 with 6 MWp of capacity and has since built a portfolio of 39 owned or contracted parks in Germany, Italy, Netherlands, Romania and Poland with a total exceeding 140 MWp. It is getting ready to acquire a further 1.2 GW of projects and has a goal of expanding to more than 2 GW of operational solar parks by the end of 2025.

AVG said in a statement that it intends to provide additional financial support to Alternus in the coming years and to help it obtain funds from governments in the Nordic region. Also, it will offer advice to a Norwegian subsidiary of Alternus.

(NOK 1.0 = USD 0.120/EUR 0.100)

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