June 7 (Renewables Now) - Munich-based BayWa r.e. renewable energy GmbH will take care of the operations management of Alternus Energy Inc’s portfolio of (OTCMKTS:ALTN) solar projects in Germany, Italy, Romania and Netherlands.
The companies have signed a master operations and maintenance (O&M) agreement covering all of Alternus Energy’s photovoltaic (PV) assets, the latter announced on Thursday. Under the terms of the deal, BayWa will provide 24/7 monitoring, preventative maintenance and quality inspections at the specific sites.
Details about the projects and their capacities were not provided.
Independent power producer Alternus Energy owns solar power generation capacity in Germany, Italy and Romania and has in place contracts for additional projects in the Netherlands. In May, it completed the acquisition of 100% stakes in four out of five special purpose vehicles (SPVs) that own 5.1 MW of solar farms in Italy. It then said its installed PV capacity in Europe has increased to 29.1 MW.