Alternus Energy Signs Agreement with Leading Global Renewable Energy Provider, BayWa r.e.

6/6, 2:30 PM (Source: GlobeNewswire)


Master Operations and Maintenance Agreement to Cover All Alternus Energy Solar Projects in Germany, Italy, Romania and Netherlands

New York, NY, June 06, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Alternus Energy Inc. (OTC: ALTN) (the “Company” or “Alternus”), a global renewable energy company, signed a Master Operations and Maintenance (O&M) agreement with BayWa r.e. (“BayWa”). BayWa will provide 24/7 monitoring, preventative maintenance and quality inspections for all Alternus solar projects in Germany, Italy, Romania, and Netherlands.

BayWa r.e. (www.baywa-re.com) is a leading global renewable energy developer, service supplier, wholesaler and energy solutions provider. BayWa r.e has operations throughout Europe, North America and Asia-Pacific, and are strategically investing in new and emerging markets. Expertise, creativity and a knowledge base is built on the experience of successfully bringing over 2.5 GW of renewable energy projects online and managing more than 6 GW of renewable assets around the globe.  A subsidiary of BayWa AG, a EUR 16 billion business established for over 90 years.

Alternus Energy Chief Financial Officer, Joseph Duey, commented, “We are excited to work with BayWa. Partnering with a global firm like BayWa provides added protection and assurance that our solar parks are running at optimum output and well maintained for the future. As a long-term owner and operator of assets this is key to providing consistent revenue and EBITDA for the Company.” 

About Alternus Energy Inc.

Alternus Energy, Inc. is a global renewable energy company that owns and operates Utility Scale Solar parks internationally. Each solar park generates clean energy every day that is sold to national power grids under long term, government counterparty, fixed price contracts.  The Company currently has operational solar parks in Germany, Italy and Romania with contracts in place to add additional solar parks in the Netherlands. For further information please go to: www.AlternusEnergy.com

Forward-looking Statements 

This news release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “may,” "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," “potential” and similar statements. All statements other than statements of historical fact in this press release are forward-looking statements and involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. These forward-looking statements are based on management's current expectations, assumptions, estimates and projections about the Company and the industry in which the Company operates, but involve a number of unknown risks and uncertainties. Further information regarding these and other risks is included in the Company's filings with the OTC Markets. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and actual results may differ materially from the anticipated results. You are urged to consider these factors carefully in evaluating the forward-looking statements contained herein and are cautioned not to place undue reliance on such forward-looking statements, which are qualified in their entirety by these cautionary statements.

Contact:

p212-220-7434

investors@alternusenergy.com

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