The two ground-mounted solar projects include a 9.4 MW solar park located in the municipality of Costestii din Vale in Dambovita county and a 6 MW solar park located in the municipality of Dumbrava in Prahova county. The 9.4 MW plant is operated by Ecosfer Energy SRL, and the 6 MW plant is operated by Lucas Est SRL. Both Ecosfer Energy and Lucas Est SRL are special purpose vehicles ( SPVs ) that have been set up for the purpose of managing the construction and operation of the solar plants and the production of electricity.
Alternus Energy expects to acquire the project-based SPVs associated with the 15.4 MW operating assets, which are owned by Luxemburg-domiciled Renesola New Energy S.A.R.L, ReneSola Power s subsidiary that holds the Company s projects in Romania. Alternus Energy s acquisition of those two projects will be funded by the proceeds from the senior secured green bond and equity that it has recently issued.