Alternus Clean Energy Streamlines Portfolio and Bolsters Finances

Alternus Clean Energy ( (ALCE) ) has provided an update.

Alternus Energy Group has significantly improved its financial position by offloading Solis Bond Company, along with its subsidiaries, to a bondholders’ trust for a mere €1, effectively shedding $100 million in debt and enhancing shareholder equity by about $45 million. This strategic move, which also saw the resignation of directors Vincent Browne and John McQuillan, follows a series of covenant waivers and bond extensions. The disposal, which eliminates a major revenue contributor, will be recorded as discontinued activities since Alternus no longer has business in Romania.

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