Alternus Clean Energy Continues Deleveraging Program by Removing Additional $30 Million of Debt, Improving Shareholder Equity by Approximately $4 Million [Yahoo! Finance]
Alternus Clean Energy, Inc. - Class A (ALCE)
Company Research
Source: Yahoo! Finance
completed the sale of certain of its SPVs to Alternus Energy Group Plc. ("AEG") a majority shareholder of the Company. As a result, the Company has removed approximately $30 million in debt and payables from the consolidated financials and improved ALCE's shareholder equity by approximately $4 million. ALCE has now reduced total debt by approximately $130 million, with resultant improvement in shareholders' equity of over $50 million with recent divestments and discontinuation of non-core or no longer economic activities. The Company is moving to widen its business activities and revenue streams beyond an exclusive focus on utility solar, in high margin and equity return segments such as microgrids, battery storage and other clean energy operations. In addition, ALCE has relocated its headquarters from Ft. Mill, SC to 17 State Street, New York, NY to be closer to its financial partners and the investment community. Vincent Browne, Chief Executive Officer of Alternus, stated: "Th
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Sec Filings
- 12/20/24 - Form EFFECT
- 12/16/24 - Form S-1/A
- 12/12/24 - Form 8-K
- ALCE's page on the SEC website