Economy and Finance – Altea signs co-development agreement with Air Solar for storage systems

Economy and Finance - Altea signs co-development agreement with Air Solar for storage systems

(Teleborsa) – Altea Green PowerA company listed on Euronext Growth Milan and active in the development and construction of plants for the production of renewable energy also signed. Co-development agreement for storage systems “Storage” of electricity works according to the needs of the national electricity grid Irish company Air Solaire (affiliated with US 547 Energy Fund, which serves as Quantum Energy Partner’s investment platform). The total power capacity of the project is 510 MW.

The contract stipulates 4 Construction of plants: three in Puglia, one in Piedmont. The sites already available to Altea Green Power were sold to Aer Soléir, together with the development work already carried out. The sale was valued at approximately €5.5 million and is expected to be collected shortly after closing. Aer Soléir will be represented by Altea Formalities required to complete the approval processTo be completed discreetly within 3/4 years. For this additional activity, work progress will be paid at an estimated amount of approximately seven times the initial sales value.

The contract is a “Project EBITDA“According to Altea Green Power’s EBITDA, equal to 35% as of December 31, 2021, a significant positive contribution of approximately 5.5 million euros to the net financial position in 2022. At a consolidated level, the agreement will create Capital gain About €0.8 million.

“I am certainly satisfied with this important co-development agreement, which will allow us to develop a significant overall strength – commented.AD Giovanni De Pascale – Working with a leading Irish giant in the development of alternative energy and storage systems will give a significant boost to our economic growth, but also in terms of knowledge. Finally, TheMajor side of the project This allows us to view our financial performance with confidence.

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