Alternus Energy appoints CCO

Alternus Energy further strengthens executive team with appointment of Chief Commercial Officer

Dublin, 1 February 2022 International Renewable Independent Power Producer (IPP) Alternus Energy Group Plc (OSE: ALT) (the “Company” or “Alternus”) is pleased to announce the appointment of David Farrell to the newly created role of Chief Commercial Officer. Mr. Farrell will be integral to the preparations for delivery of the Company’s contracted solar PV installations this year.

Mr. Farrell joins the executive management team and will oversee all commercial and M&A activity for the Company in addition to leading the funding and investment activities in conjunction with our CFO and CEO. He has over 20 years of experience in both the capital markets and finance industry and joins the Company from advisory firm Grant Thornton where he was a Director of Corporate Finance. Some of his previous roles include Director of Mergers & Acquisitions at the investment bank, Duff & Phelps, Regional Head of Debt Structuring at the accountancy firm, FGS and various management roles in corporate, institutional and commercial banking, together with several advisory board roles. In these roles, Mr. Farrell acquired extensive experience on both sides of corporate, real estate, and infrastructure and renewable financings along with numerous M&A transactions.

Speaking about the latest appointment to the Executive team, Vincent Browne, Chairman and CEO said:

“I am delighted to welcome David to the executive team at Alternus to support our continued rapid international expansion. We have worked closely with him as a client in recent years and I have experienced first-hand his strong work ethic and commitment. David’s initial focus will be completing the ongoing debt processes for pending acquisitions of operational solar PV parks in addition to securing financing for our contracted installation portfolio.”

Mr. David Farrell added:

“I am very excited to join Alternus at this time, having had the pleasure of working with the team as an advisor over the past eighteen months.  I have been highly impressed with their strategic positioning and ability to execute their growth plans. The opportunity to exclusively focus on the renewable energy sector with Alternus is compelling. I firmly believe that Alternus is ideally positioned to continue to capitalise on this incredible commercial growth opportunity whilst delivering impactful change as markets transition from fossil fuels to renewable energy.” 

Mr Farrell has a Bachelor of Business (Economics and Finance) from the University of Limerick and is an Associate Chartered Management Accountant (ACMA, CGMA). He also holds diplomas in Corporate Finance, Corporate Restructuring, and Insolvency.

About Alternus Energy 

Established in 2016, Alternus Energy Group Plc is an international vertically integrated independent power producer (IPP). Headquartered in Ireland and listed on the Euronext Growth Market – Oslo, the Company develops, constructs, owns, and operates utility scale solar PV projects in multiple countries. The Company also has offices in Rotterdam and America.

Forward Looking Statements: Certain information contained in this letter, including any information on the Company’s plans or future financial or operating performance and other statements that express the Company’s management’s expectations or estimates of future performance, constitute forward-looking statements. When used in this press release, words such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “would” and similar expressions, as they relate to us or our management team, identify forward-looking statements.  Such forward-looking statements are based on the beliefs of management, as well as assumptions made by, and information currently available to, the Company’s management. Such statements are based on a number of estimates and assumptions that are subject to significant business, economic and competitive uncertainties, many of which are beyond the control of the Company. The Company cautions that such forward-looking statements involve known and unknown risks and other factors that may cause the actual financial results, performance or achievements of the Company could differ materially from the Company’s estimated future results, performance or achievements expressed or implied by the forward-looking statements. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.