The Italian company Alerion Clean Power operated a capital increase of 34.65 million lei in the renewable energy company it controls in Romania.
The capital increase operated at Alerion Clean Power Ro was made in December 2023, according to a decision published in the Official Gazette. In practice, the company from Italy converted the loans granted to the Romanian subsidiary into capital.
“The share capital increase takes place through the conversion of certain, liquid and payable receivables in the amount of 7,000,000 euros, the equivalent of 34,650,000 lei, at the conventional exchange rate of 4.95 lei/euro, resulting from the loans granted to the company by the associate Alerion Clean Power S.P.A”, the decision states.
Alerion announced in 2021 that it will invest approximately 700 million euros in increasing the installed capacity especially in Italy, Romania and Spain. The company said then that it wanted to reach a total capacity of over 1.5 MW, of which 300 MW from photovoltaic projects. In the first nine months of 2023, Alerion Clean Power’s electricity production was 946 GWh.
Alerion have entered into a partnership with the businessman Emanuel Muntmark, nicknamed “the king of wind turbines in Romania” in the companies that develop renewable projects as early as 2021.
Alerion, one of the important developers in Italy, listed on the Milan Stock Exchange, has no no functional wind farm in Romania, according to its own data, it has in Italy, Spain and Bulgaria, but they have technical approvals for connection for several projects. Alerion has a 53 MW photovoltaic park under construction in Romania, and also projects of hundreds of MW.