Revenues up 250% to EUR 5.2 million from same period last year

Pan-European independent power producer ("IPP"), Alternus Energy Group Plc
(OSE:ALT) (the "Company" or "Alternus") is pleased to share its financial
performance for the second quarter of this year. The financial report covers
activity up to 30th June 2021 and shows an increase in annual recurring revenue
resulting from the addition of a 20 MWp operational solar park. The Company also
acquired a majority interest in Netherlands-based Engineering Procurement and
Construction ("EPC") and Operations and Maintenance ("O&M") company, Unisun
Energy Holding B.V.
 
A summary of the key points from the report are: 
o	Revenues increased to EUR 5.2 million for the quarter, up from EUR 1.5 million
in Q2 2020.
o	EBITDA increased to EUR 2.0 million from the same quarter last year.
o	Net income of EUR 10.5 million for the quarter following EUR 11.7 million
bargain purchasse from assets acquired in the period.
o	Annual Recurring Revenues (ARR) increased by 308% to EUR 16.3 million 
o	75% project gross margins 
o	Owned Assets increased by 14 times to 423 MW
o	1.4 GW contracted acquisitions at June 30, 2021

"This was another solid quarter for the Company with all key metrics increasing
significantly. Most importantly this quarter started to show the positive income
impacts to the business from the recent acquisitions. Further to the EUR 110
million bond issuance and EUR 27 million equity raise in the first quarter, the
Company raised an additional EUR 6.9 million in equity this quarter through our
listing on the Euronext Growth Market - Oslo at the end of June. All funding is
concentrated on continuing to grow our asset base from the 1.4 gigawatts (GW) of
contracted assets we have in hand. I am also very pleased to confirm that we
finally look set to acquire the exciting 65MW polish park that is part of the
initial bond portfolio in September. On completion, this will bring us
operational in a new country and add approximately EUR 3.5 million to our annual
revenues bringing the total to just under EUR 20 million annually without
further acquisitions," said Vincent Browne, CEO, Alternus. 

With the acquisition of a majority stake in Unisun Energy Holding B.V., a
leading developer, EPC and O&M company in The Netherlands, Alternus became a
vertically integrated IPP with the capability to construct and maintain its own
solar parks going forward. It also strengthens the Company's relationships with
co-development partners as Unisun can support them in the design and engineering
of the parks to ensure best performance and sustainable construction at lower
costs. Unisun and its expert international team will support Alternus in
bringing the current 1.7 GW of owned and contracted projects across Europe into
operation by the end of 2023.

Speaking about the strong financial company position, Joseph Duey, CFO,
Alternus, said "We have increased the Company's annual recurring revenues to EUR
16.3 million, up from EUR 3.8 million from the same quarter last year and are
maintaining an average of 75% project gross margins. Our strengthened balance
sheet and proven financing capability is enabling us to accelerate our growth as
seen in the increased contract backlog. This continued strong financial
performance demonstrates our successful growth and underpins our business plan
to secure more than 3.5 GW of operational projects by 2025." 

The Half Yearly Financial report and Presentation is available on the OSE filing
and on the Alternus website at the following link:
https://alternusenergy.com/reports-presentations/

About Alternus Energy Plc
Alternus Energy Group (OSE: ALT) is a fast-growing pan-European vertically
integrated independent power producer ("IPP"), headquartered in Ireland, with a
focus on the midsized utility scale solar PV market. Alternus owns and operates
a diverse portfolio of utility scale solar PV parks that connect directly to
national power grids on long-term government contracts ("FiT") and/or Power
Purchase Agreements ("PPAs") with investment grade off-takers. Having started in
2016 with two parks and 6 MWp capacity, the current portfolio consists of 34
owned or contracted parks in Germany, Italy, Netherlands, Romania and Poland, in
excess of 150 MWp capacity. Alternus works closely with both local and
international specialist development partners that each provide a constant
pipeline of new projects for acquisition and construction by Alternus. Alternus
aims to own and operate over 3.5 GWs of solar parks by the end of 2025 and to
become one of the largest pan-European IPPs by the end of the decade.

Forward Looking Statements: Certain information contained in this letter,
including any information on the group's plans or future financial or operating
performance and other statements that express the group's management's
expectations or estimates of future performance, constitute forward-looking
statements (when used in this document, the words "anticipate", "believe",
"estimate" and "expect" and similar expressions, as they relate to the group or
its management, are intended to identify forward-looking statements). Such
statements are based on a number of estimates and assumptions that, while
considered reasonable by management at the time, are subject to significant
business, economic and competitive uncertainties. The group cautions that such
statements involve known and unknown risks, uncertainties and other factors that
may cause the actual financial results, performance or achievements of the group
to be materially different from the group's estimated future results,
performance or achievements expressed or implied by those forward-looking
statements.