Alternus Energy PLC (EURONEXT:ALT) has announced the appointment of Jon Masdal as an independent non-executive director with immediate effect, bringing the company's board to a total of six members.
The international renewable independent power producer said Masdal is an Oslo-based portfolio manager with the Ludvig Lorentzen family office and was a top-ranked analyst in the Nordic energy sector for Norway's leading Investment bank, DNB Markets, where he worked for 10 years.
A graduate of the University of New Mexico with a BBA in Finance and Accounting, he worked as an auditor at EY in Oslo before joining DNB.
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"Jon’s expertise in the local capital markets should prove a real asset to Alternus as we continue our growth and will further assist us with local and international stakeholder engagement,” Alternus chairman and CEO Vincent Browne said in a statement.
“His background in the energy sector will allow him to immediately comprehend our powerful growth engine and provide the board with insights on industry trends and positioning. We very much look forward to working with him and utilizing his experience to inform our business strategy,” he added.
Alternus Energy is a fast-growing international independent power producer (IPP), headquartered in Ireland, with a focus on the mid-sized utility solar PV (photovoltaic) market. The company 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.
Commenting on his appointment, Masdal said: “I believe this is a very fitting time for me to join the board of Alternus Energy. Their mission to support a clean energy future is one that I feel very passionately about and serves to benefit all stakeholders. The need for investment in clean energy has never been more critical. I look forward to lending my experience across the energy sector and capital markets to support the company’s continued growth.”
Alternus Energy started with two parks and 6 MWp capacity in 2016 and currently has a portfolio of 39 owned or contracted parks in Germany, Italy, Netherlands, Romania and Poland in excess of 150 MWp capacity. The company aims to own and operate over 2 GWs of solar parks by the end of 2025.
Contact the author at jon.hopkins@proactiveinvestors.com