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Altri's Greenvolt jointly with institutional investor presents binding offer for acquisition of Tilbury Green Power in Tilbury, UK

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Altri's Greenvolt jointly with institutional investor presents binding offer for acquisition of Tilbury Green Power in Tilbury, UK

May 20, 2021 - 03:55
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PORTO, Portugal, May 19, 2021 (Press Release) -ALTRI, SGPS, S.A. (“ALTRI”) hereby informs that its wholly-owned subsidiary GREENVOLT – ENERGIAS RENOVÁVEIS, S.A. (“GREENVOLT”) presented, jointly with an institutional investor, in the context of a competitive process, a binding offer for the acquisition of Tilbury Green Power Holdings Limited (“TGPH”), the owner of a fully operational renewable energy biomass power plant, with installed capacity of 42MW, which is located in the port of Tilbury, Essex, England.

The offer presented by GREENVOLT and an institutional investor has been considered the preferential bid and, consequently, a negotiation process has started with the aim of completing such acquisition.

The acquisition, if executed, may be subject to conditions precedent customary in transactions of this nature being met. Hence, at this stage there is no certainty as to the successful execution or completion of the aforementioned transaction.

The possible acquisition of TGPH is expected to constitute another firm step in the process of consolidating GREENVOLT as an excellence player, at international level, in the renewable energies market, thus fostering its growth strategy and the expansion of its business in the renewable energies sector at European scale.