Alternus Energy Inc. (OTCPK:ALTN) agreed to acquire Zonepark Rilland B.V. from Unisun Energy The Netherlands for €10.5 million on July 29, 2019. The purchase price includes the assumption of a third party senior bank financing in the amount of approximately €7.2 million for Zonepark Rilland B.V. and its 11.75 MW ground-mounted solar photovoltaic (PV) power plant in Rilland, the Netherlands. In addition to the purchase price, the seller will be entitled to receive an additional cash amount of up to a total of €0.5 million )in the form of an earn out based on net cash proceeds received by the PV park over and above a set annual power output of 10,865 MwH. The total consideration will be adjusted for working capital movements between April 30, 2019 and closing. The buyer funded €1.85 million (approximately $2.1 million) of the Purchase Price through the issuance of a €2.15 million bond (approximately $2.4 million) issued to an accredited investor, bearing interest at 8%, amortizing over 8 years and secured by collateral. The transaction is subjected to approval from board of directors of both the buyer and the seller, completion of due diligence, consent of the senior bank, as well as ALTN closing a separate third party financing of a minimum sum of $3.8 million (€3.39 million) on acceptable terms. As the park is already operational it will be immediately revenue and income accretive to Alternus Energy Inc on closing. Alternus Energy Inc. (OTCPK:ALTN) completed the acquisition of Zonepark Rilland B.V. from Unisun Energy The Netherlands on December 20, 2019.