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Alternus Clean Energy, Inc. (NASDAQ: ALCE) is a prominent international independent power producer specializing in clean energy. Headquartered in the United States, the company develops, installs, owns, and operates utility-scale solar photovoltaic power stations (PV parks) across North America and Europe. With a growing portfolio currently comprising approximately 8 operational parks totaling 44 MWp, Alternus is committed to expanding its capacity to 3GW of operating projects within five years.
Alternus leverages long-term government offtake contracts and Power Purchase Agreements (PPAs) with investment-grade off-takers to ensure stable revenue streams. The company also benefits from energy sales to local power grids. Recent strategic initiatives include the retirement of $10 million of debt, enabling the company to fund accelerated growth. This deleveraging was facilitated by issuing common stock to Greenlight Asset Management, a leading Nordic asset manager focused on sustainable investing.
In 2023, Alternus completed a significant business combination with Clean Earth Acquisitions Corp., resulting in its Nasdaq listing under the symbol “ALCE.” This move underscores the company's commitment to expanding its footprint in key high-potential markets across the US and Europe.
Strategic partnerships further bolster Alternus' growth. A notable alliance with Hover Energy aims to offer differentiated 24/7 zero-carbon power by integrating utility-scale solar projects with wind-powered microgrids, reducing intermittency and minimizing storage requirements. Additionally, a joint venture with Acadia Energy focuses on developing 200 MW of microgrid projects in New York State, aligning with local economic growth and sustainability goals.
Alternus continues to show strong financial performance with a 17.5% YoY increase in revenue and a 25% YoY rise in gross profit for 2023. The company’s vision is to become a leading provider of 24/7 clean energy, delivering a sustainable future of renewable power in harmony with people and the planet.
Alternus Clean Energy (NASDAQ: ALCE) has announced the closing of a $2.25 million private placement through an Unsecured 20% Original Issue Discount Promissory Note. The total offering size was $2.81 million, with the company receiving approximately $2.25 million in proceeds before expenses.
As part of the offering, institutional investors received 1,526,058 shares of ALCE common stock. The company will use the net proceeds for working capital and general corporate purposes. Alternus has committed to filing a registration statement for the resale of these shares.
The private placement, managed by Maxim Group as sole placement agent, was conducted under Section 4(a)(2) of the Securities Act and Regulation D, exempting it from registration requirements.
Alternus Clean Energy (NASDAQ: ALCE) has announced the pricing of a $2.25 million private placement with institutional investors. The offering consists of an Unsecured 20% Original Issue Discount Promissory Note, with expected proceeds of approximately $2.25 million before expenses.
The private placement includes the issuance of 1,526,058 shares of common stock to the purchasers. The company plans to use the net proceeds for working capital and general corporate purposes. The transaction is expected to close around January 23, 2025, subject to customary closing conditions.
Maxim Group is serving as the sole placement agent. The securities will be offered through a private placement exempt from registration requirements under Section 4(a)(2) of the Securities Act of 1933. The company has agreed to file a registration statement for the resale of the shares.
Alternus Clean Energy (NASDAQ: ALCE) has announced significant progress in its renewable energy initiatives, as highlighted by CEO Vincent Browne in a Proactiveinvestors.com interview. The company has secured full permitting for the first of 11 solar projects in Italy, with construction of the 18MW project set to begin mid-2025. The project is expected to power the Italian grid within 18 months and generate up to $25 million in annual cash flow over a 30-year period.
Browne emphasized Italy as a key market, citing its favorable permitting process that accelerates solar development. The company's growth strategy also encompasses U.S. expansion and joint ventures in wind and battery storage, reflecting its commitment to renewable energy innovation. Browne identified 2025 as a important year for growth, highlighting the company's strategic positioning to leverage emerging opportunities.
Alternus Clean Energy (NASDAQ: ALCE) has secured full permitting for the first of eleven solar projects in Italy, with construction scheduled to begin in Q2 2025. The 18MW project, expected to be completed by mid-2026, is projected to generate $2 million in annual revenue with an 80% EBITDA margin over its 30-year lifespan.
The project has completed its first 60-day challenge period, and the remaining portfolio is expected to achieve similar development status between Q4 2025 and Q1 2026. If sold after becoming operational, this initial project could generate $7 million in cash proceeds.
Once the entire Italian portfolio becomes operational, Alternus anticipates generating over $25 million in annual income. If the company decides to sell the complete portfolio, it could yield approximately $50 million in equity value.
Alternus Clean Energy (NASDAQ: ALCE) has completed the acquisition of LiiON, a US-based provider of advanced energy storage solutions, for $5 million through a mix of debt and equity. The deal includes a $2 million non-convertible loan note payable over three years and 250,000 shares of common stock at $12.00 per share. The acquisition immediately improves Alternus' shareholder equity by approximately $3 million.
The deal brings LiiON's customer contracts, service agreements, and partnerships, including major clients like Amazon, Walmart, and NASA. LiiON will exclusively license its intellectual property to Alternus. This acquisition is a strategic step in Alternus' transition to become a comprehensive energy provider, enhancing its market reach through advanced battery technologies and engineering capabilities.
Alternus Clean Energy (NASDAQ: ALCE) has signed binding terms to acquire LiiON, , a U.S. energy storage solutions provider, for $5 million through an asset purchase agreement. The deal includes $2 million in non-convertible loan notes and 250,000 shares of common stock at $12.00 per share. LiiON, founded in 2009, brings expertise in battery storage technology with notable clients including Amazon, NASA, and Walmart.
The acquisition will strengthen Alternus' renewable energy solutions capabilities, particularly in microgrids and Battery Energy Storage (BESS) division. The transaction is expected to improve Alternus shareholder equity by approximately $3 million and close by the end of fiscal year 2024.
Alternus Clean Energy (NASDAQ: ALCE) has completed the sale of certain SPVs to majority shareholder Alternus Energy Group Plc, removing approximately $30 million in debt and payables while improving shareholder equity by about $4 million. The company has now reduced total debt by approximately $130 million and improved shareholders' equity by over $50 million through recent divestments. ALCE is diversifying beyond utility solar into microgrids and battery storage, and has relocated its headquarters to New York, NY to be closer to financial partners.
Alternus Clean Energy (NASDAQ: ALCE) has completed its first tax equity transaction utilizing the investment tax credit (ITC) structure from the Inflation Reduction Act. The transaction involved a tax credit transfer of approximately $1.74 million of 2023 ITCs for the Omohundro and White's Creek Solar Projects in Tennessee. These installations supply energy for Metro Water Services' operations. The proceeds were used to cover transaction costs and reduce senior debt, improving the company's consolidated balance sheet position.
Alternus Clean Energy Inc. (NASDAQ: ALCE) has announced a 1-for-25 reverse stock split, effective October 11, 2024. This move aims to increase the stock price and regain compliance with Nasdaq's $1.00 minimum bid price requirement. The company's common stock will continue trading under the symbol 'ALCE' with a new CUSIP number. The reverse split will reduce outstanding shares from approximately 87,288,070 to 3,491,522.
CEO Vincent Browne stated that this restructuring, along with recent balance sheet de-leveraging, will increase access to capital for executing long-term growth strategies. These strategies include partnerships and acquisitions in high-growth renewable energy segments, complementing their existing utility-scale solar IPP business. The company recently announced binding terms for a joint venture with Hover Energy, , and is targeting additional ventures in other energy segments to enhance operational and financial performance.
Alternus Clean Energy, Inc. (NASDAQ: ALCE) has announced the sale of its subsidiary Solis Bond Company DAC and its Romanian subsidiaries to Solis Trustee Special Vehicle for €1.00. This strategic move has resulted in the removal of approximately $100 million in debt and payables related to Solis activities and is expected to improve shareholders equity by approximately $45 million.
The sale aligns with Alternus' ongoing efforts to reduce debt and strengthen its balance sheet as it repositions from an exclusive focus on utility-scale solar to a more comprehensive energy provider. CEO Vincent Browne highlighted the company's recent announcement of a joint venture with Hover Energy to deliver clean energy microgrids as an example of entering high-value complementary segments.
Alternus is also in advanced discussions to acquire battery storage capabilities and is targeting additional joint ventures and investments in other energy segments to support its wider energy provision growth strategy.
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