Alternus Clean Energy set to acquire over 80MWp of operating solar PV

Alternus Clean Energy announced the signing of definitive agreements with a U.S. based fund to acquire over 80 MWp of operating portfolio spanning across the U.S. The Portfolio consists of 33 projects, distributed across eight states, showcasing a geographical diversification within the U.S. The portfolio has significant long-term agreements with 16 different counterparties. Notably, approximately 20% of these fall within the AAA and AA rating categories, such as Duke Energy, enhancing the financial stability and predictability of revenue streams. The Portfolio is expected to generate an average of $6.7 million of revenue and $5.1 million of operating income annually and represents an outstanding opportunity to acquire established assets generating reliable cash flows backed by long-duration contracts. The total consideration is approximately $60 million including existing project debt. Alternus plans to fund the acquisition at the project level with the target for completion by the end of Q2 2024.