Alternus Clean Energy Inc agreed to acquire 80 MWp of operating portfolio spanning across the U.S. from a U.S. based fund for approximately $60 million.

Alternus Clean Energy Inc (NasdaqCM:ALCE) agreed to acquire 80 MWp of operating portfolio spanning across the U.S. from a U.S. based fund for approximately $60 million on May 1, 2024. The total consideration is approximately $60 million including existing project debt. The Portfolio consists of 33 projects, distributed across eight states, showcasing a geographical diversification within the U.S. Alternus plans to fund the acquisition at the project level with the target for completion by the end of Q2 2024.

Closing of the acquisition is still subject to certain closing conditions, including but not limited to, restructuring and assumption of the existing debt. The Portfolio will be immediately revenue and earnings accretive generated by a diverse mix of revenue streams from quality long term offtake contracts.