Alternus Clean Energy Announces Termination of Membership Interest Purchase and Sale Agreement (MIPSA) for Solar Park Portfolio

Fort Mill, South Carolina–(Newsfile Corp. – September 19, 2024) – Alternus Clean Energy, Inc. (NASDAQ: ALCE) (“Alternus” or the “Company”), a leading transatlantic, independent utility-scale clean energy producer (IPP), has terminated its MIPSA agreement with C2 Taiyo Fund I, LLP to acquire approximately 80 MWp of solar assets in 8 U.S. states, originally announced on May 1, 2024, due to the seller’s failure to satisfy required closing conditions and material changes to the portfolio of assets to be acquired.

Alternus CEO Vincent Browne commented: “Unfortunately, we are unable to proceed with this transaction as planned. However, this is just one of a number of identified strategic acquisitions and business growth areas that Alternus is working on, including the recent announcement of a joint venture with Hover Energy and other projects under review and negotiation. We remain fully committed to the renewable energy market in the United States, whether through acquisitions of operating or construction-ready projects, and we look forward to sharing these as soon as possible.”

Complete details regarding the termination can be found in the company’s current Report on Form 8-K filed with the U.S. Securities and Exchange Commission (SEC) at www.sec.gov and on the company’s website at https://ir.alternusenergy.com/financials-filings/sec-filings.

About Alternus Clean Energy:
Alternus is a transatlantic independent clean energy producer. Headquartered in the United States, we currently develop, install, own and operate utility-scale solar parks in North America and Europe. Our highly motivated and dynamic team at Alternus has achieved rapid growth in recent years. Building on this, our goal is to reach 3 GW of operational projects within five years through continuous development activities and targeted strategic opportunities. Our vision is to be the leading 24/7 clean energy provider, delivering a sustainable renewable energy future with people and planet in harmony.

Forecast statements

Certain information contained in this release, including any information about the Company’s plans or future financial or operating results and other statements expressing the Company’s management’s expectations or estimates regarding future results, constitute forward-looking statements. In this release, words such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “could,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “could” and similar expressions, as they apply to us or our management team, identify forward-looking statements. Such forward-looking statements are based on management’s beliefs, as well as assumptions made by the Company’s management and information currently available to the Company’s management. Such statements are based on a number of estimates and assumptions that are subject to significant business, economic and competitive uncertainties, many of which are beyond the Company’s control. The Company cautions that such forward-looking statements involve known and unknown risks and other factors that may cause the actual financial results, performance or achievements of the Company to be materially different from any estimated future results, performance or achievements of the Company expressed or implied by the forward-looking statements. You should not rely on these statements as representing Alternus’s assessments as of any date after the date of this release. The Company undertakes no obligation to update these statements to reflect changes or corrections after the date of this release, except as required by law.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/223942