Alternus Clean Energ, a US solar developer and power producer, has announced it will not proceed with the acquisition of an 80-MWp portfolio of solar parks located across eight US states. The decision follows the vendor, C2 Taiyo Fund I LLC, failing to meet certain closing conditions and experiencing “fundamental” changes in the portfolio.
CEO Vincent Browne expressed disappointment over the cancellation, stating, “It is unfortunate that we cannot continue with this transaction as planned. However, this is just one of many identified strategic acquisitions and business growth areas underway for Alternus.”
In May, Alternus had signed agreements to acquire the portfolio for approximately USD 60 million (EUR 53.7 million), which included assuming existing debt. The contracts covered 33 assets that had long-term power off-take agreements in place.
Alternus Clean Energy aims to achieve 3 GW of operating capacity within the next five years through a combination of organic development and acquisitions. Browne reaffirmed the company's commitment to the US renewable energy market, emphasizing plans to pursue operating or ready-to-build projects.
