From GlobeNewswire: 2024-04-15 19:56:00

Utility-scale transatlantic clean energy company, Alternus Clean Energy, Inc. reported a 17.5% increase in revenue and a 25% increase in gross profit YoY. They announced a net loss of $69.5M due to one-time events but have reduced debt by $77 million. Strategic realignment and consolidation pave the way for growth in key markets. The Company is focused on reaching 3GW of operational assets within five years.

Alternus announced a planned expansion in Spain with the acquisition of 32MWp solar PV projects and acquired a 32MWp solar PV project in Tennessee, expected to start operating in Q1 2025. The Company divested non-core assets in Poland and the Netherlands to focus on strategic markets in Europe and the US. 100% offtake secured by long-term PPAs.

After a successful business combination with Clean Earth Acquisitions Corp., Alternus is now listed on Nasdaq under the ticker symbol “ALCE.” The Company’s financial performance for 2023 showed an increase in revenues, gross profit, but a decrease in EBITDA compared to 2022. Subsequent events include the close of sale in the Netherlands and a green bond covenant waiver.

Looking ahead, Alternus is focusing on sustainable growth through strategic development and targeted opportunities. The Company aims to become a leading provider of clean energy, with plans to reach 3GW of operating projects within five years. Forward-looking statements emphasize the Company’s commitment to a sustainable future and continued growth in the renewable energy sector.



Read more at GlobeNewswire:: Alternus Clean Energy, Inc. Reports FY 2023 Financial