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Alternus Clean Energy, Inc. - ALCE STOCK NEWS

Welcome to our dedicated page for Alternus Clean Energy news (Ticker: alce), a resource for investors and traders seeking the latest updates and insights on Alternus Clean Energy stock.

Alternus Clean Energy, Inc. (NASDAQ: ALCE) is a prominent international independent power producer specializing in clean energy. Headquartered in the United States, the company develops, installs, owns, and operates utility-scale solar photovoltaic power stations (PV parks) across North America and Europe. With a growing portfolio currently comprising approximately 8 operational parks totaling 44 MWp, Alternus is committed to expanding its capacity to 3GW of operating projects within five years.

Alternus leverages long-term government offtake contracts and Power Purchase Agreements (PPAs) with investment-grade off-takers to ensure stable revenue streams. The company also benefits from energy sales to local power grids. Recent strategic initiatives include the retirement of $10 million of debt, enabling the company to fund accelerated growth. This deleveraging was facilitated by issuing common stock to Greenlight Asset Management, a leading Nordic asset manager focused on sustainable investing.

In 2023, Alternus completed a significant business combination with Clean Earth Acquisitions Corp., resulting in its Nasdaq listing under the symbol “ALCE.” This move underscores the company's commitment to expanding its footprint in key high-potential markets across the US and Europe.

Strategic partnerships further bolster Alternus' growth. A notable alliance with Hover Energy aims to offer differentiated 24/7 zero-carbon power by integrating utility-scale solar projects with wind-powered microgrids, reducing intermittency and minimizing storage requirements. Additionally, a joint venture with Acadia Energy focuses on developing 200 MW of microgrid projects in New York State, aligning with local economic growth and sustainability goals.

Alternus continues to show strong financial performance with a 17.5% YoY increase in revenue and a 25% YoY rise in gross profit for 2023. The company’s vision is to become a leading provider of 24/7 clean energy, delivering a sustainable future of renewable power in harmony with people and the planet.

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Alternus Clean Energy (NASDAQ: ALCE), a leading utility-scale transatlantic, clean energy independent power producer (IPP), has partnered with B2i Digital to execute a comprehensive investor communication and education initiative. The collaboration aims to enhance shareholder communication, transparency, and sustained engagement. B2i Digital will leverage its expertise in targeted marketing to elevate awareness of Alternus' unique position in the renewable energy sector and its growth potential among the investment community. This initiative underscores Alternus' commitment to effective investor relations and education.

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Alternus Clean Energy, Inc. (NASDAQ: ALCE) plans to acquire over 80 MWp of operating solar PV projects across eight U.S. states. The portfolio includes 33 projects with long-term agreements, generating $6.7 million in revenue annually. The acquisition, valued at approximately $60 million, aims to triple the company's operational projects, enhancing financial performance and operational efficiencies. CEO Vincent Browne highlights the strategic shift towards the U.S. renewable market, following the successful Nasdaq listing. The transaction is subject to closing conditions.

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Alternus Clean Energy, Inc. announced the closing of a $2.16 million private placement of Convertible Notes and Warrants. The investment is in the form of a Senior Unsecured Original Issue 8% Discount Convertible Note, resulting in proceeds of approximately $2.0 million. The Note has a 12-month maturity and will be convertible into shares of common stock at $0.48 per share. The institutional investor also received a five and a half year warrant to purchase shares. Maxim Group acted as the exclusive placement agent for the private placement.
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Alternus Clean Energy, Inc. reported a 17.5% increase in revenue and a 25% increase in gross profit year-over-year for FY 2023. The company reduced debt by $77 million, produced 165 GWH of clean energy, and divested non-strategic assets in Poland and the Netherlands. Despite a net loss of $69.5 million due to one-time events, Alternus remains focused on reaching 3GW of operational assets within five years. The company also announced the acquisition of solar PV projects in the US and Spain, as well as a successful business combination with Clean Earth resulting in a Nasdaq listing under the ticker symbol 'ALCE'.
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Alternus Clean Energy (ALCE) and Acadia Energy announced a joint venture to develop 200MW of microgrid projects in New York, focusing on renewable energy and sustainability. The partnership aims to support local economic growth and clean energy transition.
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Alternus Clean Energy (ALCE) announces participation in upcoming industry events and investor conferences, showcasing management team availability for one-on-one meetings with institutional investors.
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Alternus Clean Energy (ALCE) successfully completes the Omohundro Solar Project in Tennessee, marking a significant milestone in their partnership with Metro Water Services. The project will provide clean, renewable energy to power Metro's operations, showcasing a commitment to sustainable energy solutions and environmental consciousness.
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Alternus Clean Energy (ALCE) has announced a strategic alliance with Hover Energy to offer 24x7 zero-carbon power to commercial and industrial customers. The alliance aims to integrate utility-scale solar projects with wind-powered generators to reduce intermittency and minimize expensive storage capacity. The initial phase targets 50 MW of projects, providing high margin revenue streams over 15-year offtake contracts, with the first project scheduled to begin construction in 3Q’24.
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Alternus Clean Energy Inc. (ALCE) will be participating in The Microcap Conference at Caesars Atlantic City Hotel & Casino. CEO Vincent Browne and Executive Director Aaron Ratner will be presenting on January 31 & February 1, 2024. Interested parties can register to attend and have one-on-one meetings with the management team.
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Alternus Clean Energy (ALCE) will be presenting at The Microcap Conference in Atlantic City on January 31 and February 1. CEO Vincent Browne and Executive Director Aaron Ratner will participate in panel discussions and host 1x1 investor meetings. Investors can register for the conference and schedule a meeting with management via the conference website.
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FAQ

What is the current stock price of Alternus Clean Energy (alce)?

The current stock price of Alternus Clean Energy (alce) is $1.09 as of December 9, 2024.

What is the market cap of Alternus Clean Energy (alce)?

The market cap of Alternus Clean Energy (alce) is approximately 4.5M.

What does Alternus Clean Energy, Inc. do?

Alternus Clean Energy develops, installs, owns, and operates utility-scale solar photovoltaic power stations in North America and Europe.

What are the recent achievements of Alternus Clean Energy?

Alternus recently retired $10 million of debt, announced a joint venture with Acadia Energy for 200 MW of microgrid projects, and completed a business combination with Clean Earth Acquisitions Corp.

What is the significance of Alternus' partnership with Hover Energy?

The partnership aims to offer 24/7 zero-carbon power by integrating Alternus' solar projects with Hover’s wind-powered microgrids, reducing intermittency and storage needs.

What is Alternus' financial outlook?

Alternus reported a 17.5% increase in revenue and a 25% rise in gross profit YoY for 2023. The company aims to reach 3GW of operating projects within five years.

How does Alternus Clean Energy ensure revenue stability?

The company secures long-term government offtake contracts and PPAs with investment-grade off-takers, along with energy sales to local power grids.

What is Alternus' growth strategy in the US market?

The company plans near-term acquisitions of both operating and ready-to-build projects as part of their strategy to achieve 3GW of operating projects over the next five years.

How does Alternus contribute to sustainability?

Alternus focuses on delivering 24/7 clean energy to reduce global CO2 emissions and foster a sustainable future.

What was the outcome of Alternus' business combination with Clean Earth Acquisitions Corp.?

The combination resulted in Alternus listing on Nasdaq, enhancing its ability to expand in key markets across the US and Europe.

What are Alternus' main operational regions?

Alternus operates in North America and Europe, with a focus on utility-scale solar parks.

Who are some of Alternus' notable partners?

Notable partners include Greenlight Asset Management and Hover Energy, both of whom contribute to Alternus' strategic growth and sustainability goals.

Alternus Clean Energy, Inc.

Nasdaq:ALCE

ALCE Rankings

ALCE Stock Data

4.46M
1.35M
2.03%
18.75%
Utilities - Renewable
Electric & Other Services Combined
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