Alternus Clean Energy Announced Construction Of 18MW Solar Project In Italy Starting Q2 2025; Expected To Generate $2M Annually, 80% EBITDA Margin; Completion By Mid-2026; Potential $7M Cash Proceeds Upon Sale; Full Portfolio Development By Q4 2025-Q1 2026

Author: Benzinga Newsdesk | January 08, 2025 09:36am

Upon completion, the 18MW project is expected to generate approximately $2 million annually in recurring revenues.

New York, New York--(Newsfile Corp. - January 8, 2025) - Alternus Clean Energy, Inc. (NASDAQ:ALCE) ("ALCE", "Alternus" or the "Company") a renewable energy company, today announced that construction on the first of its eleven solar projects in Italy is scheduled to commence in Q2 2025. This milestone solidifies Alternus' expansion into one of Europe's most promising solar energy markets. The project, expected to be completed by mid-2026, is expected to generate over $2 million in annual revenue, over its anticipated 30-year lifespan, with an estimated 80% EBITDA margin. In addition, if the Company elects to sell once the project is operational, it could realize $7 million in cash proceeds. The remaining portfolio is projected to achieve similar development status in Q4 of this year and Q1 of 2026.

The project recently achieved all of its relevant permitting and has successfully completed the first 60 days of a challenge period. Construction will commence in Q2 2025 following the mandatory waiting period. This progress underscores Alternus' ability to manage complex regulatory and operational processes efficiently.

Posted In: ALCE