Alternus Clean Energy signs deal to acquire 80.7 MWp US solar portfolio for ~$60M

Alternus Clean Energy, Inc.

Acquisition of Taiyo Holding LLC for gross $60.2M; net ~$15M after debt assumption.
Portfolio of 33 projects across 8 states with average 12+ year PPA tail, 20% AAA/AA rated off-takers.
Expected to generate $6.7M annual revenue and $5.1M operating income, immediately EBITDA accretive.
Target closing by end of Q2 2024; subject to debt restructuring and lender consent.
Would nearly triple Alternus's operational portfolio to over 120 MWp.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Alternus Clean Energy, Inc. entered into Membership Interest Purchase and Sale Agreement with C2 Taiyo Fund I, LP valued at approximately $15 million (effective 2024-04-30).

Action: entry
Agreement: asset purchase
Counterparty: C2 Taiyo Fund I, LP
Value: approximately $15 million
Effective: 2024-04-30

Exact text from the filing

On April 30, 2024, ALT US 01 LLC (“ ALT ”), a company incorporated under the laws of Delaware and indirect wholly owned subsidiary of Alternus Clean Energy, Inc. (the “ Company ”) entered into a Membership Interest Purchase and Sale Agreement (the “ MIPA ”) by and among ALT and C2 Taiyo Fund I, LP, a Delaware limited partnership (“ C2 ”).

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Source: SEC EDGAR

accession 0001213900-24-038144

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