- Portfolio Includes 3 Projects, all reaching RTB in 2023
- First Project 'Dancing Horse' COD Scheduled for Q1 2025
Transatlantic renewable independent power producer ('IPP') Alternus Energy has expanded its project ownership in the U.S. by acquiring a 32 MWp solar PV project in Tennessee, USA, known as 'Dancing Horse'.
The project is the largest of a three-project portfolio known as 'Sunrise'. Dancing Horse is expected to start operating in Q1 2025 and should produce annual revenue of approx. $2.3 million when fully operational. 100% of offtake is already secured by 30-year power purchase agreements with two regional utilities.
Dancing Horse is expected to generate a stable and predictable income stream for decades, enabling Alternus to utilize flexible debt options that can maximize equity returns.
Alternus Chief Executive Officer Vincent Browne noted, 'Dancing Horse is a significant addition to our pipeline, the tip of the spear as we drive growth in the United States. Given our solid track record of execution, we believe we will connect this project on time in Q1 2025, thus further improving our revenue visibility.'
Source: Alternus Energy
