Alternus Clean Energy announced in early August 2024 that it has entered into binding terms for a joint venture with Hover Energy, LLC. This partnership is set to deliver next-generation microgrid solutions, marking a strategic expansion for Alternus beyond its traditional utility-scale solar business.
The joint venture has already secured initial orders for four Wind-Powered Microgrid installations in Honolulu with Hawaii Construction and Development Consultants. These initial projects are expected to be valued in the range of $3 million to $4 million, depending on their final configuration.
The formalization of the joint venture is anticipated in October, and it boasts a project pipeline of nearly 60 megawatts. This initiative provides Alternus with near-term growth opportunities and projects that offer a shorter time to revenue compared to large utility-scale developments.
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