Alternus Clean Energy, Inc. announced on September 19, 2024, the termination of its Membership Interest Purchase and Sales Agreement (MIPSA) with C2 Taiyo Fund I, LLP. This agreement, originally announced on May 1, 2024, was for the acquisition of approximately 80 megawatts peak (MWp) of solar installations across eight U.S. states.
The termination was due to the seller's failure to meet the required closing conditions and fundamental changes in the portfolio of assets planned for acquisition. This decision impacts Alternus's immediate plans for expanding its utility-scale solar footprint in the United States.
CEO Vincent Browne stated that while this transaction could not proceed as planned, Alternus remains committed to the U.S. renewable energy market. The company continues to pursue other strategic acquisitions and business growth areas, including its recently announced joint venture with Hover Energy.
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