--Alliance to offer differentiated 24x7 zero-carbon power to customers--
Alternus and Hover intend to differentiate their value proposition to customers by offering consistent delivery of dependable clean 24x7 power. By creating microgrids that integrate Alternus’ utility-scale solar projects with Hover’s 24x7 wind-powered generators, the combined systems will drastically reduce intermittency and minimize the expensive storage capacity needed to achieve full grid independence. With this alliance, commercial and industrial customers will receive reliable 24x7 zero-carbon power at a competitive cost.
Hover will lead development, engineering, construction and commissioning, after which the microgrids will be owned and operated by Alternus. The initial phase of the alliance targets 50 MW of projects that will provide rapid growth of high margin revenue streams over anticipated 15-year offtake contracts, with the first project scheduled to begin construction in 3Q’24.
Hover’s CEO,
About
Alternus is a transatlantic clean energy independent power producer. Headquartered in
About Hover Energy
Hover Energy designs, develops, and deploys its Wind-Powered Microgrids™ to efficiently harness the power of nature to generate power where it is consumed. Hover believes that while achieving net zero is a strong beginning, achieving global real zero is the ultimate goal. Learn more at www.hoverenergy.com.
Forward-Looking Statements
Certain information contained in this release, including any information on the Company’s plans or future financial or operating performance and other statements that express the Company’s management’s expectations or estimates of future performance, constitute forward-looking statements. When used in this notice, words such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “would” and similar expressions, as they relate to us or our management team, identify forward-looking statements. Such forward-looking statements are based on the beliefs of management, as well as assumptions made by, and information currently available to, the Company’s management. Such statements are based on a number of estimates and assumptions that are subject to significant business, economic and competitive uncertainties, many of which are beyond the control of the Company. The Company cautions that such forward-looking statements involve known and unknown risks and other factors that may cause the actual financial results, performance or achievements of the Company to differ materially from the Company’s estimated future results, performance or achievements expressed or implied by the forward-looking statements. These statements should not be relied upon as representing Alternus’ assessments of any date after the date of this release. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.
For More Information:
Investors:
Alternus Clean Energy
ir@alternusenergy.com
+1 (913) 815-1557
or
Media:
alternus@blueshirtgroup.com
+1 (323) 240-5796
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