Alternus Clean Energy Inc (NASDAQ:ALCE, OTC:ACLEW) announced that it has terminated its Membership Interest Purchase and Sales Agreement with C2 Taiyo Fund to acquire approximately 80 MWp solar installations across eight US states due to the seller’s failure to meet the required closing conditions and fundamental changes to the portfolio of assets planned to be acquired.
"It is unfortunate that we cannot continue with this transaction as planned. However, this is just one of many identified strategic acquisitions and business growth areas underway for Alternus, such as the recent joint venture announcement with Hover Energy and other projects in review and under negotiation,” Alternus CEO Vincent Browne said in a statement.
“We remain fully committed to the renewable energy market in the United States, whether via the acquisition of operating or ready-to-build projects and look forward to sharing these as soon as we can."
United States-based Alternus develops, installs, owns, and operates utility-scale solar parks in North America and Europe.