Alternus Clean Energy Inc (NASDAQ:ALCE, OTC:ACLEW) has secured full permitting for the first of 11 planned solar projects in Italy, paving the way for construction to begin in the coming months.
Construction is scheduled to start in the second quarter of this year as a result, renewable energy firm Alternus announced on Wednesday.
Chief executive Vincent Browne commented: “2025 is off to a strong start with the achievement of this pivotal milestone in our Italian portfolio.”
Alternus noted approval marked its expansion into one of Europe’s most promising solar energy markets.
Once completed by 2026, the project was expected to generate $2 million in revenue annually with an estimated 80% adjusted earnings margin over a 30-year lifespan.
Remaining projects planned for Italy were expected to achieve similar development status between the fourth quarter on 2024 and early 2026, Alternus added.
“Once the entire portfolio becomes operational, we anticipate generating over $25 million of long-term positive income streams annually,” Browne said.
“Additionally, if we decide to sell the portfolio in its entirety it could yield approximately $50 million in equity value. This positions the company to optimize returns for shareholders effectively.”