Alternus Clean Energy Forges Strategic Partnership with Hover Energy

Alternus Clean Energy, a leading utility-scale transatlantic clean energy independent power producer (IPP), announced a strategic partnership with Hover Energy, a Dallas-based company specializing in Wind Powered MicrogridTM systems.

Alternus and Hover aim to revolutionize their customer offerings by ensuring a consistent supply of reliable, clean power 24 hours a day, 7 days a week. Through the integration of Alternus’ large-scale solar projects with Hover’s wind-powered generators, the combined microgrid systems will significantly reduce intermittency issues and decrease the need for costly storage capacity, ultimately achieving grid independence. This collaboration will enable commercial and industrial clients to access dependable, zero-carbon power at competitive rates.

Hover will lead in the development, engineering, construction, and commissioning of the microgrids, following which Alternus will assume ownership and operation. The initial phase of the partnership focuses on deploying 50 MW of projects, generating substantial high-margin revenue through expected 15-year offtake contracts. Construction on the first project is slated to commence in the third quarter of 2024.

Speaking about the issue, Vincent Browne, CEO of Alternus Clean Energy, commented, “This alliance is promising, because it enables us to differentiate our C&I offering versus traditional solar-only competitors. Hover’s unique and proven wind technology enables each project to generate around the clock. The substantially reduced intermittency enables us to limit customer dependence on either expensive storage or the grid to fill the gaps. We believe customers will recognize the power of this innovative and proven solution, giving us both a strong competitive advantage. We look forward to driving rapid growth in North America with Hover and are excited that our first project together will start construction in a few short months.”

Hover’s CEO, Chris Griffin added, “Combining forces with Alternus can turbo-charge the growth trajectories of both partners. Our unique wind-driven generating technology and proprietary control systems differentiate the reliability and cost of traditional solar-based power, enhancing our ability to sign attractive PPAs, and deliver on them. Alternus is an established owner-operator with a great track record and access to capital. We are enthusiastic about joining forces with them to rapidly expand our market.”