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Alternus Clean Energy and Acad...


Alternus Clean Energy and Acadia Energy partnered to develop 200 MW Microgrid Projects

Alternus Clean Energy Acadia Energy
The Silicon Review
09 April, 2024

Commercial operations for the joint venture projects are expected to commence within 2 years

Alternus Clean Energy, a prominent utility-scale transatlantic clean energy independent power producer (IPP), and Acadia Energy have forged a joint venture. Their alliance aims to co-develop 200 megawatts (MW) of Sustainability HubTM microgrid projects in New York State. Drawing on Alternus' extensive expertise in renewable energy development and operations, coupled with Acadia's proven track record and project pipeline in the region, the partnership is poised to concentrate on both developing and managing a variety of microgrid projects over the next 2–3 years. These Acadia microgrids are designed as scalable initiatives, integrating renewable energy and storage solutions to deliver environmentally friendly and resilient power. Aligned with IRA and CLCPA objectives, the projects seek to enhance local economic growth and sustainability endeavors. By providing clean, reliable, and cost-effective energy, they aim to foster economic development and job opportunities for communities and businesses across New York State.

In accordance with the conditions of the joint venture agreement, Alternus will own 51% of the projects, with Acadia heading development activities under Alternus' direction. Both companies will equally share project costs and equity requirements, each contributing 50% of the required financing. Acadia currently has a potential project pipeline of around 1.5-2.0 gigawatts of renewable energy projects in New York, with projects averaging between 20 and 50 MW each. Acadia is now in contact with several regulatory organizations for microgrid adoption.