JV with Acadia Energy to Develop 200 MW of Microgrid Projects
Alternus Clean Energy and Acadia Energy have announced a joint venture to co-develop 200 MW of Sustainability Hub™ microgrid projects in New York State. Acadia has a pipeline of 1.5-2.0 GW of renewable energy projects in New York, with an average size of 20-50 MW per project. The partnership aims to develop and operate a portfolio of scalable microgrid projects over the next two to three years, which are expected to begin achieving commercial operations within two years. These microgrids will combine renewable energy and storage, providing green and resilient power to support local economic growth and sustainability. Alternus will hold a majority ownership stake of 51% in the projects, while Acadia will lead the development efforts under Alternus’ oversight. Both companies will share project costs and equity requirements equally, with each party contributing 50% of the necessary financing. The projects align with the goals of the Infrastructure Investment and Jobs Act (IIJA) and the Climate Leadership and Community Protection Act (CLCPA) by offering clean, reliable, and affordable energy to communities and businesses in New York State.
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