The world is currently undergoing a crucial and essential revolution in renewable energy and Alternus Energy’s core goal is to be part of this revolution in supporting the transition from a fossil fuel-based economy to a sustainable, renewables-based economy. The company aspires to be a conscientious driver in the green energy transition. The company’s solar PV parks produce clean green energy and replace polluting, greenhouse gas emitting, fossil fuel based energy. Europe is a leader in renewables and the solar industry is one of the fastest growing in the world. Alternus Energy intends to take full advantage and play its part in the transition to the green economy.
Alternus Energy’s mission is to become a leading pan-European independent power producer (IPP). As part of its core goal the company is committed to growing its portfolio of clean energy solar PV parks across Europe with a target to own and operate at least 3.5 GW of solar PV parks by 2025. At this level, Alternus Energy will help to avoid approximately 3.5 million tons of CO2 equivalent emissions annually equating to the carbon sequestered from 58 million trees seedlings grown over 10 years or the removal of 760,000 fossil fuel-based passenger vehicles off the road. The company intends to achieve this through responsible acquisition of solar PV parks across multiple countries, thus maximizing macro-environmental factors that support the long-term growth of solar PV and renewable energy and cater for the ever-growing need for clean energy. The company’s strategy allows it to enhance return on investment opportunity and maximize shareholder values while also ensuring alignment with its core goal of supporting the ongoing green energy transition.
Solar Energy is a limitless renewable source of energy that does not emit any harmful CO2 emissions when producing electricity. Photovoltaic module technology harnesses the power of the sun to covert light into DC electricity through an environmental and sustainable process.
“The sun delivers more energy to earth in an hour than is used worldwide in a year. We can harness this energy by using solar technologies” (SEAI.ie)
- 70 MWp installed solar PV capacity with an aggregate production capacity of 85 GWh annually
- Currently geographically diversified across four European jurisdictions, with significant political and environmental support
- All assets connect directly to the national power grids on long term government-backed Feed-in-Tariff (FiT) or Power Purchase Agreements (PPA) with Investment grade counterparties
- In December 2018, the newly revised Renewables energy directive (2018/2001) entered into force – establishing a new binding renewable energy target for the EU for 2030 of at least 32%, with a clause for a possible upwards revision by 2023
The Netherlands hosts Alternus Energy’s largest ground mounted solar PV plant with an installed capacity of 11.75 MWp – Zonnepark Rilland. The park is located in Kreekrakweg, Rilland and was connected in 2019 under a 25-year land lease with an SDE+ subsidy 15-year contract. The park produces on average 12.5 GWh annually. The Netherlands established the SDE+ regulation (Stimulation of Sustainable Energy Production) in 2011. The SDE+ is a government program and provides both guarantees and risk reductions to renewable energy developers via subsidies through a tendering scheme. The policy aims to generate as much renewable energy for the lowest costs possible, thereby providing the necessary incentives to ensure the country meets its renewable energy target and European Union (EU) Directives.
In Germany Alternus Energy’s presence comprises of 10 wholly owned assets of rooftop solar PV parks with 5.2 MWp of installed capacity supported by a 20-year FiT under the Renewable Energy sources Act 2017 (“EEG 2017”). The EEG 2017 provides a stable regulatory framework and the basis for a new growth phase in Germany. It sets out the structure for competition-based funding for renewable energy in Germany. It stipulates an annual target of 1.9 GW of solar PV to be added to the grid under the new legislation introduced in December 2018 (Energiesammelgesetz). It had set out an overall target of 52 GW for solar PV installations which were guaranteed a FiT, at which point the FiT support was capped. However, in 2019 the 52 GW cap was removed and in 2020 the EEG was being amended so that the new regulations of the law can come into force in 2021, namely the EEG 2021. The main objective of the new EEG 2021 is to increase the share of renewable energies in Germany from approximately 50% up to 65% by 2030, including a doubling of the solar capacity installed to date from 52 GW up to 100 GW by 2030.
Alternus Energy owns and operates five solar PV ground mounted parks in Romania, with a cumulative total installed capacity of 41.5 MWp. These parks were commissioned in 2012 under the Green Certificate Scheme with ANRE (The National Energy Regulatory Authority Romania). Romania is well placed in Europe to take advantage of solar energy. In the South of Romania, the yearly solar radiation is 1,450 – 1,750 kWh/m2, making it very attractive for solar PV installations. Romania had a cumulative installed capacity of 1.39 GW as of 1st January 2020. The regulatory framework for renewably sourced energy is set out in the Law 220/2008. Under modifications of this law Romania has set a national target of 24% of its energy to come from renewable energy sources. ANRE qualifies the renewable energy installations by applying the Green Certificate (GCs) promotion system and furthermore elaborates the regulatory guidelines in the monitoring of production, costs and revenues of renewable energy providers by mean of GCs. The objective of the GC model is to provide a guaranteed and adequate revenue stream during the investment run for a pre-defined time period of 15 years. In 2017 the country met its 2020 renewable energy targets reaching a 24% energy share coming from renewables.
Alternus Energy owns and operates a mixture of ground mounted and rooftop solar PV parks in Italy, with a total installed capacity of 11 MWp. These parks are supported by a government backed 20-year FiT. Italian regulation on support for energy produced from solar PV was set out in the “Conto Energia” under legislative decree 387 in 2003. From 2003 to 2012, there were four more iterations of this law which stipulated the conditions under which solar PV could be supported via a FiT subsidy. Under the original regulation a FiT was guaranteed for 20 years, which was a flat nominal fee depending on a number of variables. However the targets set out in the legislation were met earlier than expected and had to be revised as described below under law decree No. 91. In addition to the FiT, operators can also receive income for the energy produced by their park from energy sold on the spot market or via a PPA. The Conto Energia was finalized in July 2013 for new installations. Italy was one of a handful of countries in the EU to meet its 2020 targets for renewable energy use early in 2017. The country has experienced exponential progress and growth, particularly in the solar PV market, notably through the development and implementation of a comprehensive long-term energy strategy. This National Energy Strategy has been a significant leap in achieving the governments environmental ambitions.