Alternus Clean Energy has terminated its Membership Interest Purchase and Sales Agreement (MIPSA) with C2 Taiyo Fund I to acquire 80 MW in solar installations across eight U.S. states.
The company says the agreement, originally announced in May, was terminated due to the seller’s failure to meet the required closing conditions and fundamental changes in the portfolio of assets planned to be acquired.
“It is unfortunate that we cannot continue with this transaction as planned,” says Vincent Browne, Alternus CEO.
“However, this is just one of many identified strategic acquisitions and business growth areas underway for Alternus, such as the recent joint venture announcement with Hover Energy and other projects in review and under negotiation. We remain fully committed to the renewable energy market in the United States, whether via the acquisition of operating or ready-to-build projects and look forward to sharing these as soon as we can.”
Full details of the termination can be found in the Company’s Current Report on Form 8-K to be filed with the US Securities and Exchange Commission.
