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Alternus Clean Energy, Acadia Energy have concluded a joint development agreement

Acadia Energy has entered into a co-development agreement with Alternus Clean Energy to co-develop a 200-megawatt microgrid in upstate New York. The partnership combines Alternus’ deep expertise in renewable energy development with Acadia’s unique business model and pipeline of projects in the region. Acadia has created an innovative energy use model to create microgrids. This new model creates local, beneficial partnerships with municipal entities to deploy microgrids as hubs for sustainable development. The Sustainability Center acts as a local community economic development engine that attracts new businesses by offering low-cost renewable energy, while also providing much-needed energy discounts to local residents, as well as current and future businesses, an energy plan for all involved and a win-win scenario! The model focuses on the core value proposition of enabling a local community to control the energy produced within it, rather than sacrificing property resources to other remote locations or other regions. The first phase of the 200-MW projects, which will provide approximately $300 million in contract revenues, is in the pre-development phase where plot, energy and interconnection assessments have been analyzed, with both companies equally sharing project costs, financing and capital requirements . Acadia is also in talks with various New York State regulatory agencies regarding microgrid deployment.