Jun. 13 at 8:35 PM
Alternus Clean Energy (OTCQB:
$ALCE) announced its full-year 2024 financial results, highlighting substantial balance sheet restructuring that eliminated
$207 million of liabilities while building a pipeline exceeding 75 MW of clean energy projects in development.
Alternus Clean Energy, Inc. is a B2i Digital Featured Company. View their comprehensive B2i Digital Featured Company Profile at https://b2idigital.com/alternus-clean-energy
Among the highlights noted in the company’s release were:
- Restructured balance sheet
- Improved shareholders’ equity position by approximately
$30 million, reducing shareholders’ deficit by 46% year-on-year
- Reported net income of approximately
$21 million, including a net gain of roughly
$46 million on the sale of discontinued operations
- The current project portfolio includes a pipeline exceeding 75 MW with the potential to generate recurring revenue and cash flow
CEO Vincent Browne noted, “While 2024 had challenges, we adapted and made substantial cost cuts, while enhancing our strategy. These actions are reflected in our improved balance sheet, with nearly 85% of liabilities eliminated and a 23.3% reduction in loss from continuing operations. We also significantly improved our capital position and continued debt and operating cost reductions into 2025.” Browne added, “Through our Hover Energy partnership, we are expanding our offerings to include combined rooftop wind, solar, storage, and advanced energy management technologies. This integrated approach positions us well in the decentralized energy landscape where the grid becomes backup power.”
For the complete press release, visit https://alternusce.com/alternus-reports-full-year-2024-financial-results-and-business-update-eliminates-approximately-208-million-of-liabilities/
Alternus Clean Energy Inc. is a transatlantic clean energy independent power producer (IPP) that generates electricity through various sources for sale to utilities or end users. The Company is led by a dedicated management team, including Chairman & CEO Vincent Browne, Chief of Staff Michelle O'Shea, CIO Larry Farrell, Chief Legal Officer Taliesin Durant, Chief Commercial Officer David F., CTO Gary Swan, and Cal Collier, who leads global marketing efforts.
To learn more about Alternus Clean Energy and its sustainable energy initiatives, visit https://alternusce.com and B2i Digital for updates on Alternus and our other Featured Companies (https://b2idigital.com/featured-companies).
DISCLOSURE: The management of B2i Digital owns restricted shares of ALCE stock as of June 13, 2025. This post is not intended to solicit the sale of ALCE or any security, and it is not intended to offer any opinion on ALCE as an investment. Conduct your own research and consult with your own professional advisors prior to making any investment decisions. See the full disclaimer in the Risks and Disclosures section of https://b2idigital.com/alternus-clean-energy.