Alternus Energy Inc (OTCMKTS:ALTN)

Alternus Energy Inc (OTCMKTS:ALTN)

Share Price
$ 0.13
0.035 (38.89 %)
Market Cap
$14.58 m
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Alternus Energy Inc

Alternus Energy Inc. develops, owns and operates Utility Scale Solar projects internationally that provide clean energy directly to national power grids under long term, government supported, fixed price contracts which last 20 years from construction. This provides very predictable and measurable income streams over the long term.
The Company currently has operational plants in Romania...

52-week High/Low: $0.17 / $0.02
Sector: Cleantech and Renewable Energy
Market Cap: $14.58 m
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Big Picture – A Deep Dive Examination of Alternus Energy Inc

Alternus Energy Inc Snapshot


We currently own and operate 1 x Solar PV Park in Italy with a total installed power capacity of 0.7MW with 7.5MW of Solar PV Parks across Italy under exclusivity contracts and ready to close by Q4 2018. The overall focus is to ramp up the acquisition of parks to 50MW in Italy in 2019. Our team members based in Italy have ample expertise in the Italian Solar PV Market.

We predominantly acquire projects from parties in the early stage of the project including early investors who have reached their investment horizon limits. We appoint top tier Global Advisors to carry out Due Diligence on all parks acquired and built. In the past we have used Orrick for the legal, Protos for technical and EY for financials. We create strategic partnerships with local in-country experienced companies/teams to carry out the operation and maintenance of all of our parks.


Our new growth focus area is the acquisition of Commercial Rooftop PV Solar Parks in Germany. We have partnered with local developers and EPC operators to develop and build a minimum of 200MW of commercial rooftop Solar PV Parks over the next 3 years with 10MW now complete. We will only acquire the plants when fully constructed and operational with senior debt financing already in place, and with usual EPC performance guarantees.

All of the plants will benefit from German government Feed-in-Tariff revenues guaranteed for 20 years from initial operating year. Such projects are automatically approved for the 20 year FIT incentives but also at a pre-determined FIT rate rather than an auction process.


PWCL Romania was founded in 2013 as a subsidiary of Power Clouds. PWCL Romania provides energy directly to end user energy consumers in the residential and business community. PWCL Romania developed, owns and operates 2 x Solar PV Parks in Nucet & Dambovita with a total installed power capacity of 6.1MW. PWCL Romania is responsible for the management and operation of the parks ensuring the highest level of service is provided to the end user. These parks are connected directly to the national electricity grid in Romania.

PWCL Romania provides competitive and sustainable offers combined with a quality service.

Vincent Browne
Chief Executive Officer and Chairman

Bringing a wealth of experience in both listed and private companies covering all aspects of finance and management, Vincent has an extensive background in finance and operations, including experience in merger & acquisitions, project finance and capital market transactions for both public and private companies. Since 2008, he has worked predominantly the US public markets as CEO/CFO of OTC listed companies and as a consultant to others involving M&A, spin outs, 10K and S1 SEC filings and corporate restructuring. From 2000 to 2005 founded numerous technology startups. He previously held the position of Head of Procurement with Esat Telecom Group, Ireland’s premier competitive telecom operator, quoted on NASDAQ. He holds a Bachelor of Commerce (Accounting) from University College Dublin and is also a contributor in commercialization of research and technology projects with the Technology and Enterprise Campus at Trinity College Dublin. Vincent joined the company in 2014 as CFO and became the CEO in September 2017 driving the company’s global expansion.

Joseph Duey
Chief Financial Officer

Joseph has over 20 years’ experience successfully developing, constructing and financing utility scale solar and wind generating assets.  His experience includes key operating management, finance and audit functions.  Prior to joining Alternus Energy, Joseph served as CFO of Green States Energy, Inc. (GSE), an independent power producer focused on developing, acquiring, owning and operating clean energy generation. He helped grow the company from zero assets to over $70M of assets and over $7M of annual long term contracted revenue in a 3 year period. He was the Controller for Power Partners a division of MasTec (MTZ). The Power Partners group installed over 3,500MW of wind assets in the United States as an electrical contractor over a 7 year period. Other positions have included various finance and operations roles with Fortune 500 manufacturing companies, including the SPX Corporation and the Goodrich Corporation. At Goodrich, at the time a $5B public company, he was the Manager of Consolidations Planning and Analysis which comprised over 40 consolidating entities in 17 countries. His early career experience was at Arthur Andersen, where he performed external, internal, and operational audits for Fortune 1000 Companies. He received an MBA from the University of Illinois and achieved CPA, CMA, CIA, and CFM designations.

Taliesin Durant
General Counse

Taliesin joined Alternus Energy Inc. as General Counsel in December 2018.  Taliesin has served in senior operating roles in a variety of corporate and public enterprises for almost twenty years, providing general corporate legal advice and services.  Most recently she was the President of Dart Business Services LLC, a company she founded in 2010. Dart provided consulting services to a few small public and private companies, similar to those provided by a general counsel or in-house counsel and corporate secretary.  Prior to founding Dart, she was Chief Legal Officer and Corporate Secretary of Flint Telecom Group, Inc. Prior to that, she spent 8 years at Semotus Solutions, Inc. as General Counsel and Corporate Secretary. At Semotus she was part of the team that took the company from its listing on the OTC Markets to Amex and then to Nasdaq. Taliesin graduated with a BA in Economics from Connecticut College and is a member of the California State Bar Association, having earned a Juris Doctor degree at Northwestern School of Law at Lewis and Clark College and completed her final year at Santa Clara University School of Law.

Gita Shah
Programme Manager – Project Acquisitions

Gita has over 7 years’ experience in supporting the delivery of public and private infrastructure projects in European markets. Previous to joining Alternus Energy Gita held the position of Development Executive in Irish Renewable Energy Start-up Stream Bioenergy. She was part of a team of 3 who put together successful IED Licence and Planning Applications for 2 x 3.8MW Anaerobic Digestion (AD) plants in Dublin and Cork and a smaller award winning AD plant in Ballymena, Northern Ireland. Previously she held the position of Senior Technician for 4 years within Waterman Boreham, a Transport Engineering Consultancy, working on delivering various Infrastructure projects for the public and private sectors in Ireland, one of the main clients being Tesco Ireland. She holds a BSc in Spatial Planning and Environmental Management from Dublin Institute of Technology and studied at the Innovation Academy in UCD. Gita joined Alternus Energy in 2017 as the EA to the Chief Executive Officer and is now the Programme Manager for Project Acquisitions.

Stefano Stavrogiannis
Italian Operations Manager

Stefano has over 15 years experience in consultancy activities. In 2003 he founded Deltasigma Ltd which specializes in Business Development and Strategy Consultation in the industrial fields of manufacturing, energy including oil and gas and renewables and infrastructures/buildings. Specifically, the company specializes in consultancy services for the growth and the development of Italian SME’s for the acquisition and construction of public infrastructure works in Greece. In 2010 the company entered the energy sector supporting its clients in the acquisition and construction of refineries, lines transmission and power plants powered with natural gas and renewables sources in Italy, Greece, Romania and Middle East. The company has supported the development of a number of renewables projects in the form of several biogas plant projects in Italy for Enerfin SPA. Stefano joined Alternus in 2016 as a Project Acquisition Consultant and is now the Italian Operations Manager responsible for all project operations in Italy.

John Thomas – Board Member

John Thomas is the Co-Founder and Managing Partner of Doonbeg Group, Inc., an advisory and merchant banking firm founded in February of 2013. He is an accomplished Senior Executive with core skill sets of leadership, strategic, and operational management in an international environment.  John has significant expertise in international trade and finance with proven success in the transportation, defense, and infrastructure industries with an emphasis in the emerging markets. John holds a B.S. in Business Administration from Manhattan College.

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Alternus Energy HQ
One World Trade Centre
Suite 8500
New York
NY 10007

Power Clouds S.r.l
218 Calea Floreasca

Power Clouds Italy
36  Fulvio Renella str

Power Clouds Europe B.V.
Prins Bernhardplein 200

+1 212 220 7434

[email protected]

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