Join our community of traders FOR FREE!

  • Learn
  • Improve yourself
  • Get Rewards
Learn More

Alternus Clean Energy said this week it had entered a strategic alliance with Dallas-based Hover Energy – a leader in the development and deployment of Wind Powered Microgrid systems.

The two companies intend to differentiate their value proposition to clientele by offering consistent delivery of dependable clean 24×7 power.

With the establishment of microgrids that integrate Alternus’ utility-scale solar projects with Hover’s 24×7 wind-powered generators, the combined systems will substantially reduce intermittency and minimize the costly storage capacity required to achieve full grid independence.

Hover is to head development, engineering, construction and commissioning, after which the microgrids will be owned and operated by Alternus.

The initial phase of the alliance aims to achieve 50 MW of projects, Alternus said.

“This alliance is promising, because it enables us to differentiate our C&I offering versus traditional solar-only competitors. Hover’s unique and proven wind technology enables each project to generate around the clock. The substantially reduced intermittency enables us to limit customer dependence on either expensive storage or the grid to fill the gaps. We believe customers will recognize the power of this innovative and proven solution, giving us both a strong competitive advantage. We look forward to driving rapid growth in North America with Hover and are excited that our first project together will start construction in a few short months,” Vincent Browne, Chief Executive Officer of Alternus Clean Energy, said in a press release.

TradingPedia.com is a financial media specialized in providing daily news and education covering Forex, equities and commodities. Our academies for traders cover Forex, Price Action and Social Trading.

Related News

  • GBP/USD erases daily advances as UK annual inflation rate hits four-year lowsGBP/USD erases daily advances as UK annual inflation rate hits four-year lows The sterling erased earlier daily advances against the US dollar after data showed that the annual rate of inflation in the UK fell to a four-year low in November, relieving pressure on BoE to tighten monetary policy.Having reached a […]
  • Wells Fargo increases quarterly dividend to $0.40Wells Fargo increases quarterly dividend to $0.40 Wells Fargo & Company (NYSE: WFC) said on Tuesday that its Board of Directors had authorized a regular quarterly cash dividend of $0.40 per share of common stock.The latter represents an increase of 14.28% compared to the previous […]
  • Asian Equities Diverge as Oil Rebounds on U.S. Move Against Venezuelan TankersAsian Equities Diverge as Oil Rebounds on U.S. Move Against Venezuelan Tankers Key Moments Asian stock performance was mixed, with technology names in South Korea leading gains while Japan and Australia edged lower. Oil prices rose more than 1% after President Donald Trump ordered a blockade of all […]
  • Forex Market: GBP/JPY daily trading forecastForex Market: GBP/JPY daily trading forecast Yesterday’s trade saw GBP/JPY within the range of 193.90-195.03. The pair closed at 194.87, surging 0.28% on a daily basis and extending gains from Monday. The daily high has also been the highest level since August 6th, when the cross […]
  • USD/NOK confined in narrow range ahead of Fed verdictUSD/NOK confined in narrow range ahead of Fed verdict The USD/NOK currency pair was stuck within a narrow daily range on Tuesday ahead of the outcome of the Federal Reserve’s policy meeting.The Fed is widely expected to lower its federal funds rate target range by 25 basis points to […]
  • Chevron Commits $500 Million Investment in ArgentinaChevron Commits $500 Million Investment in Argentina Key moments *Chevron, a U.S.-based oil company, plans to invest over $500 million in the Trapial block within the Vaca Muerta shale basin in Argentina's western Neuquen province. *The investment announcement followed a meeting between […]