Alternus Energy has launched a renewables development business, Altnua, which is targeting 5GW of operational capacity by 2030.
Altnua will focus on developing utility scale projects from the ground up working with landowners and local developers as well as corporate offtakers to achieve their net zero goals, in Europe and the US.
Bill Sadlier will lead Altnua as CEO.
“Establishing a specialist development business led by an experienced team is the next logical step for Alternus as we continue in our current growth path.
“As long-term owners of clean energy projects, we see tremendous value by stepping in earlier in the value chain.
“This allows us to reduce our overall capital expenditure and to optimise the long-term design and operation of the projects from inception, including the use of storage and other hybrid solutions,” said Vincent Browne, Group Chief Executive Officer and Chairman of Alternus.
Prior to establishing Altnua, Sadlier served as the CFO and Executive Director at BNRG and has overseen the development and financing of over 1GW of renewable capacity in Europe and North America since 2004 with businesses including NTR.
“Joining Alternus at this pivotal point, when demand for clean energy is greater than ever, will allow Altnua to respond to critical decarbonisation targets and contribute to future growth for the group.
“I am confident as part of Alternus, Altnua has the right foundation, resources, and expertise to create an industry leading development business.
“We have an ambitious vision for this business with a goal of adding over 5GW of organically developed operational parks to the Alternus portfolio by the end of the decade,” said Sadlier.