ALTEN Renewable Energy

What ALTEN Renewable Energy does

ALTEN Renewable Energy is a privately held independent power producer (IPP) founded in 2006, headquartered in Amsterdam, and legally domiciled as Alten RE Developments Iberia, SA in Spain. The company specializes in utility-scale photovoltaic solar energy and operates across the full PV value chain: greenfield project identification and development, financial structuring and project finance negotiation, engineering and construction management, and long-term operation and maintenance (O&M) of operating power plants. Alten has commissioned more than 50 power plants representing over 1,500 MWp of rated capacity and US$2.4 billion of investment under management, with projects across Latin America (Mexico), Sub-Saharan Africa (Namibia, Kenya, Nigeria, Mozambique), and Southern Europe (Spain, Portugal, Italy). Regional operations are conducted through wholly-owned subsidiaries ALTEN Africa and ALTEN America.

The company's revenue model is built on long-term wholesale power purchase agreements (PPAs), typically 20-25 year take-or-pay contracts, with government-owned national utilities such as Kenya Power and Lighting Company, the Nigerian Bulk Electricity Trader, Electricidade de Mozambique, NamPower, and CFE-type entities in Mexico. Secondary revenue streams include EPC management services and O&M services with verifiable performance metrics. Alten pursues emerging-market tenders and competitive auctions as its primary go-to-market motion, often structuring projects as public-private partnerships (e.g., NamPower holds 19% of Hardap, EDM holds 15% of Niassa) and securing concessional debt from development finance institutions including the IFC, PIDG/EAIF, and Standard Bank. The company has recently expanded into battery energy storage systems (BESS) as a complementary product line, with a 750 MWp PV+BESS development partnership announced with TimeToAct Capital in September 2023, alongside a prior 2 GW development agreement with TPG-backed Matrix Renewables signed in 2021.

Name

ALTEN Renewable Energy

Legal name

Alten RE Developments Iberia, SA

Website

https://alten-energy.com

Company type

Private

Founded year

2006

Operating status

Operating

Headcount range

11–50 employees

Short description

ALTEN Renewable Energy is a privately held independent power producer founded in 2006 that develops, finances, constructs, and operates utility-scale photovoltaic solar plants across Latin America, Sub-Saharan Africa, and Southern Europe, selling electricity to government utilities under 20-25 year PPAs.

Ownership category

akta.pro rank

Product category

Independent Power Producer (Solar PV)

NAICS

Solar Electric Power Generation (221114), Electric Power Generation (22111)

SIC

Electric Services (4911)

akta.pro primary industry

Solar Project Development & IPP (Utility-Scale & Rooftop) (EUAMABAA)

akta.pro secondary industries

Renewable Energy Infrastructure (FSAAAKAG), Electrical Systems O&M (Substations, Transformers, Switchgear, Protection & Controls) (EUAMAGAH)

Keywords

• Photovoltaic power generation
• Utility-scale solar development
• Renewable energy project finance
• Solar plant operations maintenance
• Battery energy storage projects

Headquarters

HQ city

Amsterdam

HQ country

Netherlands

HQ region

Europe

Offices4 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Supply Chain, Infrastructure, Technology or R&D, Personnel, Operations, Marketing or Sales

Revenue model

1. Wholesale Energy Sales via PPAs: Long-term Power Purchase Agreements (PPAs) with national utilities and government-owned electricity companies, typically spanning 20-25 years. Energy output is sold at negotiated rates to the grid operator.
2. EPC and Development Services: Engineering, procurement, and construction management services for PV plants, including technical advisory, contractor selection, and grid connection agreements.
3. O&M Services: Operation and maintenance services for operating power plants, including technical, financial, legal and administrative management with verifiable performance metrics.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels6 records

Core offering

ALTEN Renewable Energy is an independent power producer (IPP) that develops, finances, builds, and operates utility-scale photovoltaic solar power plants. The company manages the full PV value chain, from greenfield project identification and permitting through EPC management, project finance, and long-term O&M services, with electricity sold to national utilities under 20-25 year power purchase agreements. The company has over 1,500 MWp of rated capacity across 50+ plants in Latin America, Sub-Saharan Africa, and Southern Europe, and is expanding into battery energy storage systems (BESS).

Product overview

ALTEN Renewable Energy is an Independent Power Producer (IPP) specializing in photovoltaic solar energy, operating as a single unified offering rather than a modular software platform. The company provides integrated solutions across the entire PV sector value chain through four core service modules: (1) Design and Development for greenfield projects, (2) Investment and Funding management, (3) Engineering and Construction Management, and (4) Operation and Maintenance (O&M) services. Recently, the company has expanded into Battery Energy Storage Systems (BESS) as a complementary add-on module. The portfolio consists of operating solar plants across Mexico, Namibia, Kenya, and Spain, alongside development-stage projects in Mexico, Nigeria, Mozambique, and other regions. Regional operations are managed through subsidiaries ALTEN America (Latin America) and ALTEN Africa (Sub-Saharan Africa).

Differentiator

Problem solved

Functional benefit

Brands

• ALTEN Africa: Subsidiary focused on solar photovoltaic project development and operation in Sub-Saharan Africa (Namibia, Kenya, Nigeria, Mozambique)
• ALTEN America

Products and services

• Photovoltaic Project Development Services Full-service greenfield photovoltaic project development including site identification and acquisition, local partner negotiations, permit acquisition, grid connection agreements, and PPA negotiations. Targeted at national utilities and government offtakers in emerging markets.
• Investment and Funding Services Design of financial structures, private capital management, and negotiation of project finance with financial institutions including multilateral lenders (IFC, PIDG/EAIF), development finance institutions, and commercial banks. Targeted at utility-scale PV project development.
• Engineering and Construction Management Best technology analysis, selection of contractors, and negotiation/management of EPC and O&M contracts for photovoltaic power plants. Targeted at utility-scale project owners and investors.
• Operation and Maintenance (O&M) Services Comprehensive O&M services for operating photovoltaic power plants including technical, financial, legal, and administrative management with verifiable performance metrics. Targeted at operating PV power plant owners and project SPVs.
• BESS (Battery Energy Storage Systems) Project Development Development of battery energy storage system projects to complement photovoltaic power plants, providing grid-scale energy storage solutions. Targeted at national utilities and grid operators.
• Kesses Solar Facility 44 MW (44 MWp) solar facility in Kesses, Uasin Gishu County, Kenya, generating electricity sold to Kenya Power and Lighting Company under a 20-year take-or-pay PPA. Commissioned in June 2023.
• Hardap PV Plant 45.5 MWp (37 MWac) photovoltaic plant in Mariental, Hardap region, Namibia. Largest solar plant in Namibia and Sub-Saharan Africa (excluding South Africa), operational since November 2018 under a PPP with NamPower.
• El Casar Solar Plant 13 MWp solar photovoltaic plant in El Casar, Guadalajara, Spain. Opened in October 2019 in partnership with Grupo Ortiz.
• Aguascalientes Solar Complex 348 MWp solar complex in El Llano, Aguascalientes, Mexico, developed in partnership with Cubico (Ontario Teacher's Pension Plan and PSP Investment Board). Two plants of 150 MW and 140 MW operational since 2018.
• Niassa Solar Project 40 MWp PV plant in Cuamba, Niassa Province, Mozambique. PPP with EDM (15% stake) and Alten/partner consortium (85% stake), with 25-year PPA signed September 2020.
• Lokoja Solar Project 120-157 MWp photovoltaic project in Lokoja, Kogi State, Nigeria. Developed in partnership with IFC through Middle Band Solar One Limited, with PPA signed with NBET.

Named customers5 records

Segments1 record

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

Six partnerships are on record, tiered core and minor.

• Electricidade de Mozambique (EDM)coreStrategic or Co-development Partner · 30 September 2020Niassa Energia Solar (subsidiary of Alten Africa) signed a 25-year PPA with EDM, Mozambique's national utility. EDM holds 15% stake in the project as a PPP partner. Project involves 40 MWp PV plant connecting via Cuamba substation.
• CESALminorOthers · 18 June 2020Spanish NGO CESAL collaborated with Alten Africa in Kenya for logistics and distribution of PPE donations to the Uasin Gishu government during the COVID-19 pandemic.
• AVSI FoundationminorOthers · 18 June 2020Kenyan AVSI Foundation partnered with Alten Africa in Kenya for logistics and distribution of PPE donations to the Uasin Gishu government during COVID-19.
• Grupo OrtizminorStrategic or Co-development Partner · 21 April 2019Partnership with Spanish company Grupo Ortiz for the inauguration and development of the 13 MWp El Casar solar photovoltaic plant in Guadalajara, Spain.
• VoltaliaminorImplementation/ SI/ Consulting Partner · 13 December 2018Voltalia was selected to execute EPC (Engineering, Procurement, Construction) and O&M services for Alten Africa's 40 MWac Kesses photovoltaic plant in Kenya, located in Uasin Gishu County near Eldoret.
• NamPowercoreStrategic or Co-development Partner · 23 May 2017NamPower, Namibia's state electricity company, partnered with Alten as PPP co-investor (19% stake) for the development of the 45.5 MWp Hardap solar PV plant, the largest in Sub-Saharan Africa outside South Africa. Alten handled development, financing, construction management, and O&M.

Scale indicators7 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• Sonnedix: Global solar independent power producer with operating and development assets across Europe, the Americas, and Africa. Comparable to ALTEN in its full-stack solar IPP model, long-term PPAs, and emerging/transition-market focus.
• Scatec ASA: Norwegian-listed solar, hydro, and wind IPP with a heavy emerging-market focus (Africa, Asia, Latin America). Closely comparable to ALTEN as a utility-scale solar developer selling to sovereign offtakers under long-term PPAs in similar geographies.
• ACWA Power: Saudi-headquartered developer, owner, and operator of power generation and desalinated water with a large solar/wind IPP portfolio in Africa, the Middle East, and Central Asia. Comparable as a utility-scale renewables IPP winning tenders and signing long-dated PPAs in emerging markets.
• Voltalia: French-listed renewable energy IPP operating wind, solar, hydro, and storage projects across Europe, Latin America, Africa, and the Middle East. Comparable to ALTEN as a multi-geography utility-scale solar developer; Voltalia also served as ALTEN's EPC/O&M contractor on the Kesses project in Kenya.
• Globeleq: UK-based power company focused exclusively on developing, building, and operating renewable power projects across Sub-Saharan Africa. Directly comparable to ALTEN Africa on geography, customer type (national utilities), and IPP business model.
• Cubico Sustainable Investments: Global renewables investor/owner (backed by OTPP and PSP) operating utility-scale wind and solar assets. Comparable as an institutional counterparty and co-investor in solar IPPs in Latin America (e.g., Aguascalientes JV with ALTEN).

Broad incumbents

• Enel Green Power: Global renewable energy arm of Enel Group with 50+ GW of operating capacity across wind, solar, geothermal, and hydro. Comparable as a large-scale utility renewables developer competing with ALTEN in Mexican, Iberian, and African tender markets.
• EDF Renewables: International renewable energy developer (subsidiary of EDF Group) with utility-scale wind, solar, and storage projects in the Americas, Europe, Africa, and the Middle East. Comparable as a broad incumbent competing for the same utility-scale solar tenders ALTEN targets.
• Brookfield Renewable Partners: NYSE-listed owner/operator of one of the world's largest publicly traded renewable power platforms, with solar, wind, hydro, and storage across the Americas, Europe, and Asia. Comparable as a deep-pocketed incumbent in the same utility-scale solar IPP category.

Emerging players

• Matrix Renewables: TPG-backed solar and storage developer with a strong Iberian and Latin American pipeline. Directly comparable as a peer/competitor after acquiring 300 MW of ALTEN's Iberian assets in 2021 and signing a 2 GW co-development agreement with ALTEN's management.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/altenenergias
• Facebookfacebook.com/alten.energias
• LinkedInlinkedin.com/company/5381834

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Subsidiaries5 records

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about ALTEN Renewable Energy