Company: ALCE
Filing Date: 2025-01-27
Form Type: S-1
Source: 0001213900-25-007054
Chunk: 293

Company: Alternus Clean Energy, Inc.
Filing Date: 2025-01-27
Form: S-1
Chunk 293
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 and its affiliates (“Hover”) to establish a joint venture (the “JV”) for the financing, development, management and operation of ‘Microgrid Projects’ utilizing Hover Wind-Powered Microgrid™ technology, as required. Pursuant to the said JV, the Company and Hover have agreed to have a 51% interest and a 49% interest in the JV, for which, the Company has issued 200,000shares of restricted common stock to Hover valued at $ 10.00per share and will issue and commit 140,000additional shares of restricted common stock, and Hover will contribute 100% of its projects and project pipeline.

15. Development Costs

The Company depends heavily on government policies that support our business and enhance the economic feasibility of developing and operating solar energy projects in regions in which we operate or plan to develop and operate renewable energy facilities. The Company can decide to abandon a project if it becomes uneconomic due to various factors, for example, a change in market conditions leading to higher costs of construction, lower energy rates, political factors or otherwise where governments from time to time may review their laws and policies that support renewable energy and consider actions that would make the laws and policies less conducive to the development and operation of renewable energy facilities, or other factors that change the expected returns on the project. Any reductions or modifications to, or the elimination of, governmental incentives or policies that support renewable energy or the imposition of additional taxes or other assessments on renewable energy could result in, among other items, the lack of a satisfactory market for the development and/or financing of new renewable energy projects, our abandoning the development of renewable energy projects, a loss of our investments in the projects, and reduced project returns, any of which could have a material adverse effect on our business, financial condition, results of operations, and prospects.

|                  |     | Nine         
 Months Ended 
 September 30 
 2024         
 (in          
 thousands)   |      |   |     | 2023 |      |   |
|:-----------------|:----|:-------------|:-----|:--|:----|:-----|:-----|:--|
| Miscellaneous    
 development cost |     | $            | (748 | ) |     | $    | (335 | ) |
| Total            |     | $            | (748 | ) |     | $    | (335 | ) |

F-64 Miscellaneous development cost relates to cost associated with projects abandoned during various phases, due to lack of technical, legal,