Company: ALCE
Filing Date: 2025-06-06
Form Type: 10-K
Source: 0001213900-25-052242
Chunk: 0

Company: Alternus Clean Energy, Inc.
Filing Date: 2025-06-06
Form: 10-K
Item: Item 1
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Item 1. Business

Each
of the terms “Alternus,” the “Company,” “we,” “our,” “us,” and similar terms
used herein refer collectively to Alternus Clean Energy, Inc., formerly known as Clean Earth Acquisitions Corp., and where appropriate,
our wholly owned subsidiaries.

The Company

The Company was incorporated on May 14, 2021 under
the laws of Delaware and currently has 14 employees; 7 employees are located Dublin, Ireland, 2 are located at the Company’s headquarters
located in New York, 2 remote employees in the US and 3 are located in Europe. Our employees perform various services such as business
development, finance, and management functions.

We are a comprehensive clean energy provider with
a current focus on renewable energy generation with plans to expand into additional business activities in other market segments that
provide sustainable operations and support a circular economy. Through strategic investments we are building a portfolio of assets poised
to lead the transition to a more sustainable energy future. Alternus Clean Energy is building a comprehensive clean energy platform designed
to deliver reliable power to customers 24/7- 365, in turn, supporting the global shift toward energy independence and security.

Our current energy generation activities focus
on two main market segments: (1) utility-scale solar and storage facilities that connect and supply clean energy directly to national
power grids under long-term offtake contracts and (2) microgrids that generate on site, ‘behind-the-meter’, clean energy to
corporate clients that have a combination of wind, solar, and storage facilities installed within their own facilities.

The Company currently operates these businesses
in North America and Europe.

Business Model

As a comprehensive renewable energy business,
Alternus operates across the entire renewable energy project lifecycle, from early-stage development through construction, long-term ownership,
and recurring revenue generation. Our high-value “develop-to-own or sell” model is designed to minimize capital and equity
requirements while maximizing value capture throughout each project phase.

Alternus Clean Energy Project Stage Classification:

The earlier in the cycle that we acquire new projects
means we retain more of the project market value created as it passes each milestone. If we acquire projects further along the value chain,
then we pay more capital (and value) to third parties for those projects. The value creation at each stage results from the de-risking
of the projects as they get closer to operation and as a result, attract higher valuations at the later stages as the project risk