Company: ALCE
Filing Date: 2025-06-06
Form Type: 10-K
Source: 0001213900-25-052242
Chunk: 160

Company: Alternus Clean Energy, Inc.
Filing Date: 2025-06-06
Form: 10-K
Item: Item 1
Chunk 160
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2023 

    (in thousands) 
  
    Capitalized development costs 
    $4,775  
    $6,216 
  
    Long-term prepaid expenses 
     518  
     - 
  
    Other receivables 
     -  
     1,483 
  
    Total 
    $5,293  
    $7,699 

Capitalized development cost
relates to various projects that are under development for the period. As the Company closes either a purchase or development of new solar
parks, these development costs are added to the final asset displayed in Property, and Equipment. If the Company does not close on the
prospective project, these costs are written off to Development Cost on the Consolidated Statement Operations and Comprehensive Loss.

Capitalized development costs
as of December 31, 2024 consisted of $1.2 million of active development in the United States and $3.6 million across Europe. Capitalized
development costs as of December 31, 2023 consisted of $2.1 million of active development in the U.S and $4.1 million across Europe.

Long-term Prepaid Expenses
consist of estimated income tax payments made by Clean Earth prior to the business combination in December 2023.

Other Receivables relates
to a 2023 security deposit of $1.0 million in relation to the Power Purchase Agreement for a development project in Tennessee, which was
included in the sale of Alternus Energy Americas and its subsidiaries to Alternus Energy Group Plc on November 5, 2024 (see Footnote 20
for further details). The remaining $483 thousand related to the Forward Purchase Agreement as of December 31, 2023. This was written
down to $0 in 2024 due to the change in fair value of the FPA (see Footnote 5 for further details).

    10.
    Accounts Payable

Accounts payable represents
the amounts owed to suppliers of goods and services the Company has consumed through operations. Accounts payable consist of the following:

    Year Ended December 31, 

    2024  
    2023 

    (in thousands) 
  
    Accounts payable 
    $9,799  
    $3,590 
  
    Total 
    $9,799  
    $3,590 

F-28

    11.
    Deferred Income

Deferred income relates to
income related