Company: ALCE
Filing Date: 2025-06-06
Form Type: 10-K
Source: 0001213900-25-052242
Chunk: 1822

Company: Alternus Clean Energy, Inc.
Filing Date: 2025-06-06
Form: 10-K
Item: Item 5
Chunk 1822
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 facilities 
    $-  
    $5,134 
  
    Furniture and fixtures 
     -  
     48 
  
    Construction in progress 
     -  
     12,420 
  
    Total property and equipment 
     -  
     17,602 
  
    Less: Accumulated depreciation 
     -  
     (63)
  
    Total 
    $-  
    $17,539 

All solar energy facilities
and construction projects in progress as of December 31, 2023 were part of the sale of Alternus Energy Americas Inc. and its subsidiaries
on November 5, 2024.

F-27

    9.
    Capitalized development cost and other long-term assets

Capitalized development costs
are amounts paid to vendors that are related to the purchase and construction of solar energy facilities. Long-term prepaid expenses and
other receivables consist of amounts owed to the Company as well as amounts paid to vendors for services that have yet to be received
by the Company. Capitalized development costs and other long-term assets consisted of the following:

    Year Ended December 31, 

    2024  
    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