Company: ALCE
Filing Date: 2025-01-27
Form Type: S-1
Source: 0001213900-25-007054
Chunk: 124

Company: Alternus Clean Energy, Inc.
Filing Date: 2025-01-27
Form: S-1
Chunk 124
---
 risk by commercially transacting in the currencies in which the Company materially incurs operating expenses. The Company limits the extent to which it incurs operating expenses in other currencies, wherever possible, thereby minimizing the realized and unrealized foreign exchange gain/ loss. The currency of the Company’s borrowing is, in part, matched to the currencies expected to be generated from the Company’s operations. Intercompany funding is typically undertaken in the functional currency of the operating entities or undertaken to ensure offsetting currency exposures. Interest Rate Risk Fluctuations in interest rates can impact the value of investments and financing activities, giving rise to interest rate risk. The debt of the Company is comprised of different instruments, which bear interest at either fixed or floating interest rates. The ratio of fixed and floating rate instruments in the loan portfolio is monitored and managed. Refer to Footnote 13 – Green Bonds, Convertible and Non-convertible Promissory Notes for more information. The Company believes that the interest rates on all borrowings compare favorably with those rates available in the market. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure None. 83 BUSINESS Overview The Company was incorporated on May 14, 2021 under the laws of Delaware and currently has 19 employees; 10 employees are located Dublin, Ireland, 2 are located at the Company’s headquarters located in New York, 4 remote employee in the US and 3 are located in Europe. Our employees perform various services such as business development, finance and management functions. We are an independent clean energy producer that develops, installs, and operates a diverse portfolio of renewable energy assets in North America and Europe. You may also hear the term IPP, or independent power producer, to describe similar companies, however we want to focus on the clean nature of the energy generated from the renewable energy assets we own and operate. With a primary focus as a long-term owner operator, we focus on ensuring that the projects we develop and install for our own use, are designed to deliver the most efficient operating results over the full project lifetime, which averages over 30 years. Our renewable energy assets benefit from long-term government offtake contracts and/or Power Purchase Agreements (“ PPAs”) with investment grade off-takers with terms of 15 – 20 years, plus energy sales to local power grids where relevant. As of January 24, 2025, we have approximately 11 utility scale solar parks totaling 217 MW at medium to late-stage development stage in Italy. These are targeted to reach