Company: ALCE
Filing Date: 2025-01-27
Form Type: S-1
Source: 0001213900-25-007054
Chunk: 283

Company: Alternus Clean Energy, Inc.
Filing Date: 2025-01-27
Form: S-1
Chunk 283
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 addendums, $ 2.5million of interest was recognized in the nine months ending September 30, 2024. The Company had principal outstanding of $ 11.2million and $ 11.0million as of September 30, 2024 and December 31, 2023, respectively.

In June 2022, Alt US 02, a subsidiary of Alternus Energy Americas, an indirect wholly owned subsidiary of the Company, entered into an agreement as part of the transaction with Lightwave Renewables, LLC to acquire rights to develop a solar park in Tennessee. The Company entered into a construction promissory note of $ 5.9million with a variable interest rate of prime plus 2.25% and an original maturity date of June 29, 2023. On January 26, 2024, the loan was extended to June 29, 2024 due to logistical issues that caused construction delays. On October 11, 2024, management renegotiated the terms with the lender to extend the maturity date to March 29, 2025. The Company had principal outstanding of $ 5.4million and $ 4.3million as of September 30, 2024 and December 31, 2023, respectively. Subsequently, the Company sold Alternus Energy Americas and its subsidiaries, including Alt US 02, to Alternus Energy Group plc, the Company’s majority shareholder, on November 5, 2024. See Subsequent Events Footnote 23 for further details.

F-59 On February 28, 2023, Alt US 03, a subsidiary of Alternus Energy Americas, and indirect wholly owned subsidiary of the Company, entered into an agreement as part of the transaction to acquire rights to develop a solar park in Tennessee. Alt US 03 entered into a construction promissory note of $ 920thousand with a variable interest rate of prime plus 2.25% and due May 31, 2024. On July 2, 2024, management renegotiated the terms with the lender to a revised interest rate of 11% and to extend the maturity date to November 30, 2024. This note had a principal outstanding balance of $ 717thousand as of September 30, 2024 and December 31, 2023, respectively. Subsequently, the Company sold Alternus Energy Americas and its subsidiaries, including Alt US 03, to Alternus Energy