Company: ALCE
Filing Date: 2025-01-27
Form Type: S-1
Source: 0001213900-25-007054
Chunk: 246

Company: Alternus Clean Energy, Inc.
Filing Date: 2025-01-27
Form: S-1
Chunk 246
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 2022, AEG MH02 entered
into a loan agreement with a group of private lenders of approximately $ million with an initial stated interest rate of % and a
maturity date of . In February 2023, the loan agreement was amended stating a new interest rate of % retroactive to the
date of the first draw in June 2022. In May 2023, the loan was extended and the interest rate was revised to % from June 1, 2023. In
July 2023, the loan agreement was further extended to October 31, 2023. In November 2023, the loan agreement was further extended to
May 31, 2024. Due to these addendums, $ million of interest was recognized in the period ended December 31, 2023. The Company had
principal outstanding of $ million and $ million as of December 31, 2023 and 2022, respectively.

In June 2022, Alt US 02, a
subsidiary of Alternus Energy Americas, and 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 $ million with a variable interest rate of prime plus % and an original maturity date of . On January
26, 2024 the loan was extended to June 29, 2024 due to logistical issues that caused construction delays. The Company had principal outstanding
of $ million and $ million as of December 31, 2023 and 2022, respectively.

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 $
thousand with a variable interest rate of prime plus % and due May 31, 2024. This note had a principal outstanding balance of $
thousand as of December 31, 2023.

In July 2023, one of the Company’s
US subsidiaries acquired a 32 MWp solar PV project in Tennessee for $ million financed through a bank loan having a six-month term,
% APY, and an extended maturity date of . In March 2024, the loan was further