Company: ALCE
Filing Date: 2025-01-27
Form Type: S-1
Source: 0001213900-25-007054
Chunk: 281

Company: Alternus Clean Energy, Inc.
Filing Date: 2025-01-27
Form: S-1
Chunk 281
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 (in thousands) |       |     | December 31 
 2023        |       |
|:-----------------------------|:----|:---------------|------:|:----|:------------|------:|
| Capitalized development cost |     | $              | 7,691 |     | $           | 6,216 |
| Other receivables            |     |                | 1,000 |     |             | 1,483 |
| Total                        |     | $              | 8,691 |     | $           | 7,699 |

Capitalized development cost relates to various projects that are under development for the period. As the Company closes either the 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 September 30, 2024 consist of $ 3.7million of active development in the U.S. and $ 4million across Europe.

Other Receivables as of September 30, 2024 relates to a security deposit of $ 1.0million in relation to the Power Purchase Agreement for a development project in Tennessee.

10. Accrued Liabilities

Accrued expenses relate to various accruals for the Company. Accrued interest represents the interest in debt not paid in the nine months ended September 30, 2024 and in the year ended December 31, 2023. Accrued liabilities consist of the following:

|                                                 |     | September 30   
 2024           
 (in thousands) |        |     | December 31 
 2023        |        |
|:------------------------------------------------|:----|:---------------|-------:|:----|:------------|-------:|
| Accrued legal                                   |     | $              |    439 |     | $           |  1,798 |
| Accrued interest                                |     |                |  9,159 |     |             |  3,482 |
| Accrued financing cost                          |     |                |  3,628 |     |             |  3,537 |
| Accrued construction expense                    |     |                |    363 |     |             |  2,134 |
| Accrued transaction cost - business combination |     |