Company: ALCE
Filing Date: 2025-01-27
Form Type: S-1
Source: 0001213900-25-007054
Chunk: 247

Company: Alternus Clean Energy, Inc.
Filing Date: 2025-01-27
Form: S-1
Chunk 247
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 extended to May 31, 2024 with the rate
reduced to %. The project is expected to start operating in Q1 2025. % of offtake is already secured by 30-year power purchase
agreements with two regional utilities. The Company had a principal outstanding balance of $ million as of December 31, 2023.

F-28 In July 2023, Alt Spain Holdco, one of the Company’s Spanish subsidiaries acquired the project rights to construct a 32 MWp portfolio of Solar PV projects in Valencia, Spain, with an initial payment of $ 1.9million, financed through a bank loan having a six-month term and accruing ’Six Month Euribor’ plus 2% margin, currently 5.9% interest. On January 24, 2024, the maturity date was extended to July 28, 2024. The portfolio consists of six projects totaling 24.4 MWp. This note had a principal outstanding balance of $ 3.3million as of December 31, 2023. In October 2023, Alternus Energy Americas, one of the Company’s US subsidiaries secured a working capital loan in the amount of $ 3.2million with a 0% interest until a specified date and a maturity date of March 31, 2024. The Company had a principal outstanding balance of $ 3.2million as of December 31, 2023. In December 2023, Alt US 07, one of the Company’s US subsidiaries acquired the project rights to a 14 MWp solar PV project in Alabama for $ 1.1million financed through a bank loan having a six-month term, 24% APY, and a maturity date of May 28, 2024. The project is expected to start operating in Q2 2025. 100% of offtake is already secured by 30-year power purchase agreements with two regional utilities. This note had a principal outstanding balance of $ 1.1million as of December 31, 2023. In December 2023, the Company assumed an existing loan to the Sponsors of Clean Earth with a balance of $ 1.6million with a 0% interest rate until perpetuity as part of the Business Combination with Clean Earth. The Company had a principal outstanding balance of $ 1.6million as of December 31, 2023. Convertible Promissory Notes: