Company: ALCE
Filing Date: 2025-01-27
Form Type: S-1
Source: 0001213900-25-007054
Chunk: 243

Company: Alternus Clean Energy, Inc.
Filing Date: 2025-01-27
Form: S-1
Chunk 243
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 |   |     |   |     497 |   |
| Furniture and fixtures         |     |                         |    210 |   |     |   |      49 |   |
| Asset retirement               |     |                         |    168 |   |     |   |     341 |   |
| Construction in progress       |     |                         | 12,421 |   |     |   |   3,093 |   |
| Total property and equipment   |     |                         | 68,628 |   |     |   |  79,096 |   |
| Less: Accumulated depreciation |     |                         | (7,326 | ) |     |   | (10,143 | ) |
| Total                          |     | $                       | 61,302 |   |     | $ |  68,953 |   |

There was $ million transferred
from construction in progress to solar energy facilities during the twelve-month period through December 31, 2023 and $ million during
the twelve-month period through December 31, 2022.

| 10. | Capitalized development cost and other long-term assets |

Capitalized development costs
are amounts paid to vendors that are related to the purchase and construction of solar energy facilities. Notes receivable and prepaids
consist of amounts owed to the Company as well as amounts paid to vendors for services that have yet to be received by the Company.

|                              |     | Year Ended December 31, |  2023 |     |   |  2022 |
|:-----------------------------|:----|:------------------------|------:|:----|:--|------:|
|                              |     | -in thousands           |       |     |   |       |
| Capitalized development cost |     | $                       | 6,216 |     | $ | 2,146 |
| Other receivables            |     |                         | 1,483 |     |   |     - |
| Total                        |     | $                       | 7,699 |     | $ | 2,146 |

Capitalized development cost
relates to various projects that are under development for the period. As the Company closes either a 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