Company: ALCE
Filing Date: 2025-06-06
Form Type: 10-K
Source: 0001213900-25-052242
Chunk: 1531

Company: Alternus Clean Energy, Inc.
Filing Date: 2025-06-06
Form: 10-K
Item: Item 4
Chunk 1531
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was only one country with operating parks recognizing depreciation in 2024 (Lightwave parks) compared to the additional 11 Italian parks
in 2023. Furthermore, the total depreciation expense for 2024 accounts for only 10 months as the Company deconsolidated Lightwave Renewables,
LLC and sold 100% of its equity ownership to AEG (parent company) on November 5, 2024. Refer to Footnote 20 for additional deconsolidation
information.

Depreciation, amortization and accretion expenses
for discontinued operations decreased by $3.3 million for the year ended December 31, 2024 compared to the same period in 2023. All operating
parks in Poland and the Netherlands were sold on January 19, 2024 and February 21, 2024, respectively, resulting in a $2.8 million decrease
in depreciation expense. Furthermore, the total Romanian depreciation expense for 2024 accounts for only nine months as the Company sold
the Romanian operating parks on October 3, 2024. Refer to Footnote 19 for additional sale information.

57

Gain on Disposal of Assets

    Year Ended December 31, 

    2024  
    2023  
    Change ($)  
    Change  (%) 

    (in thousands) 
  
    Loss on disposal of assets 
    $-  
    $(4,854) 
    $4,854  
     (100)%
  
    Costs related to disposal of asset 
     -  
     (647) 
     647  
     (100)%
  
    Total for continuing operations 
    $-  
    $(5,501) 
    $5,501  
     (100)%

    Discontinued Operations: 

    Gain on disposal of asset 
    $3,374  
     -  
     3,374  
     100%
  
    Costs related to disposal of asset 
     (1,843) 
     (137) 
     (1,706) 
     1,245%
  
    Gain on sale of discontinued operations 
     51,844  
     -  
     51,844  
     100%
  
    Total for discontinued operations 
    $53,375  
    $(137) 
    $53,512