Company: ALCE
Filing Date: 2025-06-06
Form Type: 10-K
Source: 0001213900-25-052242
Chunk: 2286

Company: Alternus Clean Energy, Inc.
Filing Date: 2025-06-06
Form: 10-K
Item: Item 7
Chunk 2286
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in thousands):

     December 31,   December 31,      2024   2023   Operating Lease - Operating Cash Flows (Fixed Payments)   -    142   Operating Lease - Operating Cash Flows (Liability Reduction)   43    83                New ROU Assets - Operating Leases   -    409                Weighted Average Lease Term - Operating Leases (years)   34.05    20.32   Weighted Average Discount Rate - Operating Leases   9.3%   8.20% 

The Company’s operating
leases generally relate to the rent of office building space, as well as land and rooftops upon which the Company’s solar parks
are built. These leases include those that have been assumed in connection with the Company’s asset acquisitions and business combinations.
The Company’s leases are for varying terms and expire between 2027 and 2055.

In October 2023, the Company
entered a new lease for land in Madrid, Spain where solar parks are planned to be built. The lease term is 35 years with an estimated
annual cost of $32 thousand. The Company impaired the asset as of December 31, 2024, but there was no impairment on the lease due to the
Company still owning the lease obligation as of year end.

Maturities of lease liabilities
as of December 31, 2024 were as follows:

    (in thousands) 
  
    Five-year lease schedule: 

    2025 
    $34 
  
    2026 
     35 
  
    2027 
     36 
  
    2028 
     37 
  
    Thereafter 
     1,876 
  
    Total lease payments 
     2,018 
  
    Less imputed interest 
     (1,583)
  
    Total 
    $435 

On November 5, 2024, the Company
sold Alternus Energy Americas Inc. back to AEG. The United States office lease was part of the deconsolidation, with $126 thousand incurred
as lease expense before that date. Refer to Footnote 20 for more details.

The Company had no finance
leases as of December 31, 2024 and 2023.