Company: ALCE
Filing Date: 2025-06-06
Form Type: 10-K
Source: 0001213900-25-052242
Chunk: 843

Company: Alternus Clean Energy, Inc.
Filing Date: 2025-06-06
Form: 10-K
Item: Item 1C
Chunk 843
---
 work performed for Solis endeavors
abandoned in 2023.

Depreciation, Amortization, and Accretion Expense 

Depreciation, amortization, and accretion expenses
for the year ended December 31, 2024 and 2023 were as follows:

    Year Ended December 31, 

    2024  
    2023  
    Change
 ($)  
    Change 
(%) 

    (in thousands) 
  
    Depreciation, Amortization and Accretion expense 
    $215  
    $1,673  
    $(1,458) 
     (87)%
  
    Total for continuing operations 
    $215  
    $1,673  
    $(1,458) 
     (87)%

    Discontinued Operations: 

    Depreciation, Amortization and Accretion expense 
    $1,691  
    $4,946  
    $(3,255) 
     (66)%
  
    Total for discontinued operations 
    $1,691  
    $4,946  
    $(3,255) 
     (66)%
  
    Total for the period 
    $1,906  
    $6,619  
    $(4,713) 
     (71)%

Depreciation, amortization and accretion expenses
for continuing operations decreased by $1.5 million for the year ended December 31, 2024 compared to the same period in 2023 as there
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