Company: ALCE
Filing Date: 2025-01-27
Form Type: S-1
Source: 0001213900-25-007054
Chunk: 101

Company: Alternus Clean Energy, Inc.
Filing Date: 2025-01-27
Form: S-1
Chunk 101
---
438 |     | $      | (438 | ) |     |        | (100 | )% |
| Total for discontinued operations |     | $                               |   - |     | $    | 438 |     | $      | (438 | ) |     |        | (100 | )% |
| Total for the period              |     | $                               | 748 |     | $    | 773 |     | $      |  (25 | ) |     |        |   (3 | )% |

Development cost for continuing operations increased by $0.7 million for the three months ended September 30, 2024 compared to the same period in 2023 due to final work performed for projects abandoned for the development of renewable energy projects in Spain and the US. Development cost increased by $0.4 million for the nine months ended September 30, 2024 compared to the same period in 2023 due to final work performed for projects abandoned for the development of renewable energy projects in Spain and the US. Development cost for discontinued operations decreased by $0.4 million for the nine months ended September 30, 2024 compared to the same period in 2023 due to final work performed for Solis endeavors abandoned in 2023. The Company depends heavily on government policies that support our business and enhance the economic feasibility of developing and operating solar energy projects in regions in which we operate or plan to develop and operate renewable energy facilities. The Company can decide to abandon a project if there is material change in budgetary constraints, political factors or otherwise, governments from time to time may review their laws and policies that support renewable energy and consider actions that would make the laws and policies less conducive to the development and operation of renewable energy facilities. Any reductions or modifications to, or the elimination of, governmental incentives or policies that support renewable energy or the imposition of additional taxes or other assessments on renewable energy, could result in, among other items, the lack of a satisfactory market for the development and/or financing of new renewable energy projects, our abandoning the development of renewable energy projects, a loss of our investments in the projects, and reduced project returns, any of which could have a material adverse effect on our business, financial condition, results of operations and prospects. Refer to Footnote 17 to the accompanying financial statements for more detail of development cost. Depreciation, Amortization and Accretion Expense Depreciation, amortization, and accretion expenses for the three and nine months