Company: ALCE
Filing Date: 2025-06-06
Form Type: 10-K
Source: 0001213900-25-052242
Chunk: 2196

Company: Alternus Clean Energy, Inc.
Filing Date: 2025-06-06
Form: 10-K
Item: Item 7
Chunk 2196
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 from FiT, PPA, REC, or in the day-ahead or spot market.

Revenue

Revenue for the year ended December 31, 2024 and
2023 were as follows:

    Year Ended December 31, 
  
    Revenue by Country 
    2024  
    2023  
    Change 
($)  
    Change 
(%) 

    (in thousands) 
  
    Italy 
    $-  
    $3,360  
    $(3,360) 
     (100)%
  
    United States 
     311  
     116  
     195  
     168%
  
    Total for continuing operations 
    $311  
    $3,476  
    $(3,165) 
     (91)%

    Discontinued Operations: 

    Netherlands 
    $16  
    $2,840  
    $(2,824) 
     (99)%
  
    Poland 
     106  
     7,593  
     (7,487) 
     (99)%
  
    Romania 
     9,687  
     16,608  
     (6,921) 
     (42)%
  
    Total for discontinued operations 
    $9,809  
    $27,041  
    $(17,232) 
     (64)%
  
    Total for the period 
    $10,120  
    $30,517  
    $(20,397) 
     (67)%

Revenue for continuing operations decreased by
$3.2 million for the year ended December 31, 2024 compared to the same period in 2023 as there was only one country producing revenue
in 2024 (Lightwave parks) compared to the additional 11 Italian parks that were producing revenue in 2023. Furthermore, the total revenue
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.

Revenue for discontinued operations decreased
by $17.2 million for the year ended December 31, 2024 compared to the same period in 2023. All operating parks in Poland and the Netherlands