Company: ALCE
Filing Date: 2025-06-06
Form Type: 10-K
Source: 0001213900-25-052242
Chunk: 1983

Company: Alternus Clean Energy, Inc.
Filing Date: 2025-06-06
Form: 10-K
Item: Item 6
Chunk 1983
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 a $0.5 million
positive movement in fair value on the convertible debt issued during 2024, a $0.1 million positive movement in fair value on the private
warrant issued during 2024, a $0.2 million gain recognized on the conversion of the Nordic ESG debt to shares in January 2024, and $1.6
million increase in other income due to the sale of Lightwave tax credits to an energy company in Texas. This decrease was partially offset
by a $3.1 million increase in interest expense, a $0.5 million reduction in valuation on the Forward Purchase Agreement, a $0.5 million
net loss on issuance of convertible debt and private placement warrants issued in April and October 2024, and $0.5 million increase in
other expense due to the recognition of termination agreement with Meteora.

Total other expenses for discontinued operations
decreased by $22.8 million for the year ended December 31, 2024 compared to the same period in 2023. The primary drivers of the decrease
from 2023 is the recognition of a $11.2 million bond waiver fee for the Solis bond in 2023 that was not present for 2024, a $10.0 million
decrease in interest expense, and a $1.6 million decrease in other expense due to the write off of a Romanian receivable from 2021 expected
to be paid by the Romanian government. The proceeds from the sale of the Polish and Netherlands parks in early 2024 were used to reduce
the principal balance of the Solis Bond, resulting in lower interest expense for the rest of the year. Additionally, the interest expense
for 2024 accounts for only nine months as the Company sold Solis on October 3, 2024. Refer to Footnote 19 for additional sale information.

Income Tax

    Year Ended December 31, 

    2024  
    2023  
    Change  ($)  
    Change  (%) 

    (in thousands) 
  
    Corporate tax expense 
    $(590) 
    $(15) 
    $(575) 
     3,833%
  
    Total for continuing operations 
    $(590) 
    $(15) 
    $(575) 
     3,833%

    Discontinued Operations: 

    Corporate tax expense 
    $(87) 
    $(161) 
    $74