Company: ALCE
Filing Date: 2025-01-27
Form Type: S-1
Source: 0001213900-25-007054
Chunk: 103

Company: Alternus Clean Energy, Inc.
Filing Date: 2025-01-27
Form: S-1
Chunk 103
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 $ | (10,574 | ) |     |     | (93    | )% |

Development cost decreased by $10.6 million for the year ended December 31, 2023 compared to 2022, due to final work performed for projects abandoned for the development of renewable energy projects. This decrease was directly related to the costs incurred by the abandonment of the project Solartechnik in Poland in 2022. 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 19 to the accompanying financial statements for more detail of development cost. There were no development costs for discontinued operations for the year ended December 31, 2023 and 2022. Depreciation, Amortization and Accretion Expense Depreciation, amortization and accretion expenses for the year ended December 31, 2023 and 2022 were as follows:

|                                          |     | Year Ended December 31, |  2023 |     |   |  2022 |     |   | Change 
 ($)    |   |     |     | Change 
 (%)    |    |
|:-----------------------------------------|:----|:------------------------|------:|:----|:--|------:|:----|:--|:-------|:--|:----|:----|:-------|:---|
|                                          |     | -in thousands           |       |     |   |       |     |   |        |   |     |     |        |    |
| Depreciation, Amortization