Company: ALCE
Filing Date: 2025-06-30
Form Type: 10-Q
Source: 0001213900-25-059349
Chunk: 255

Company: Alternus Clean Energy, Inc.
Filing Date: 2025-06-30
Form: 10-Q
Item: Part I, Item 2
Chunk 255
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costs, engineering, and construction related costs that are deemed recoverable. The Company’s cost of revenues with regards to its
solar parks is primarily a result of the asset management, operations, and maintenance, as well as tax, insurance, and lease expenses.
Certain economic incentive programs, such as FIT regimes, generally include mechanisms that ratchet down incentives over time. As a result,
the Company seeks to connect its solar parks to the local power grids and commence operations in a timely manner to benefit from more
favorable existing incentives. Therefore, the Company generally seeks to make capital investments during times when incentives are most
favorable.

40

Cost of revenues for the three months ended March
31, 2025 and 2024 were as follows:

    Three Months Ended March 31, 
  
    Cost of Revenues by Country 
    2025  
    2024  
    Change  ($)  
    Change (%) 

    (in thousands) 
  
    United States 
               -  
     15  
     (15) 
     (100)%
  
    Total for continuing operations 
    $-  
    $15  
    $(15) 
     (100)%

    Discontinued Operations: 

    Netherlands 
    $-  
    $115  
    $(115) 
     (100)%
  
    Poland 
     -  
     101  
     (101) 
     (100)%
  
    Romania 
     -  
     819  
     (819) 
     (100)%
  
    Total for discontinued operations 
    $-  
    $1,035  
    $(1,035) 
     (100)%
  
    Total for the period 
    $-  
    $1,050  
    $(1,050) 
     (100)%

Cost of revenues for continuing operations decreased
by $15 thousand for the three months ended March 31, 2025 compared to the same period in 2024. The decrease was due to the operating parks
in the United States being sold in November of 2024.

Cost of revenues for discontinued operations decreased
by $1.0 million for the three months ended March 31, 2025 compared to the same period in 2024 due to all operating parks in Poland, the
Netherlands, and Romania