Company: ALCE
Filing Date: 2025-06-06
Form Type: 10-K
Source: 0001213900-25-052242
Chunk: 472

Company: Alternus Clean Energy, Inc.
Filing Date: 2025-06-06
Form: 10-K
Item: Item 1A
Chunk 472
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    Revenues 
    $16  
    $2,840 

    Operating Expenses 

    Cost of revenues 
     (115) 
     (450)
  
    Depreciation, amortization, and accretion 
     (57) 
     (400)
  
    Loss on disposal of asset 
     (1,187) 
     (7)
  
    Total operating expenses 
     (1,359) 
     (857)

    Income from discontinued operations 
     (1,343) 
     1,983 

    Other income/(expense): 

    Interest expense 
     (113) 
     (1,131)
  
    Other expense 
     -  
     (62)
  
    Total other expenses 
    $(113) 
    $(1,193)
  
    Income/(Loss) before provision for income taxes 
    $(1,456) 
    $790 
  
    Income taxes 
     -  
     (161)
  
    Net income/(loss) from discontinued operations 
    $(1,456) 
    $629 

F-41

Immediately before the classification
of the disposal groups as discontinued operations, the recoverable amount was estimated for certain items of property, plant, and equipment
and no impairment loss was identified. As of December 31, 2023, there were no further write-downs as the carrying amounts of the disposal
groups did not fall below their fair value less costs to sell.

On October 3, 2024, the Company
completed the sale of Solis Bond Company DAC, a company formed under the laws of Ireland and an indirect wholly owned subsidiary of the
Company, and its subsidiaries in Romania to Solis Trustee Special Vehicle Limited, the Solis Bondholders’ ownership vehicle, for
€1 in accordance with the terms of the Solis Bonds, as amended. As a result of the sale, the Company eliminated approximately $112
million in debt and payables related to Solis activities and improved shareholders’ equity by approximately $51 million. Solis accounted
for 98% and 54% of group revenues for the years ended December 31, 2024 and 2023, respectively.

The sale of these entities
and exit of this market represented a strategic shift for the Company that has a major effect on the Company’s operations and financial
results. Results of operations, financial position,