Company: ALCE
Filing Date: 2025-06-30
Form Type: 10-Q
Source: 0001213900-25-059349
Chunk: 70

Company: Alternus Clean Energy, Inc.
Filing Date: 2025-06-30
Form: 10-Q
Item: Part I, Item 1
Chunk 70
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 parks in Poland, the Netherlands and Romania being sold on January 19, 2024, February 21, 2024 and October 3, 2024, respectively.

Gain on Disposal of Assets

    Three Months Ended March 31, 

    2025  
    2024  
    Change ($)  
    Change (%) 

    (in thousands) 
  
    Gain on sale of continuing operations 
    $3,589  
    $-  
    $3,589  
     100%
  
    Total for continuing operations 
     3,589  
     -  
     3,589  
     100%

    Discontinued Operations: 

    Gain on disposal of asset 
    $-  
    $3,374  
    $(3,774) 
     (100)%
  
    Costs related to disposal of asset 
     -  
     (1,224) 
     1,224  
     100%
  
    Total for discontinued operations 
    $-  
    $2,150  
    $(2,150) 
     (100)%
  
    Total for the period 
    $3,589  
    $2,150  
    $1,439  
     67%

On March 25, 2025, the Company sold its subsidiaries
in Spain for a $3.5 million gain. There were no costs incurred to complete the transaction.

On January 19, 2024, the Company sold its operating
parks in Poland with a carrying value of $55.2 million for $59.4 resulting in a $4.2 million gain partially offset by a $0.9 million loss
on sale of assets in the Netherlands. $1.6M of the cash received was held back by the seller per the SPA and recorded as a receivable
on the Consolidated Balance Sheet. On February 22, 2024, the Company sold its operating park in the Netherlands with a carrying value
of $8.0 million for $7.1 million resulting in a $0.9 million loss. The costs incurred to complete the transaction totaled $1.2 million
and are reported together with the disposal of the assets according to ASC 360-10-35-38.

43

Interest Expense, Other Income, and Other Expense

    Three Months Ended March 31,