Company: ALCE
Filing Date: 2025-06-06
Form Type: 10-K
Source: 0001213900-25-052242
Chunk: 610

Company: Alternus Clean Energy, Inc.
Filing Date: 2025-06-06
Form: 10-K
Item: Item 1B
Chunk 610
---
 same period in 2023, mainly due to the exclusion of Italian operating parks that were sold in
December 2023.

Cost of revenues for discontinued operations decreased
by $3.2 million for the year ended December 31, 2024 compared to the same period in 2023. All operating parks in Poland and the Netherlands
were sold on January 19, 2024 and February 21, 2024, respectively, resulting in a $4.0 million decrease in cost of revenues. Romanian
parks had a $0.8 million increase in operational costs driven by higher costs of energy acquisition for contracted revenues in the period.
Furthermore, the total Romanian costs of revenue for 2024 accounts for only nine months as the Company sold the Romanian operating parks
on October 3, 2024. Refer to Footnote 19 for additional sale information.

55

Selling, General, and Administrative Expenses

Selling, general, and administrative expenses
for the year ended December 31, 2024 and 2023 were as follows:

    Year Ended December 31,

    2024

    2023

    Change 
($)

    Change
(%)

    (in thousands)

    Selling, general and administrative
     
    $
    11,984

    $
    4,934

    $
    7,050

    143
    %
  
    Total for continuing operations
     
    $
    11,984

    $
    4,934

    $
    7,050

    1473
    %

    Discontinued Operations:

    Selling, general and administrative
     
    $
    1,564

    $
    6,294

    $
    (4,730)

    $
    (75)
    %
  
    Total for discontinued operations
     
    $
    1,564

    $
    6,294

    $
    (4,730)

    $
    (75)
    %
  
    Total for the period
     
    $
    13,548

    $
    11,228

    $
    2,320

    21
    %

Selling, general, and administrative expenses
for continuing operations increased by $7.1 million for the year ended December 31, 2024 compared to the same period in 2023 mainly driven
by an increase in audit, consulting, legal, and listing costs along