Company: ALCE
Filing Date: 2025-06-06
Form Type: 10-K
Source: 0001213900-25-052242
Chunk: 94

Company: Alternus Clean Energy, Inc.
Filing Date: 2025-06-06
Form: 10-K
Item: Item 1
Chunk 94
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 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 18 to the accompanying financial statements
for more detail of development cost.

56

    Year Ended December 31,

    2024

    2023

    Change
($)

    Change
(%)

    (in thousands)

    Development Cost
     
    $
         748

    $
    360

    $
    388

    108
    %
  
    Total for continuing operations
     
    $
    748

    $
    360

    $
    388

    108
    %

    Discontinued Operations:

    Development Cost
     
    $
    -

    $
    438

    $
    (438)

    (100)
    %
  
    Total for discontinued operations
     
    $
    -

    $
    438

    $
    (438)

    (100)
    %
  
    Total for the period
     
    $
    748

    $
    798

    $
    (50)

    (6)
    %

Development cost increased by $0.4 million for
the year ended December 31, 2024 compared to the same period in 2023 due to final work performed for projects abandoned for the development
of renewable energy projects in Spain and the United States.

Development cost for discontinued operations decreased
by $0.4 million for the year ended December 31, 2024 compared to the same period in 2023 due to final work performed for Solis endeavors
abandoned in 2023.

Depreciation, Amortization, and Accretion Expense 

Depreciation, amortization, and accretion expenses
for the year ended December 31, 2024 and 2023 were as follows:

    Year Ended December 31, 

    2024  
    2023  
    Change
 ($)