Company: ALCE
Filing Date: 2025-06-06
Form Type: 10-K
Source: 0001213900-25-052242
Chunk: 944

Company: Alternus Clean Energy, Inc.
Filing Date: 2025-06-06
Form: 10-K
Item: Item 1C
Chunk 944
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,000    8.75    0.16   Expired during the year   -    -    -   Outstanding - December 31, 2023   493,800   $280.50    4.98   Issued during the year   2,573,225    1.08    4.21   Expired during the year   -    -    -   Outstanding – December 31, 2024   3,067,025    46.07    4.85   Exercisable – December 31, 2024   3,067,025    46.07    4.85  

F-47

    23.
    Segment and Geographic Information

Effective January 1, 2024,
the Company adopted Accounting Standards Update (ASU) 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures.
This update requires disclosure of significant segment expenses regularly provided to the Chief Operating Decision Maker (CODM) and enhances
qualitative disclosures about segment operations. The adoption of this ASU did not impact the Company’s consolidated financial position,
results of operations, or cash flows.

The Company has two reportable
segments that consist of PV operations by geographical region, United States Operations and European Operations. European operations represent
our most significant business. The Chief Operating Decision-Maker (CODM) is the CEO.

Historically, the European
Segment derives revenues from three sources, Country Renewable Programs, Green Certificates and Long-term Offtake Agreements. The United
States Segment revenues are derived from Long-term Offtake Agreements. As of December 31, 2024, the Company had no revenue from discontinued
operations as the operating parks in Poland, the Netherlands, and Romania were sold. Additionally, the Company had no revenue continuing
operations as the Lightwave operating parks were sold back to the parent company, AEG, as a result of the deconsolidation of Alternus
Energy Americas Inc. on November 5, 2024.

In evaluating financial performance,
the CODM uses both gross profit and EBITDA to assess segment performance and decide how to allocate resources. However, after the sale
of Solis and its Romanian subsidiaries and the deconsolidation of Alternus Energy Americas and