Company: ALCE
Filing Date: 2025-01-27
Form Type: S-1
Source: 0001213900-25-007054
Chunk: 104

Company: Alternus Clean Energy, Inc.
Filing Date: 2025-01-27
Form: S-1
Chunk 104
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 discontinued operations decreased by $15.9 million for the year ended December 31, 2023 compared to the same period 2022. This is primarily due to an increase in impairment loss of $11.8 million, interest expense of $2.1 million, other expense of $0.2 million, tax expense of $0.1 million, loss on disposal of asset of $0.1 million and decreased revenues of $1.9 million. This was partially offset by a decrease in cost of revenues of $0.3 million. 70 Liquidity and Capital Resources A key element to the Company’s financing strategy is to raise much of its debt in the form of project specific non-recourse borrowings at its subsidiaries with investment grade metrics. Going forward, the Company intends to primarily finance acquisitions or growth capital expenditures using long-term non-recourse debt that fully amortizes within the asset’s contracted life, as well as retained cash flows from operations and issuance of equity securities through public markets. Non-GAAP Financial Measures The following table summarizes certain financial measures that are not calculated and presented in accordance with U.S. GAAP, along with the most directly comparable U.S. GAAP measure, for each period presented below. In addition to its results determined in accordance with U.S. GAAP, the Company believes the following non-U.S. GAAP financial measures are useful in evaluating its operating performance. The Company uses the following non-U.S. GAAP financial information, collectively, to evaluate its ongoing operations and for internal planning and forecasting purposes. Nine Months Ended September 30, 2024 compared to December 31, 2023. The following non-U.S. GAAP table summarizes the total capitalization and debt as of September 30, 2024 and December 31, 2023:

|                                           |     | As               
 of September 30, 
 2024             
 (in thousands)   |         |   |     | As of        
 December 31, 
 2023         |         |   |
|:------------------------------------------|:----|:-----------------|--------:|:--|:----|:-------------|--------:|:--|
| Convertible debt, secured                 |     | $                |   2,020 |   |     | $            |       - |   |
| Senior Secured debt and promissory notes  |     |                  |  31,514 |   |     |              |  32,312 |   |
|