Company: ALCE
Filing Date: 2025-06-30
Form Type: 10-Q
Source: 0001213900-25-059349
Chunk: 259

Company: Alternus Clean Energy, Inc.
Filing Date: 2025-06-30
Form: 10-Q
Item: Part I, Item 2
Chunk 259
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related to the 2024 charge.

Depreciation, amortization and accretion expenses
for discontinued operations decreased by $0.7 million for the three months ended March 31, 2025 compared to the same period in 2024 due
to all operating 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