Company: ALCE
Filing Date: 2025-06-06
Form Type: 10-K
Source: 0001213900-25-052242
Chunk: 837

Company: Alternus Clean Energy, Inc.
Filing Date: 2025-06-06
Form: 10-K
Item: Item 1C
Chunk 837
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%
  
    United States 
     311  
     116  
     195  
     168%
  
    Total for continuing operations 
    $311  
    $3,476  
    $(3,165) 
     (91)%

    Discontinued Operations: 

    Netherlands 
    $16  
    $2,840  
    $(2,824) 
     (99)%
  
    Poland 
     106  
     7,593  
     (7,487) 
     (99)%
  
    Romania 
     9,687  
     16,608  
     (6,921) 
     (42)%
  
    Total for discontinued operations 
    $9,809  
    $27,041  
    $(17,232) 
     (64)%
  
    Total for the period 
    $10,120  
    $30,517  
    $(20,397) 
     (67)%

Revenue for continuing operations decreased by
$3.2 million for the year ended December 31, 2024 compared to the same period in 2023 as there was only one country producing revenue
in 2024 (Lightwave parks) compared to the additional 11 Italian parks that were producing revenue in 2023. Furthermore, the total revenue
for 2024 accounts for only 10 months as the Company deconsolidated Lightwave Renewables, LLC and sold 100% of its equity ownership to
AEG (parent company) on November 5, 2024. Refer to Footnote 20 for additional deconsolidation information.

Revenue for discontinued operations decreased
by $17.2 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 $10.3 million decrease in revenues. Romanian revenues
decreased by $6.9 million due to a lower volume of Green Certificates being sold in 2024 and lower energy rates obtained for energy production
in 2024. Furthermore, the total Romanian revenue for 2024 accounts for only nine months as the Company sold the Romanian operating parks
on October 3, 2024. Refer to Footnote