Company: ALCE
Filing Date: 2025-11-03
Form Type: 10-Q
Source: 0001213900-25-105077
Chunk: 300

Company: Alternus Clean Energy, Inc.
Filing Date: 2025-11-03
Form: 10-Q
Item: Part I, Item 2
Chunk 300
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     (100)%

    Six Months Ended June 30, 
  
    Revenue by Offtake Type 
    2025  
    2024  
    Change  ($)  
    Change (%) 

    (in thousands) 
  
    Energy Offtake Agreements (PPA) 
    $-  
    $187  
    $(187) 
     (100)%
  
    Total for continuing operations 
    $-  
    $187  
    $(187) 
     (100)%

    Discontinued Operations: 

    Country Renewable Programs (FIT) 
    $-  
    $402  
    $(402) 
     (100)%
  
    Green Certificates 
     -  
     3,589  
     (3,589) 
     (100)%
  
    Energy Offtake Agreements (PPA) 
     -  
     1,930  
     (1,930) 
     (100)%
  
    Other Revenue 
     -  
     40  
     (40) 
     100%
  
    Total for discontinued operations 
    $-  
    $5,961  
    $(5,961) 
     (100)%
  
    Total for the period 
    $-  
    $6,148  
    $(6,148) 
     (100)%

Cost of Revenues 

The Company capitalizes its equipment costs, development
costs, engineering, and construction related costs that are deemed recoverable. The Company’s cost of revenues with regards to its
solar parks is primarily a result of the asset management, operations, and maintenance, as well as tax, insurance, and lease expenses.
Certain economic incentive programs, such as FIT regimes, generally include mechanisms that ratchet down incentives over time. As a result,
the Company seeks to connect its solar parks to the local power grids and commence operations in a timely manner to benefit from more
favorable existing incentives. Therefore, the Company generally seeks to make capital investments during times when incentives are most
favorable.

45

Cost of revenues for the three and six months
ended June 30, 2025 and 2024 were as follows:

    Three Months Ended June 30, 
  
    Cost of Revenues by Country 
    2025  
    2024  
    Change