Company: ALCE
Filing Date: 2025-06-30
Form Type: 10-Q
Source: 0001213900-25-059349
Chunk: 35

Company: Alternus Clean Energy, Inc.
Filing Date: 2025-06-30
Form: 10-Q
Item: Part I, Item 1
Chunk 35
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    Total operating expenses 
     3,260 

    Income from discontinued operations 
     3,366 

    Other income/(expense): 

    Impairment loss recognized on the remeasurement to fair value less costs to sell 
     - 
  
    Interest expense 
     (688)
  
    Other expense 
     - 
  
    Total other expenses 
    $(688)
  
    Income/(Loss) before provision for income taxes 
    $2,678 
  
    Income taxes 
     - 
  
    Net income/(loss) from discontinued operations 
    $2,678 

    Three Months Ended
 March 31, 
  
    Netherlands 
    2024 

    (in thousands) 

    Revenues 
    $16 

    Operating Expenses 

    Cost of revenues 
     (115)
  
    Depreciation, amortization, and accretion 
     (57)
  
    Loss on disposal of asset 
     (1,187)
  
    Total operating expenses 
     (1,359)

    Income from discontinued operations 
     (1,343)

    Other income/(expense): 

    Interest expense 
     (113)
  
    Other expense 
     - 
  
    Total other expenses 
    $(113)
  
    Income/(Loss) before provision for income taxes 
    $(1,456)
  
    Income taxes 
     - 
  
    Net income/(loss) from discontinued operations 
    $(1,456)

21

On October 3, 2024, the Company
completed the sale of Solis Bond Company DAC, a company formed under the laws of Ireland and an indirect wholly owned subsidiary of the
Company, and its subsidiaries in Romania to Solis Trustee Special Vehicle Limited, the Solis Bondholders’ ownership vehicle, for
€1 in accordance with the terms of the Solis Bonds, as amended. As a result of the sale, the Company eliminated approximately $112
million in debt and payables related to Solis activities and improved shareholders’ equity by approximately $51 million. Solis accounted
for 98% and 54% of group revenues for the years ended December 31, 2024 and 2023, respectively.

The sale of these entities
and exit of this market represented a strategic shift for the Company that has a major effect on the Company’s operations and financial
results. Results of operations, financial