Company: ALCE
Filing Date: 2025-06-06
Form Type: 10-K
Source: 0001213900-25-052242
Chunk: 617

Company: Alternus Clean Energy, Inc.
Filing Date: 2025-06-06
Form: 10-K
Item: Item 1B
Chunk 617
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 convertible debt and private placement warrants issued in April and October 2024, and $0.5 million increase in
other expense due to the recognition of termination agreement with Meteora.

Total other expenses for discontinued operations
decreased by $22.8 million for the year ended December 31, 2024 compared to the same period in 2023. The primary drivers of the decrease
from 2023 is the recognition of a $11.2 million bond waiver fee for the Solis bond in 2023 that was not present for 2024, a $10.0 million
decrease in interest expense, and a $1.6 million decrease in other expense due to the write off of a Romanian receivable from 2021 expected
to be paid by the Romanian government. The proceeds from the sale of the Polish and Netherlands parks in early 2024 were used to reduce
the principal balance of the Solis Bond, resulting in lower interest expense for the rest of the year. Additionally, the interest expense
for 2024 accounts for only nine months as the Company sold Solis on October 3, 2024. Refer to Footnote 19 for additional sale information.

Income Tax

    Year Ended December 31, 

    2024  
    2023  
    Change  ($)  
    Change  (%) 

    (in thousands) 
  
    Corporate tax expense 
    $(590) 
    $(15) 
    $(575) 
     3,833%
  
    Total for continuing operations 
    $(590) 
    $(15) 
    $(575) 
     3,833%

    Discontinued Operations: 

    Corporate tax expense 
    $(87) 
    $(161) 
    $74  
     (50)%
  
    Total for discontinued operations 
    $(87) 
    $(161) 
    $74  
     (50)%
  
    Total for the period 
    $(677) 
    $(176) 
    $(501) 
     2,847%

Income tax expense for continuing operations increased
by $0.6 million for the year ended December 31, 2024 compared to the same period in 2023 due to the recognition of penalties assessed
for the late filing of the 2023 corporate tax return and late extension filing for the 2024 tax return.

Income tax expense for discontinued operations
decreased by $