Company: ALCE
Filing Date: 2025-06-06
Form Type: 10-K
Source: 0001213900-25-052242
Chunk: 2201

Company: Alternus Clean Energy, Inc.
Filing Date: 2025-06-06
Form: 10-K
Item: Item 7
Chunk 2201
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 subsequent event, as the rescission did not change the condition
of “control” that existed as of the acquisition date or the reporting period end. As such, no adjustments have been made to
the financial statements for the period ended December 31, 2024. The rescission will be reflected in the Company’s financial statements
in the future accounting period in which the sale or disposal criteria are met (i.e., either the first or second quarterly period of the
year ending December 31, 2025).

Development Cost

The Company depends heavily on government policies
that support our business and enhance the economic feasibility of developing and operating solar energy projects in regions in which we
operate or plan to develop and operate renewable energy facilities. The Company can decide to abandon a project if there is material change
in budgetary constraints, political factors or otherwise, governments from time to time may review their laws and policies that support
renewable energy and consider actions that would make the laws and policies less conducive to the development and operation of renewable
energy facilities. Any reductions or modifications to, or the elimination of, governmental incentives or policies that support renewable
energy or the imposition of additional taxes or other assessments on renewable energy, could result in, among other items, the lack of
a satisfactory market for the development and/or financing of new renewable energy projects, our abandoning the development of renewable
energy projects, a loss of our investments in the projects, and reduced project returns, any of which could have a material adverse effect
on our business, financial condition, results of operations and prospects. Refer to Footnote 18 to the accompanying financial statements
for more detail of development cost.

56

    Year Ended December 31,

    2024

    2023

    Change
($)

    Change
(%)

    (in thousands)

    Development Cost
     
    $
         748

    $
    360

    $
    388

    108
    %
  
    Total for continuing operations
     
    $
    748

    $
    360

    $
    388

    108
    %

    Discontinued Operations:

    Development Cost
     
    $
    -

    $
    438

    $
    (438)

    (100)
    %
  
    Total for discontinued operations
     
    $
    -

    $
    438

    $
    (438)

    (100)
    %
  
    Total for the period