Company: ALCE
Filing Date: 2025-11-03
Form Type: 10-Q
Source: 0001213900-25-105077
Chunk: 228

Company: Alternus Clean Energy, Inc.
Filing Date: 2025-11-03
Form: 10-Q
Item: Part I, Item 8
Chunk 228
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    $(125) 
     (13)%
  
    Debt issuance cost expense 
     -  
     405  
     (405) 
     100%
  
    Amortization of debt discount 
     437  
     780  
     343  
     44%
  
    Total interest expense for continuing operations 
    $1,237  
    $2,110  
    $873  
     41%

    Six Months Ended June 30, 

    2025  
    2024  
    Change  ($)  
    Change (%) 

    (in thousands) 
  
    Interest charged on debt 
    $1,602  
    $542  
    $(1,060) 
     (196)%
  
    Debt issuance cost expense 
     -  
     405  
     (405) 
     100%
  
    Amortization of debt discount 
     1,837  
     1,312  
     (525) 
     (40)%
  
    Total interest expense for continuing operations 
    $3,439  
    $2,259  
    $(1,180) 
     (52)%

50

Net Loss

Net income for continuing operations increased
by $10 million for the three ended June 30, 2025 compared to the same period in 2024. This is primarily due to a gain on sale of the MH02
and the Italian subsidiaries of $11.9 million, offset by a increase in SG&A expense of $1 million and a reduction in interest and
other expenses of $0.3 million in compared to the same period in 2024.

Net income for continuing operations increased
by $12.1 million for the six ended June 30, 2025 compared to the same period in 2024. This is primarily due to a gain on sale of the MH02
and the Italian subsidiaries and the Spanish subsidiaries for a total of $15.5 million.

Liquidity and Capital Resources

Capital Resources

A key element to the Company’s financing
strategy is to raise much of its debt in the form of project specific non-recourse borrowings at its subsidiaries with investment grade
metrics. Going forward, the Company intends to primarily finance acquisitions or growth capital expenditures using long-term non-recourse
debt that fully amortizes within the asset