Company: ALCE
Filing Date: 2025-06-06
Form Type: 10-K
Source: 0001213900-25-052242
Chunk: 1846

Company: Alternus Clean Energy, Inc.
Filing Date: 2025-06-06
Form: 10-K
Item: Item 5
Chunk 1846
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 Poland and one park in the Netherlands. As the exit of these two markets represented
a strategic shift for the Company, the assets were classified as discontinued operations in accordance with ASC 205-20. As of December
31, 2023, the Polish and Netherlands assets were classified as disposal groups held for sale. The balances and results of the Polish and
Netherlands disposal groups are presented below.

The sale of the Polish assets
was finalized January 19, 2024 with a cash consideration of $59.4 million for all operating assets. In accordance with ASC 360, the company
removed the disposal group and recognized a gain of $3.4 million upon the sale, of which $0.8 million were costs associated with the sale.

The sale of the Netherlands
assets was finalized February 21, 2024 with a cash consideration of $7.1 million for all operating assets. In accordance with ASC 360,
the company removed the disposal group and recognized a loss of $1.3 million upon the sale, of which $0.5 million were costs associated
with the sale.

    As of January 19  
    As of December 31 
  
    Poland 
    2024  
    2023 

    (in thousands) 
  
    Assets: 

    Cash & cash equivalents 
    $630  
    $630 
  
    Other current assets 
     442  
     443 
  
    Property, plant, and equipment, net 
     63,107  
     63,107 
  
    Operating leases, non-current - assets 
     5,923  
     5,923 
  
    Total discontinued operations assets 
    $70,102  
    $70,103 

    Liabilities: 

    Accounts payable 
    $2,933  
    $2,935 
  
    Operating leases, current – liabilities 
     281  
     281 
  
    Other current liabilities 
     25  
     1,549 
  
    Operating leases, non-current - liabilities 
     5,798  
     5,798 
  
    Other non-current liabilities 
     985  
     985 
  
    Total discontinued operations liabilities 
    $10,022  
    $11,548 

    Net assets/(liabilities) of discontinued operations 
    $60,080  
    $58,555