Company: ALCE
Filing Date: 2025-06-06
Form Type: 10-K
Source: 0001213900-25-052242
Chunk: 475

Company: Alternus Clean Energy, Inc.
Filing Date: 2025-06-06
Form: 10-K
Item: Item 1A
Chunk 475
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 2024 

    (in thousands) 

    Assets: 

    Cash & cash equivalents 
    $13 
  
    Accounts receivable, net 
     31 
  
    Other current assets 
     969 
  
    Property, plant, equipment, net 
     16,742 
  
    Operating leases, non-current assets 
     619 
  
    Other non-current assets 
     2,712 
  
    Total assets transferred to AEG 
    $21,086 

    Liabilities: 

    Due to affiliates 
    $7,163 
  
    Accounts payable 
     5,743 
  
    Short term convertible & non-convertible notes 
     15,179 
  
    Operating leases, current liabilities 
     113 
  
    Other current liabilities 
     6,125 
  
    Operating leases, non-current liabilities 
     596 
  
    Total liabilities transferred to AEG 
    $34,919 

    Net assets/(liabilities) transferred to AEG 
    $(13,833)

F-43

    21.
    Sale of Italian Operating Parks

In June 2023 the Company engaged
an Italian firm to market the Company’s operating assets in Italy. During the fourth quarter of 2023 a buyer was identified, and
the sale of the assets was finalized on December 28, 2023. The Company received a cash consideration of $17.5 million for all operating
assets. In accordance with ASC 360, the Company removed the disposal group and recognized a loss of $5.5 million upon sale on December
28, 2023, of which $0.6 million were costs associated with the sale. The balances and results of the Italian disposal group are presented
below as of December 28, 2023:

    As of December 28, 
  
    Italy 
    2023 

    (in thousands) 
  
    Assets: 

    Cash & cash equivalents 
    $100 
  
    Other current assets 
     338 
  
    Other non-current assets 
     3,819 
  
    Total assets held for sale 
    $4,257 

    Liabilities: 

    Accounts payable 
    $21 
  
    Other current liabilities 
     578 
  
    Total liabilities to be disposed of 
    $599 

    Net assets held for sale 
    $3,658