| Energy Assets, Net |
ENERGY ASSETS, NETEnergy assets, net consisted of the following:
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March 31, 2022 |
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December 31, 2021 |
Energy assets (1)
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$ |
1,184,314 |
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$ |
1,120,712 |
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| Less - accumulated depreciation and amortization |
(276,308) |
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(264,181) |
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| Energy assets, net |
$ |
908,006 |
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$ |
856,531 |
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(1) Includes financing lease assets (see Note 6), capitalized interest and Asset retirement obligations (“ARO”) assets (see tables below). |
The following table sets forth our depreciation and amortization expense on energy assets, net of deferred grant amortization:
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Three Months Ended March 31, |
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| Location |
2022 |
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2021 |
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Cost of revenues (2)
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$ |
11,806 |
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$ |
9,686 |
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(2) Includes depreciation and amortization on financing lease assets (see Note 6). |
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The following table presents the interest costs relating to construction financing during the period of construction, which were capitalized as part of energy assets, net:
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Three Months Ended March 31, |
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2022 |
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2021 |
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| Capitalized interest |
$ |
1,312 |
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$ |
2,238 |
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The following tables sets forth information related to our ARO assets and ARO liabilities:
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Location |
March 31, 2022 |
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December 31, 2021 |
| ARO assets, net |
Energy assets, net |
$ |
2,473 |
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$ |
1,939 |
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| ARO liabilities, current |
Accrued expenses and other current liabilities |
$ |
9 |
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$ |
6 |
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| ARO liabilities, non-current |
Other liabilities |
2,947 |
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|
2,342 |
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| Total ARO liabilities |
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$ |
2,956 |
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$ |
2,348 |
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Three Months Ended March 31, |
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2022 |
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2021 |
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| Depreciation expense of ARO assets |
$ |
37 |
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$ |
23 |
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| Accretion expense of ARO liabilities |
$ |
36 |
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$ |
24 |
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