Quarterly report pursuant to Section 13 or 15(d)

Energy Assets, Net

v3.23.2
Energy Assets, Net
 6 Months Ended
Jun. 30, 2023
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]  
Energy Assets, Net ENERGY ASSETS, NET
Energy assets, net consisted of the following:
  June 30, 2023 December 31, 2022
Energy assets (1)
$ 1,758,599  $ 1,493,913 
Less - accumulated depreciation and amortization (340,909) (312,388)
Energy assets, net $ 1,417,690  $ 1,181,525 
(1) Includes financing lease assets (see Note 7), 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:
Three Months Ended June 30, Six Months Ended June 30,
Location 2023 2022 2023 2022
Cost of revenues (2)
$ 14,384  $ 12,172  $ 27,725  $ 23,978 
(2) Includes depreciation and amortization on financing lease assets (see Note 7).
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:
Three Months Ended June 30, Six Months Ended June 30,
2023 2022 2023 2022
Capitalized interest $ 9,642  $ 2,064  $ 16,018  $ 3,908 

The following tables sets forth information related to our ARO assets and ARO liabilities:
Location June 30, 2023 December 31, 2022
ARO assets, net Energy assets, net $ 3,559  $ 2,359 
ARO liabilities, non-current Other liabilities $ 4,487  $ 3,052 

Three Months Ended June 30, Six Months Ended June 30,
2023 2022 2023 2022
Depreciation expense of ARO assets $ 53  $ 36  $ 108  $ 73 
Accretion expense of ARO liabilities $ 64  $ 36  $ 130  $ 72