Equipment Related to Power Purchase Agreements and Fuel Delivered to Customers, net

12 Months Ended

Dec. 31, 2020

Equipment Related to Power Purchase Agreements and Fuel Delivered to Customers, net

Equipment Related to Power Purchase Agreements and Fuel Delivered to Customers, net

9.  Equipment Related to Power Purchase Agreements and Fuel Delivered to Customers, net, as restated

Equipment related to power purchase agreements and fuel delivered to customers, net, at December 31, 2020 and 2019 consists of the following (in thousands):

			December 31, 2019
	December 31, 2020		(as restated)
Equipment related to power purchase agreements and fuel delivered to customers		92,736		81,194
Less: accumulated depreciation		(16,929)		(13,425)
Equipment related to power purchase agreements and fuel delivered to customers, net	$	75,807	$	67,769

As of December 31, 2020, the Company had deployed assets at customer sites that had associated PPAs. These PPAs expire over the next one to ten years. PPAs contain termination clauses with associated penalties, the amount of which cause the likelihood of cancellation to be remote.

Depreciation expense is $7.9 million and $6.3 million for the years ended December 31, 2020 and 2019 respectively.