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Construction in progress
9 Months Ended
Sep. 30, 2024
Construction in progress [Abstract]  
Construction in progress
13. Construction in progress
The Company’s construction in progress activity during the nine months ended September 30, 2024 is detailed below:
September 30, 2024
Construction in progress as of December 31, 2023
$5,348,294 
Additions1,858,735 
Impact of currency translation adjustment(75,250)
Assets placed in service(80,482)
Construction in progress as of September 30, 2024
$7,051,297 
Interest expense of $346,856 and $201,890, inclusive of amortized debt issuance costs, was capitalized for the nine months ended September 30, 2024 and 2023, respectively. Recoverable taxes of $45,262 were capitalized for the nine months ended September 30, 2024 and represents non-cash addition to Construction in progress.
The Company has significant development activities in Latin America as well as the development of the Company's Fast LNG liquefaction solution. The successful completion of these development projects is subject to various risks, such as obtaining government approvals, identifying suitable sites, securing financing and permitting, and ensuring contract compliance. The Company's first Fast LNG project is currently being commissioned, and costs capitalized in Construction in progress related to this project were $3,471,389 as of September 30, 2024.