OTHER NON-CURRENT ASSETS

12 Months Ended

Dec. 31, 2023

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

OTHER NON-CURRENT ASSETS

NOTE 5 — OTHER NON-CURRENT ASSETS

Other non-current assets consist of the following (in thousands):

	December 31,
	2023		2022
Restricted cash	24,900		24,888
Note receivable	24,189		6,595
Right of use asset — operating leases	12,814		13,303
Investment in unconsolidated entity	6,089		6,089
Pipeline materials and rights of way	—		9,136
Permitting costs	—		916
Land lease and purchase options	$	—	$	300
Other	2,207		2,089
Total other non-current assets	$	70,199	$	63,316

Restricted Cash

Restricted cash as of December 31, 2023 and December 31, 2022, represents the cash collateralization of letters of credit associated with finance leases.

Note Receivable

In February 2023, the Company issued an amended and restated promissory note due June 14, 2031 (the “Note Receivable”) to an unaffiliated entity engaged in the development of infrastructure projects in the energy industry. The outstanding principal balance of the Note Receivable as of December 31, 2023 was approximately $24.2 million. The promissory note bears interest at a rate of 6.00%, which is capitalized into the outstanding principal balance annually.

Investment in Unconsolidated Entities

On February 24, 2022, the Company purchased 1.5 million ordinary shares of an unaffiliated entity that provides renewable energy services. The total cost of this investment was approximately $6.1 million. This investment does not provide the Company with a controlling financial interest in or significant influence over the operating or financial decisions of the unaffiliated entity. The Company’s investment was recorded at cost.

Pipeline materials and rights of way

Pipeline materials and rights of way were transferred to construction in progress in the second quarter of 2023. See Note 4, Property, Plant and Equipment.