Project assets as of April 30, 2024 and October 31, 2023 consisted of the following (in thousands): | | | | | | | | | | | April 30, | | October 31, | | Estimated | | | 2024 | | 2023 | | Useful Life | Project Assets – Operating | | $ | 308,603 | | $ | 213,753 | | 4-20 years | Accumulated depreciation | | | (53,006) | | | (46,263) | | | Project Assets – Operating, net | | | 255,597 | | | 167,490 | | | Project Assets – Construction in progress | | | 1,010 | | | 90,576 | | | Project Assets, net | | $ | 256,607 | | $ | 258,066 | | |
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