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Note 7 - Accounts and Notes Receivable
6 Months Ended
Jun. 30, 2014
Receivables [Abstract]  
Loans, Notes, Trade and Other Receivables Disclosure [Text Block]

7. Accounts and Notes Receivable


During 2013, the Company recognized $13.9 million of revenue under the completed-contract method and recorded a receivable of $8.8 million (originally denominated in euros) related to the sale of its Greece projects. Due to the delay in the customer receiving term financing from CDB, the receivable is currently being collected over a six year agreed upon payment schedule, plus variable interest. The difference of $5.1 million between revenue recognized and account receivable balance relates to prior payments received from the customer, which had been recorded as a customer deposit within accrued liabilities. As of June 30, 2014 and December 31, 2013, due to the extended collection period, $1.8 million and $2.2 million, respectively, of the accounts receivable was recorded as current and $6.0 million and $6.6 million, respectively, was recorded in accounts receivable, noncurrent. During the second quarter of 2013, the Company reclassified $5.9 million of existing accounts receivables from a second unrelated customer to noncurrent based on the expected collection period which is anticipated to exceed one year. As of June 30, 2014 and December 31, 2013, $1.5 million and $2.0 million, respectively, was recorded in accounts receivable, current and $5.3 million and $5.8 million, respectively, was recorded in accounts receivable, noncurrent from this second customer.


During 2013 the Company issued a note receivable to KDC for one completed contract with 15 year payment terms which began on the commercial operations date which was April 2013. The note bears interest of LIBOR plus 460bps. If the customer obtains term debt financing for their project, the collection of the note receivable may be accelerated.  As of June 30, 2014 and December 31, 2013 the balance recorded in noncurrent notes receivable related to this customer was $13.7 million.


On April 27, 2012, the Company made a secured loan of $1.0 million to Solar Hub Utilities, LLC (“Solar Hub”), to be used for pre-development costs, and recorded the amount in the account notes receivable. On June 8, 2012, the Company agreed to advance Solar Hub up to $9.0 million under a new $9.0 million secured promissory note, which refinanced the original $1.0 million advance and bore a 6% annual interest rate. In March 2013, the interest was changed to a 10% annual interest rate in accordance with the Amended and Restated Secured Promissory Note. This note receivable is secured by the project assets. Repayment in full of all borrowed amounts was due on December 31, 2012 but, in March 2013, was extended to a new maturity date of July 1, 2014 in accordance with the Amended and Restated Secured Promissory Note. As of December 31, 2013, the balance of the note receivable from Solar Hub was $8.45 million.


In the three months ended June 30, 2014, the Company entered into an agreement with Solar Hub and Hawaiian Power, LLC ("HPL") in which the Company and HPL each received a 50% membership interest in Calwaii Power Holdings, LLC ("Calwaii"). Pursuant to a Solar Development Agreement, once Solar Hub obtains consent from the applicable utility company it shall transfer each solar project to Calwaii,. In the three months ended June 30, 2014, the Company entered into an agreement with Solar Hub and Hawaiian Power, LLC ("HPL") in which the Company and HPL each received a 50% membership interest in Calwaii.


During the three months ended June 30, 2014, Solar Hub entered into an agreement with Calwaii Power Holdings, LLC ("Calwaii") in which Solar Hub exchanged the Company's note payable and Hawaiian Power, LLC’s ("HPL") note payable with Calwaii in exchange for Solar Hub's solar project asset. Calwaii is a related party of the Company. See Note 9— Investment in Affiliates. As Calwaii is a related party of the Company, the note transferred from Solar Hub to Calwaii during the three months ended June 30, 2014 is classified as a noncurrent related party note receivable at June 30, 2014. The related interest receivable from Calwaii is classified in other assets, noncurrent, related party at June 30, 2014. The Company expects Calwaii to (1) sell the project assets, (2) develop and sell the completed projects, (3) develop and operate the completed projects, or (4) carry out a combination of these options. The Company expects to be repaid by Calwaii from the cash Calwaii receives from these efforts. As of June 30, 2014, the balance of the note receivable and interest receivable from Calwaii was $8.45 million and $1.0 million, respectively.