Note 8 - Intangible Assets

12 Months Ended

Dec. 31, 2014

Disclosure Text Block [Abstract]

Intangible Assets Disclosure [Text Block]

NOTE 8 — INTANGIBLE ASSETS

Intangible assets amounting to $28,655,000 and $31,933,000 consist mainly of the Company’s power purchase agreements (“PPAs”) acquired in business combinations, net of accumulated amortization of $35,170,000 and $31,890,000, as of December 31, 2014 and 2013, respectively. Amortization expense for the years ended December 31, 2014, 2013, and 2012 amounted to $3,280,000, $3,280,000, and $3,289,000, respectively. In 2014 and 2013, there were no additions or disposals for intangible assets.

Estimated future amortization expense for the intangible assets as of December 31, 2014 is as follows:

	(Dollars in thousands)
Year ending December 31:
2015	$	3,280
2016		3,280
2017		2,944
2018		2,814
2019		2,743
Thereafter		13,594
Total	$	28,655

Termination fee

Fees to terminate PPAs are recognized in period incurred as selling and marketing expenses. During 2014, no termination fees were incurred. During 2013, the Company finalized the agreement with Southern California Edison Company (“Southern California Edison”), by which the G1 and G3 Standard Offer #4 PPAs were terminated and a termination fee of $9.0 million was incurred. In addition, an amount of $2.6 million was paid to NV Energy related to the termination of the Dixie Meadows power purchase agreement PPA.