Note 10 - Intangible Assets and Goodwill

12 Months Ended

Dec. 31, 2016

Notes to Financial Statements

Intangible Assets Disclosure [Text Block]

NOTE

10

— INTANGIBLE ASSETS AND GOODWILL

Intangible assets

amounting to

$52.8

million and

$25.9

million consist mainly of the Company’s power purchase agreements (“PPAs”)

acquired in business combinations, net of accumulated amortization of

$42.8

million and

$38.4

million as of

December

31,

2016

and

2015,

respectively. Amortization expense for the years ended

December

31,

2016,

2015,

and

2014

amounted to

$4.4

million,

$3.3

million, and

$3.3

million, respectively. Additions of intangible assets for the years ended

December

31,

2016,

2015

and

2014,

amounted to

$33.0

million,

$0.5

million and

$0,

respectively. The addition to intangible assets in

2016

relates to the purchase of the Guadeloupe plant (Note

3).

There were

no

disposals of intangible assets in

2016,

2015

and

2014.

Estimated future amortization expense for the intangible assets as of

December

31,

2016

is as follows:

	(Dollars in thousands)
Year ending December 31:
2017	$	5,042
2018		4,912
2019		4,839
2020		4,522
2021		4,522
Thereafter		28,916
Total	$	52,753

Goodwill

Goodwill amounting to

$7.1

million was recorded as a result of the Guadeloupe power plant purchase transaction that was closed in

July

2016

(see Note

3

for more details).

During

2016,

there were

no

additions or adjustments to the carrying value of goodwill except for the impact of currency translation adjustments. The carrying value of goodwill as of

December

31,

2016

is

$6.7

million.