Project debt (Tables)

12 Months Ended

Dec. 31, 2017

The variations for 2017 and 2016 of project debt have been the following:

	Project debt - long term			Project debt - short term			Total
Balance as of December 31, 2016		4,629,184			701,283			5,330,467
Increases		52,027			304,707			356,734
Decreases		(42,560	)		(509,131	)		(551,691	)
Currency translation differences		316,646			23,052			339,698
Reclassifications		273,620			(273,620	)		-
Balance as of December 31, 2017		5,228,917			246,291			5,475,208

	Project debt - long term			Project debt - short term			Total
Balance as of December 31, 2015		3,574,464			1,896,205			5,470,669
Increases		36,842			329,434			366,276
Decreases		-			(480,969	)		(480,969	)
Currency translation differences		(64,426	)		38,917			(25,509	)
Reclassifications		1,082,304			(1,082,304	)		-
Balance as of December 31, 2016		4,629,184			701,283			5,330,467

Repayment schedule for project debt

The repayment schedule for Project debt in accordance with the financing arrangements, at the end of 2017 is as follows and is consistent with the projected cash flows of the related projects.

2018			2019		2020		2021		2022		Subsequent years		Total
Interest Repayment	Nominal repayment
21,612		224,679		246,471		265,002		280,303		313,559		4,123,582		5,475,208

Movement in project debt

The following table details the movement in Project debt for the year 2017, split between cash and non-cash items:

		January 1, 2017				Cash Flow				Non-cash changes				December 31, 2017
Project debt			5,330,467				(248,472	)			393,212				5,475,208

Foreign currency-denominated project debt

The equivalent in U.S. dollars of the most significant foreign-currency-denominated debts held by the Company is as follows:

	Balance as of December 31,
Currency	2017		2016
Euro		2,286,771		2,102,985
Algerian Dinar		35,093		41,598
Rand		456,179		419,708
Total		2,778,043		2,564,291