Project debt (Tables)

12 Months Ended

Dec. 31, 2018

The variations for 2018 and 2017 of project debt have been the following:

	Project debt - long term			Project debt - short term			Total
Balance as of December 31, 2017		5.228.917			246.291			5.475.208
Increases		105,466			288,541			393,007
Decreases		(98,450	)		(522,317	)		(620,767	)
First time application of IFRS 9 (Note 2)		(39,599	)		-			(39,599	)
Debt refinancing IFRS 9 impact		(36,642	)		-			(36,642	)
Change in the scope of the consolidated financial statements (Note 5)		79,016			2,346			81,362
Currency translation differences		(150,019	)		(12,436	)		(162,455	)
Reclassifications		(262,030	)		262,030			-
Balance as of December 31, 2018		4,826,659			264,455			5,091,114

	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

Repayment schedule for project debt

The repayment schedule for Project debt in accordance with the financing arrangements, at the end of 2018 is as follows and is consistent with the projected cash flows of the related projects.

2019				2020		2021		2022		2023		Subsequent years		Total
Interest Repayment		Nominal repayment
	21,916		242,538		257,012		268,625		299,840		326,413		3,674,770		5,091,114

Movement in project debt

The following table details the movement in Project debt for the year 2018, split between cash and non-cash items:

		January 1, 2018				Cash Flow				Non-cash changes				December 31, 2018
Project debt			5,475,208				(579,598	)			195,504				5,091,114

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	2018		2017
Euro		2,049,892		2,286,771
Algerian Dinar		29,545		35,093
Rand		384,915		456,179
Total		2,464,352		2,778,043