Project debt (Tables)

12 Months Ended

Dec. 31, 2020

The variations in 2020 and 2019 of project debt have been the following:

	Project debt - long term			Project debt - short term			Total
Balance as of December 31, 2019		4,069,909			782,439			4,852,348
Increases		613,604			268,339			881,943
Decreases		(272,548	)		(552,770	)		(825,318	)
Business combinations (Note 5)		149,585			8,680			158,265
Currency translation differences		150,506			19,869			170,375
Reclassifications		214,211			(214,211	)		-
Balance as of December 31, 2020		4,925,268			312,346			5,237,614

	Project debt - long term			Project debt - short term			Total
Balance as of December 31, 2018		4,826,659			264,455			5,091,114
Increases		53,222			280,005			333,226
Decreases		(19,272	)		(516,147	)		(535,418	)
Currency translation differences		(33,718	)		(2,855	)		(36,574	)
Reclassifications		(756,981	)		756,981			-
Balance as of December 31, 2019		4,069,909			782,439			4,852,348

Repayment schedule for project debt

The repayment schedule for project debt in accordance with the financing arrangements as of December 31, 2020, is as follows and is consistent with the projected cash flows of the related projects:

2021				2022		2023		2024		2025		Subsequent years		Total
Interest repayment		Nominal repayment
	19,287		293,059		328,364		355,806		371,548		508,843		3,360,707		5,237,614

The repayment schedule for project debt in accordance with the financing arrangements and assuming there would be no acceleration of the Mojave debt, as of December 31, 2019, was as follows and was consistent with the projected cash flows of the related projects:

2020				2021		2022		2023		2024		Subsequent years		Total
Interest repayment		Nominal repayment
	12,799		256,620		262,787		293,642		319,962		335,067		3,371,724		4,852,348

Movement in project debt

The following table details the movement in Project debt for the years 2020 and 2019, split between cash and non-cash items:

Project Debt	2020			2019
Initial balance		4,852,348			5,091,114
Cash Flow		(254,495	)		(531,726	)
Non-cash changes		639,763			292,960
Final balance		5,237,614			4,852,348

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	2020		2019
Euro		2,240,811		1,882,618
South African Rand		355,414		384,313
Algerian Dinar		115,606		24,331
Total		2,711,830		2,291,262