| Schedule of Long-Term Debt |
The Company’s long-term debt, which consists of limited
recourse or nonrecourse indebtedness, is presented below (in
thousands):
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Interest Rate as of |
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September 30,
2014 |
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December 31,
2013 |
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September 30,
2014 |
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December 31,
2013 |
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Interest
Type |
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Maturity |
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Hatchet Ridge term loan
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$ |
232,741 |
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$ |
239,865 |
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1.43 |
% |
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|
1.43 |
% |
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Imputed |
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December 2032 |
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Gulf Wind term loan
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156,612 |
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|
166,448 |
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3.23 |
% |
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|
3.23 |
% |
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Variable |
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March 2020 |
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St. Joseph term loan
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198,572 |
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|
215,330 |
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5.88 |
% |
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5.88 |
% |
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Fixed |
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May 2031 |
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Spring Valley term loan
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169,542 |
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|
173,110 |
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2.61 |
% |
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2.63 |
% |
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Variable |
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June 2030 |
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Santa Isabel term loan
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113,128 |
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115,721 |
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4.57 |
% |
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4.57 |
% |
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Fixed |
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September 2033 |
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El Arrayan commercial term loan
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99,665 |
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— |
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3.08 |
% |
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N/A |
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Variable |
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March 2029 |
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El Arrayan EKF term loan
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109,631 |
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— |
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5.56 |
% |
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N/A |
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Fixed |
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March 2029 |
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Ocotillo commercial term loan
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222,392 |
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|
230,944 |
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2.98 |
% |
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|
3.00 |
% |
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Variable |
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August 2020 |
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Ocotillo development term loan
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107,800 |
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107,800 |
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2.33 |
% |
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2.35 |
% |
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Variable |
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August 2033 |
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1,410,083 |
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1,249,218 |
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Less: current portion
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(61,004 |
) |
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(48,851 |
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$ |
1,349,079 |
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$ |
1,200,367 |
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| Schedule of Commitment Fees Incurred and Interest Expense Recorded |
Interest and commitment fees incurred, and interest expense
recorded in the Company’s consolidated statements of
operations is as follows (in thousands):
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Three months ended September 30, |
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Nine months ended September 30, |
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2014 |
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2013 |
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2014 |
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2013 |
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Interest and commitment fees incurred
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$ |
15,938 |
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$ |
14,858 |
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$ |
43,245 |
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$ |
43,584 |
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Capitalized interest, commitment fees, and letter of credit
fees
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(440 |
) |
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(2,372 |
) |
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(2,320 |
) |
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(3,269 |
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Letter of credit fees
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|
1,103 |
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|
852 |
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|
3,256 |
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|
2,426 |
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Amortization of financing costs
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1,398 |
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|
1,357 |
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4,246 |
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5,428 |
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Interest expense
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$ |
17,999 |
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$ |
14,695 |
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$ |
48,427 |
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$ |
48,169 |
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