| Schedule of Long Term Debt |
The Company’s debt consists of the following for periods presented below (in thousands): | | | | | | | | | | | | | | | | | | | | | | As of June 30, 2018 | | June 30, 2018 | | December 31, 2017 | | Contractual Interest Rate | | Effective Interest Rate | | | | | | | | Maturity | Corporate-level | | | | | | | | | | Revolving Credit Facility | $ | 201,000 |
| | $ | — |
| | varies |
| (1) | 3.78 | % | (1) | November 2022 | 2020 Notes | 225,000 |
| | 225,000 |
| | 4.00 | % | | 6.60 | % | | July 2020 | 2024 Notes | 350,000 |
| | 350,000 |
| | 5.88 | % | | 5.88 | % | | February 2024 | Project-level | | | | | | | | | | Fixed interest rate | | | | | | | | | | El Arrayán EKF term loan (5) | — |
| | 99,112 |
| | | | | | | Santa Isabel term loan | 102,508 |
| | 103,878 |
| | 4.57 | % | | 4.57 | % | | September 2033 | Variable interest rate | | | | | | | | | | Ocotillo commercial term loan | 287,067 |
| | 289,339 |
| | 3.83 | % | | 4.05 | % | (3) | June 2033 | El Arrayán commercial term loan (5) | — |
| | 90,102 |
| | | | | | | Spring Valley term loan | 122,125 |
| | 125,678 |
| | 4.09 | % | | 5.02 | % | (3) | June 2030 | St. Joseph term loan (2) | 161,300 |
| | 171,487 |
| | 3.40 | % | | 3.93 | % | (3) | November 2033 | Western Interconnect term loan (2) | 53,060 |
| | 54,395 |
| | 4.34 | % | | 4.33 | % | (3) | April 2027 | Meikle term loan (2) | 250,601 |
| | 266,557 |
| | 3.27 | % | | 3.92 | % | (3) | May 2024 | Futtsu term loan | 76,312 |
| | — |
| | 1.07 | % | | 1.85 | % | (3) | December 2033 | Ohorayama term loan | 98,870 |
| | — |
| | 0.87 | % | | 0.87 | % | (3) | February 2036 | Tsugaru Construction Loan | 53,837 |
| | — |
| | 0.72 | % | | 0.72 | % | (3) | March 2038 | Tsugaru Holdings Loan Agreement | 58,320 |
| | — |
| | 3.09 | % | | 3.09 | % | (3) | July 2022 | Imputed interest rate | | | | | | | | | | Hatchet Ridge financing lease obligation | 184,704 |
| | 192,079 |
| | 1.43 | % | | 1.43 | % | | December 2032 | | 2,224,704 |
| | 1,967,627 |
| | | | | | | Unamortized premium/discount, net (4) | (10,993 | ) | | (13,470 | ) | | | | | | | Unamortized financing costs | (27,385 | ) | | (23,426 | ) | | | | | | | Total debt, net | 2,186,326 |
| | 1,930,731 |
| | | | | | | | | | | | | | | | | As reflected on the consolidated balance sheets | | | | | | | | | | Revolving Credit Facility | $ | 201,000 |
| | $ | — |
| | | | | | | Current portion of long-term debt, net of financing costs | 61,583 |
| | 51,996 |
| | | | | | | Long term debt, net of financing costs | 1,923,743 |
| | 1,878,735 |
| | | | | | | Total debt, net | $ | 2,186,326 |
| | $ | 1,930,731 |
| | | | | | |
| | (1) | Refer to Revolving Credit Facility for interest rate details. |
| | (2) | The amortization for the St. Joseph term loan, the Western Interconnect term loan and the Meikle term loan are through September 2036, March 2036 and December 2038, respectively, which differs from the stated maturity date of such loans due to prepayment requirements. |
| | (3) | Includes impact of interest rate swaps. See Note 12, Derivative Instruments, for discussion of interest rate swaps. |
| | (4) | The discount relates to the 2020 Notes. |
| | (5) | As discussed in Note 4, Assets Held for Sale, as of May 21, 2018, the debt related to El Arrayán Wind is included in liabilities related to assets held for sale. |
|
| Schedule of Reconciliation of Interest Expense |
Interest and commitment fees incurred and interest expense for debt consisted of the following (in thousands): | | | | | | | | | | | | | | | | | | Three months ended June 30, | | Six months ended June 30, | | 2018 | | 2017 | | 2018 | | 2017 | Corporate-level interest and commitment fees incurred | $ | 9,555 |
| | $ | 8,497 |
| | $ | 18,220 |
| | $ | 15,612 |
| Project-level interest and commitment fees incurred | 16,892 |
| | 13,107 |
| | 31,085 |
| | 25,468 |
| Capitalized interest, commitment fees, and letter of credit fees | (1,481 | ) | | — |
| | (1,481 | ) | | — |
| Amortization of debt discount/premium, net | 1,250 |
| | 1,125 |
| | 2,477 |
| | 2,227 |
| Amortization of financing costs | 1,389 |
| | 1,994 |
| | 2,638 |
| | 3,852 |
| Other interest | 104 |
| | 116 |
| | 214 |
| | 235 |
| Interest expense | $ | 27,709 |
| | $ | 24,839 |
| | $ | 53,153 |
| | $ | 47,394 |
|
|
| Schedule of Convertible Debt |
The following table presents a summary of the equity and liability components of the 2020 Notes (in thousands): | | | | | | | | | | June 30, 2018 | | December 31,
2017 | Principal | $ | 225,000 |
| | $ | 225,000 |
| Less: |
| |
| Unamortized debt discount | (10,993 | ) | | (13,470 | ) | Unamortized financing costs | (2,249 | ) | | (2,794 | ) | Carrying value of convertible senior notes | $ | 211,758 |
| | $ | 208,736 |
| Carrying value of the equity component (1) | $ | 23,743 |
| | $ | 23,743 |
|
| | (1) | Included in the consolidated balance sheets as additional paid-in capital, net of $0.7 million in equity issuance costs. |
|