CONSOLIDATED BALANCE SHEETS
Dec. 31, 2022
USD ($)
Dec. 31, 2021
USD ($)
Current assets:    
Cash and cash equivalents $ 107,104,714 $ 254,065,589
Restricted cash 182,544 316,777
Accounts receivable trade, net 21,670,452 34,348,925
Accounts receivable unbilled, net 43,882,041 11,473,590
Advances to suppliers 1,016,895 276,737
Value added tax receivable 5,929,157 4,600,213
Project assets, current 25,969,148 9,587,254
Prepaid expenses and other current assets, net 14,973,918 14,518,651
Total current assets 220,728,869 329,187,736
Property, plant and equipment, net 170,477,361 125,646,486
Deferred tax assets, net 0 776,261
Project assets non-current 26,589,906 6,550,583
Goodwill 1,022,567 1,022,567
Operating lease right-of-use assets 22,687,986 16,944,867
Finance lease right-of-use assets 21,669,428 24,557,562
Investment in U.S. treasury notes+ 10,046,645 0
Other non-current assets 20,627,622 24,582,137
Total assets 493,850,384 529,268,199
Current liabilities:    
Accounts payable 7,117,891 3,764,839
Advances from customers 3,640,881 81,611
Amounts due to related parties 1,475,254 9,531,450
Long-term borrowings, current portion 1,007,886  
Income tax payable 862,045 843,923
Salaries payable 539,580 339,883
Operating lease liabilities, current 1,211,706 726,842
Failed sales-leaseback and finance lease liabilities, current 9,993,277 11,366,707
Other current liabilities 17,448,789 8,443,963
Total current liabilities 43,297,309 35,099,218
Long-term borrowings 22,518,272 61,510
Operating lease liabilities, non-current 20,855,209 15,778,063
Failed sales-leaseback and finance lease liabilities, non-current 14,962,505 29,916,924
Deferred tax liabilities, non-current 3,573,146  
Total liabilities 105,206,441 80,855,715
Commitments and contingencies
Shareholders' equity    
Common shares (800,000,000 shares and 1,000,000,000 shares; no par value, authorized at December 31, 2021 and 2022; 717,316,622 shares issued and 671,510,912 shares outstanding at December 31, 2021;651,121,762 shares issued and 602,748,412 shares outstanding at December 31, 2022) 806,283,220 847,378,968
Additional paid-in capital 13,500,452 12,396,170
Treasury stock, at cost (30,904,110 and 33,471,750 shares as of December 31, 2021 and 2022, respectively) (19,999,997) (18,446,119)
Accumulated deficit (437,376,829) (432,705,128)
Accumulated other comprehensive loss (15,113,859) (4,618,323)
Emeren Group Ltd shareholders' equity 347,292,987 404,005,568
Noncontrolling interest 41,350,956 44,406,916
Total equity 388,643,943 448,412,484
Total liabilities and equity $ 493,850,384 $ 529,268,199