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BORROWINGS (Tables)
12 Months Ended
Dec. 31, 2012
BORROWINGS  
Schedule of bank borrowings

 

 

 
  At December 31,
2011
  At December 31,
2012
 
 
  $
  $
 

Bank borrowings

    831,936,089     1,073,489,705  
           

Analysis as:

             

Short-term

    629,688,722     800,808,595  

Long-term, current portion

    113,998,340     17,481,257  
           

Subtotal for short-term

    743,687,062     818,289,852  

Long-term, non-current portion

    88,249,027     214,562,973  

Borrowings from non-banking financial institutions

   
   
40,636,880
 
           

Analysis as:

             

Short-term

        40,636,880  
           

Total

    831,936,089     1,073,489,705  
           

        

Schedule of components of the Company's short-term borrowings

 

 

 
  At December 31,
2011
  At December 31,
2012
 
 
  $
  $
 

Bank borrowings

             

Short-term borrowings secured by restricted cash

    74,873,390     175,289,355  

Short-term borrowings secured by inventory

    15,767,880     79,548,166  

Short-term borrowings guaranteed by Dr. Shawn Qu

    33,328,470     66,349,563  

Short-term borrowings secured by land use right and property, plant and equipment

    39,295,970     231,676,935  

Bank notes

        21,825,595  

Unsecured short-term borrowings

    466,423,012     226,118,981  

Long-term Loans due within one year

             

Secured by property, plant and equipment

    15,870,700     13,523,188  

Secured by inventory

    15,600,000      

Unsecured

    82,527,640     3,958,069  
           

Subtotal

    743,687,062     818,289,852  

Borrowings from non-banking financial institutions

             

Short-term borrowings secured by related parties

        4,781,410  

Bank notes

        35,855,470  
           

Subtotal

        40,636,880  
           

Total

    743,687,062     858,926,732  
           

        

Schedule of components of the Company's long-term bank borrowings

 

 

 
  At December 31,
2011
  At December 31,
2012
 
 
  $
  $
 

Unsecured

    4,761,210     142,969,791  

Long-term borrowings secured by land use right and property, plant and equipment

    83,487,817     71,593,182  
           

Total

    88,249,027     214,562,973  
           

        

Schedule of future principal repayment on the long-term bank loans

 

 

2013

    17,481,257  

2014

    75,732,288  

2015

    33,232,774  

2016 and after

    105,597,911  
       

Total

    232,044,230  

Less: future principal repayment related to long-term loan, current portion

    (17,481,257 )
       

Total long-term portion

  $ 214,562,973  
       

        

Schedule of interest expense

 

 

 
  Years Ended December 31  
 
  2010   2011   2012  
 
  $
  $
  $
 

Interest capitalized—project assets

            4,631,569  

Interest capitalized—property, plant and equipment

    1,686,262     4,099,815     670,374  

Interest expense

    22,164,363     43,843,586     53,304,640  
               

Total interest incurred

    23,850,625     47,943,401     58,606,583