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BORROWINGS (Tables)
12 Months Ended
Dec. 31, 2016
BORROWINGS  
Schedule of bank borrowings

 

 

At December 31,
2015

 

At December 31,
2016

 

 

 

$

 

$

 

Bank borrowings

 

 

1,631,858

 

 

1,960,893

 

​  

​  

​  

​  

Analysis as:

 

 

 

 

 

 

 

Short-term

 

 

961,639

 

 

902,348

 

Long-term, current portion

 

 

107,392

 

 

675,857

 

​  

​  

​  

​  

Subtotal for short-term

 

 

1,069,031

 

 

1,578,205

 

Long-term, non-current portion

 

 

562,827

 

 

382,688

 

​  

​  

​  

​  

Borrowings from non-banking institutions

 

 

131,295

 

 

132,595

 

​  

​  

​  

​  

Analysis as:

 

 

 

 

 

 

 

Short-term

 

 

53,899

 

 

 

Long-term, current portion

 

 

33,646

 

 

21,828

 

​  

​  

​  

​  

Subtotal for short-term

 

 

87,545

 

 

21,828

 

Long-term, non-current portion

 

 

43,750

 

 

110,767

 

​  

​  

​  

​  

Total

 

 

1,763,153

 

 

2,093,488

 

​  

​  

​  

​  

​  

​  

​  

​  

 

Schedule of the Company's short-term borrowings

 

 

At December 31,
2015

 

At December 31,
2016

 

 

 

$

 

$

 

Bank borrowings

 

 

 

 

 

 

 

Short-term bank borrowings secured by restricted cash

 

 

139,412

 

 

266,685

 

Short-term bank borrowings secured by inventories

 

 

12,926

 

 

46,408

 

Short-term bank borrowings secured by prepaid land use rights and property, plant and equipment

 

 

302,379

 

 

211,263

 

Short-term bank borrowings secured by project assets and solar power systems

 

 

189,222

 

 

82,079

 

Short-term borrowings secured by equity

 

 

76,837

 

 

 

Unsecured short-term borrowings

 

 

240,863

 

 

295,913

 

Long-term borrowings due within one year

 

 

 

 

 

 

 

Long-term bank borrowings due within one year secured by inventories          

 

 

46

 

 

 

Long-term borrowings due within one year secured by prepaid land use rights and property, plant and equipment          

 

 

13,327

 

 

16,919

 

Long-term borrowings due within one year secured by project assets and solar power systems

 

 

83,264

 

 

630,696

 

Long-term bank borrowings due within one year secured by equity

 

 

308

 

 

18,765

 

Unsecured long-term borrowings due within one year

 

 

10,447

 

 

9,477

 

​  

​  

​  

​  

 

 

 

1,069,031

 

 

1,578,205

 

Borrowings from non-banking institutions

 

 


 

 

 


 

 

Short-term borrowings secured by restricted cash

 

 

53,899

 

 

 

Long-term borrowings due within one year secured by project assets

 

 

32,568

 

 

2,640

 

Unsecured long-term borrowings due within one year

 

 

1,078

 

 

19,188

 

​  

​  

​  

​  

 

 

 

87,545

 

 

21,828

 

​  

​  

​  

​  

Total

 

 

1,156,576

 

 

1,600,033

 

​  

​  

​  

​  

​  

​  

​  

​  

 

Schedule of the Company's long-term borrowings

 

 

At December 31,
2015

 

At December 31,
2016

 

 

 

$

 

$

 

Bank borrowings

 

 

 

 

 

 

 

Unsecured long-term bank borrowings

 

 

10,124

 

 

 

Long-term bank borrowings secured by project assets and solar power systems

 

 

162,993

 

 

27,100

 

Long-term bank borrowings secured by property, plant and equipment

 

 

13,327

 

 

15,588

 

Long-term bank borrowings secured by equity

 

 

376,383

 

 

340,000

 

​  

​  

​  

​  

 

 

 

562,827

 

 

382,688

 

Borrowings from non-banking institutions

 

 


 

 

 


 

 

Long-term borrowings secured by project assets and solar power systems

 

 

13,745

 

 

49,767

 

Unsecured long-term borrowings

 

 

30,005

 

 

61,000

 

​  

​  

​  

​  

 

 

 

43,750

 

 

110,767

 

​  

​  

​  

​  

​  

​  

​  

​  

Total

 

 

606,577

 

 

493,455

 

​  

​  

​  

​  

​  

​  

​  

​  

 

Schedule of future principal repayments on the long-term borrowings

2017

 

 

697,685

 

2018

 

 

260,379

 

2019

 

 

198,171

 

2020

 

 

19,480

 

2021

 

 

3,460

 

Thereafter

 

 

11,965

 

​  

​  

Total

 

 

1,191,140

 

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

 

 

(697,685

)

​  

​  

Total long-term portion

 

$

493,455

 

​  

​  

​  

​  

 

Schedule of interest incurred

 

 

Years Ended December 31

 

 

 

2014

 

2015

 

2016

 

 

 

$

 

$

 

$

 

Interest capitalized—project assets

 

 

10,304

 

 

102

 

 

47,881

 

Interest capitalized—solar power systems

 

 

 

 

23,328

 

 

3,113

 

Interest capitalized—property, plant and equipment

 

 

203

 

 

912

 

 

819

 

Interest expense

 

 

48,906

 

 

54,148

 

 

69,723

 

​  

​  

​  

​  

​  

​  

Total interest incurred

 

 

59,413

 

 

78,490

 

 

121,536

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​