| Project debt |
The variations for 2017 and 2016 of project debt have been the following:
| | | Project debt - long term | | | Project debt - short term | | | Total | | Balance as of December 31, 2016 | | | 4,629,184 | | | | 701,283 | | | | 5,330,467 | | Increases | | | 52,027 | | | | 304,707 | | | | 356,734 | | Decreases | | | (42,560 | ) | | | (509,131 | ) | | | (551,691 | ) | Currency translation differences | | | 316,646 | | | | 23,052 | | | | 339,698 | | Reclassifications | | | 273,620 | | | | (273,620 | ) | | | - | | Balance as of December 31, 2017 | | | 5,228,917 | | | | 246,291 | | | | 5,475,208 | |
| | | Project debt - long term | | | Project debt - short term | | | Total | | Balance as of December 31, 2015 | | | 3,574,464 | | | | 1,896,205 | | | | 5,470,669 | | Increases | | | 36,842 | | | | 329,434 | | | | 366,276 | | Decreases | | | - | | | | (480,969 | ) | | | (480,969 | ) | Currency translation differences | | | (64,426 | ) | | | 38,917 | | | | (25,509 | ) | Reclassifications | | | 1,082,304 | | | | (1,082,304 | ) | | | - | | Balance as of December 31, 2016 | | | 4,629,184 | | | | 701,283 | | | | 5,330,467 | |
|
| Repayment schedule for project debt |
The repayment schedule for Project debt in accordance with the financing arrangements, at the end of 2017 is as follows and is consistent with the projected cash flows of the related projects.
2018 | | | 2019 | | | 2020 | | | 2021 | | | 2022 | | | Subsequent years | | | Total | | Interest Repayment | | | Nominal repayment | | | | | | | | | | | | | | | | | | | | 21,612 | | | | 224,679 | | | | 246,471 | | | | 265,002 | | | | 280,303 | | | | 313,559 | | | | 4,123,582 | | | | 5,475,208 | |
|
| Movement in project debt |
The following table details the movement in Project debt for the year 2017, split between cash and non-cash items:
| | | January 1, 2017 | | | Cash Flow | | | Non-cash changes | | | December 31, 2017 | | Project debt | | | 5,330,467 | | | | (248,472 | ) | | | 393,212 | | | | 5,475,208 | |
|
| Foreign currency-denominated project debt |
The equivalent in U.S. dollars of the most significant foreign-currency-denominated debts held by the Company is as follows:
| | | Balance as of December 31, | | Currency | | 2017 | | | 2016 | | Euro | | | 2,286,771 | | | | 2,102,985 | | Algerian Dinar | | | 35,093 | | | | 41,598 | | Rand | | | 456,179 | | | | 419,708 | | Total | | | 2,778,043 | | | | 2,564,291 | |
|