Edisun Power Europe Ltd. Corporate Governance Report 2010 ...

All amounts are in 000 CHF if not otherwise noted
6 Land, Plants and Equipment
Consolidated Financial Statements
Land PV Plants FF&E Total
Year ended December 31, 2010
Opening net book amount 1 421 59 126 33 60 580
Exchange differences -231 -6 719 0 -6 950
Additions 0 9 027 0 9 027
Disposals 0 -2 153 0 -2 153
Depreciation charge 0 -2 042 -21 -2 063
Impairment 0 -728 0 -728
Closing net book amount 1 190 56 511 12 57 713
At December 31, 2010
Cost or valuation 1 190 61 552 99 62 841
Accumulated depreciation 0 -5 041 -87 -5 128
Net book amount 1 190 56 511 12 57 713
Year ended December 31, 2009
Opening net book amount 1 422 39 726 20 41 168
Exchange differences -1 -275 0 -276
Additions 0 21 463 38 21 501
Disposals 0 0 0 0
Depreciation charge 0 -1 788 -25 -1 813
Closing net book amount 1 421 59 126 33 60 580
At December 31, 2009
Cost 1 421 62 595 99 64 115
Accumulated depreciation 0 -3 469 -66 -3 535
Net book amount 1 421 59 126 33 60 580
The Company issued invoices for grants of TCHF 0 in
financial year 2010 (2009: TCHF 260).
The amount of assets under construction included in PV
plants in 2010 is TCHF 8 266 (2009: TCHF 17 665).
Third-party loans are secured by PV plants belonging to
the Group. See note 14.
In 2010 borrowing costs of CHF 0.3 million (2009: CHF 0.6
million) were capitalized. The capitalization rate used to
determine the amount of borrowing costs eligible for
capitalization is 4.25% (2009: 4.25%).
An impairment of CHF 0.7 million (2009: CHF 0) was
booked in 2010. This was occasioned by stopped projects
in Spain and France and the impairment of photovoltaic
components bought in prior years for use on new projects.
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