v3.25.1
DEBT (Tables)
 3 Months Ended
Mar. 31, 2025
Debt Disclosure [Abstract]  
Schedule of debt
Our debt arrangements consisted of the following (in thousands):
Loan AgreementMarch 31, 2025December 31, 2024
Trina Solar AG Note$150,000 $150,000 
Trina Solar (U.S.), Inc. Production Reserve Fee220,000 220,000 
Senior Secured Credit Facility235,000 235,000 
Convertible note - related party80,000 80,000 
Total debt principal685,000 685,000 
Less: unamortized discount(81,843)(82,723)
Total debt603,157 602,277 
Less: current portion115,492 94,367 
Noncurrent portion$487,665 $507,910 
Schedule of debt borrowing rates
As of March 31, 2025, our debt borrowing rates were as follows:
Loan AgreementInterest RateEffective Interest Rate
Trina Solar AG Note1.0%6.0%
Trina Solar (U.S.), Inc. Production Reserve—%4.9%
Senior Secured Credit Facility
SOFR plus 2.5%
7.5%
Convertible note - related party7.0%6.9%
Schedule of maturities
The aggregate maturities of long-term debt as of March 31, 2025 were as follows (in thousands):
 
Remainder of 2025
$98,367 
2026136,357 
2027141,578 
2028140,951 
2029167,747 
Thereafter — 
Total  $685,000