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SEC Filings
10-K
TERRAFORM POWER, INC. filed this Form 10-K on 07/21/2017
Entire Document
 

Year Ended December 31, 2016 Compared to Year Ended December 31, 2015

Operating revenues, net for the years ended December 31, 2016 and 2015 were as follows:
 
 
Year Ended December 31,
 
 
(In thousands, other than MW data)
 
2016
 
2015
 
Change
Energy:
 
 
 
 
 
 
Solar
 
$
258,114

 
$
227,843

 
$
30,271

Wind
 
248,617

 
105,361

 
143,256

Incentives including affiliates:
 
 
 
 
 
 
Solar
 
119,374

 
118,190

 
1,184

Wind
 
28,451

 
18,112

 
10,339

Total operating revenues, net
 
$
654,556

 
$
469,506

 
$
185,050

 
 
 
 
 
 
 
GWh sold:
 
 
 
 
 
 
Solar
 
2,224.7

 
1,972.8

 
 
Wind
 
5,499.0

 
1,488.8

 
 
Total GWh sold
 
7,723.7

 
3,461.6

 
 
 
 
 
 
 
 
 
Net nameplate capacity:
 
 
 
 
 
 
Solar
 
1,451.6

 
1,399.3

 
 
Wind
 
1,531.5

 
1,531.5

 
 
Total net nameplate capacity (MW)¹
 
2,983.1

 
2,930.8

 
 
________
(1) Excludes 36.1 MW of projects which were under construction as of December 31, 2015.

Energy revenues increased by $173.5 million during the year ended December 31, 2016, compared to the same period in 2015, due to:
(In thousands)
 
Solar
 
Wind
 
Total
Acquisitions of renewable energy facilities from SunEdison in 2015 and Q1 2016
 
$
24,429

 
$
18,941

 
$
43,370

Acquisition of Northern Lights in June 2015
 
5,513

 

 
5,513

Various other third party acquisitions in 2015
 
3,338

 

 
3,338

Timing of revenue under the MA Operating Massachusetts Virtual Net Metering PPAs
 
2,478

 

 
2,478

Lower revenue in U.K. due to weakening of the GBP partially offset by growth
 
(1,929
)
 

 
(1,929
)
Acquisition of Invenergy Wind in December 2015
 

 
157,669

 
157,669

Acquisition of First Wind in January 2015
 

 
8,885

 
8,885

Amortization of revenue contracts
 
(3,036
)
 
(31,879
)
 
(34,915
)
Unrealized loss on derivatives
 

 
(10,360
)
 
(10,360
)
Other
 
(522
)
 

 
(522
)
 
 
$
30,271

 
$
143,256

 
$
173,527




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