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

Incentive revenue increased by $11.5 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
 
$
6,311

 
$

 
$
6,311

Primarily timing of contracting SRECs as well as pricing, volume and other differences
 
(10,920
)
 
6,777

 
(4,143
)
Lower revenue in U.K. due to weakening of the GBP partially offset by growth
 
(2,088
)
 

 
(2,088
)
Acquisition of Invenergy Wind in December 2015
 

 
2,516

 
2,516

Acquisition of First Wind in January 2015
 
648

 
1,186

 
1,834

Various other third party acquisitions in 2015
 
3,003

 

 
3,003

ITC amortization
 
5,427

 

 
5,427

Other
 
(1,197
)
 
(140
)
 
(1,337
)
 
 
$
1,184

 
$
10,339

 
$
11,523


Costs of Operations

Costs of operations for the years ended December 31, 2016 and 2015 were as follows:
 
 
Year Ended December 31,
 
 
(In thousands)
 
2016
 
2015
 
Change
Cost of operations:
 
 
 
 
 
 
Solar
 
$
27,934

 
$
30,007

 
$
(2,073
)
Wind
 
85,368

 
40,461

 
44,907

Cost of operations - affiliate:
 
 
 
 
 
 
Solar
 
22,851

 
17,943

 
4,908

Wind
 
3,832

 
1,972

 
1,860

Total cost of operations
 
$
139,985

 
$
90,383

 
$
49,602


Cost of operations increased $42.8 million during the year ended December 31, 2016, compared to the same period in 2015, due to:
(In thousands)
 
Solar
 
Wind
 
Total
Increase in cost of operations relating to acquisitions of renewable energy facilities from SunEdison and unaffiliated third parties
 
$
4,075

 
$
44,907

 
$
48,982

Existing renewable energy facility cost of operations
 
(6,148
)
 

 
(6,148
)
 
 
$
(2,073
)
 
$
44,907

 
$
42,834


Cost of operations - affiliate increased $6.8 million during the year ended December 31, 2016, compared to the same period in 2015, due to:
(In thousands)
 
Solar
 
Wind
 
Total
Increase in cost of operations - affiliate relating to acquisitions of renewable energy facilities from SunEdison and unaffiliated third parties
 
$
3,491

 
$
1,860

 
$
5,351

Existing renewable energy facility cost of operations - affiliate
 
1,417

 

 
1,417

 
 
$
4,908

 
$
1,860

 
$
6,768




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