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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, 2015 Compared to Year Ended December 31, 2014

Operating Revenues, net

Operating revenues, net for the years ended December 31, 2015 and 2014 were as follows:
 
 
Year Ended December 31,
 
 
(In thousands, other than MW data)
 
2015
 
2014
 
Change
Energy:
 
 
 
 
 
 
Solar
 
$
227,843

 
$
92,436

 
$
135,407

Wind
 
105,361

 

 
105,361

Incentives including affiliates:
 
 
 
 
 
 
Solar
 
118,190

 
34,720

 
83,470

Wind
 
18,112

 

 
18,112

Total operating revenues, net
 
$
469,506

 
$
127,156

 
$
342,350

 
 
 
 
 
 
 
GWh sold:
 
 
 
 
 
 
Solar
 
1,972.8

 
722.4

 
 
Wind
 
1,488.8

 

 
 
Total GWh sold
 
3,461.6

 
722.4

 
 
 
 
 
 
 
 
 
Net nameplate capacity (MW):
 
 
 
 
 
 
Solar
 
1,399.3

 
928.1

 
 
Wind
 
1,531.5

 

 
 
Total net nameplate capacity (MW)¹
 
2,930.8

 
928.1

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

Energy revenues increased by $240.8 million during the year ended December 31, 2015, compared to the same period in 2014, due to:
(In thousands)
 
Solar
 
Wind
 
Total
Increase in energy revenues from renewable energy facilities achieving commercial operations
 
$
40,344

 
$

 
$
40,344

Increase in energy revenues from acquisitions of renewable energy facilities from SunEdison and unaffiliated third parties
 
91,954

 
105,392

 
197,346

Amortization of revenue contracts
 
(1,083
)
 
(31
)
 
(1,114
)
Increase in existing renewable energy facility energy revenue
 
4,192

 

 
4,192

 
 
$
135,407

 
$
105,361

 
$
240,768


Incentive revenue increased by $101.6 million during the year ended December 31, 2015, compared to the same period in 2014, due to:
(In thousands)
 
Solar
 
Wind
 
Total
Increase in incentive revenues from renewable energy facilities achieving commercial operations
 
$
17,578

 
$

 
$
17,578

Increase in incentive revenues from acquisitions of renewable energy facilities from SunEdison and unaffiliated third parties
 
67,048

 
18,112

 
85,160

Decrease in existing renewable energy facility incentive revenue
 
(1,156
)
 

 
(1,156
)
 
 
$
83,470

 
$
18,112

 
$
101,582




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