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SEC Filings
10-K
TERRAFORM POWER, INC. filed this Form 10-K on 03/15/2019
Entire Document
 

GLOSSARY OF TERMS

When the following terms and abbreviations appear in the text of this report, they have the meanings indicated below:
Adjusted EBITDA
 
Adjusted EBITDA is defined as net income (loss) plus depreciation, accretion and amortization, non-cash general and administrative costs, interest expense, income tax (benefit) expense, acquisition related expenses, and certain other non-cash charges, unusual or non-recurring items and other items that we believe are not representative of our core business or future operating performance
ASC
 
Accounting Standards Codification
ASU
 
Accounting Standards Update
Cash available for distribution or CAFD
 
Cash available for distribution is defined as Adjusted EBITDA (i) minus cash distributions paid to non-controlling interests in our renewable energy facilities, if any, (ii) minus annualized scheduled interest and project level amortization payments in accordance with the related borrowing arrangements, (iii) minus average annual sustaining capital expenditures (based on the long-sustaining capital expenditure plans) which are recurring in nature and used to maintain the reliability and efficiency of our power generating assets over our long-term investment horizon, (iv) plus or minus operating items as necessary to present the cash flows we deem representative of our core business operations.

As compared to the preceding period, we revised our definition of CAFD to (i) exclude adjustments related to deposits into and withdrawals from restricted cash accounts, required by project financing arrangements, (ii) replace sustaining capital expenditures payment made in the year with the average annualized long-term sustaining capital expenditures to maintain reliability and efficiency of our assets, and (iii) annualized debt service payments. We revised our definition as we believe it provides a more meaningful measure for investors to evaluate our financial and operating performance and ability to pay dividends.   For items presented on an annualized basis, we will present actual cash payments as a proxy for an annualized number until the period commencing January 1, 2018.

GWh
 
Gigawatt hours
HLBV
 
Hypothetical Liquidation at Book Value
IDRs
 
Incentive Distribution Rights
ISDA
 
International Swaps and Derivatives Association, Inc.
ITC
 
Investment tax credit
kWh
 
Kilowatt hours
LIBOR
 
London Inter-bank Offered Rate
MW
 
Megawatt
MWh
 
Megawatt hours
Nameplate capacity
 
Nameplate capacity represents the maximum generating capacity of a facility as expressed in (1) direct current (“DC”), for all facilities within our Solar reportable segment, and (2) alternating current (“AC”) for all facilities within our Wind and Regulated Solar and Wind reportable segments.

O&M
 
Operations and maintenance
PPA
 
As applicable, Power Purchase Agreement, energy hedge contract and/or REC or SREC contract
PTC
 
Production tax credit
REC
 
Renewable energy certificate or SREC
Renewable energy facilities
 
Solar generation facilities and wind power plants
SREC
 
Solar renewable energy certificate
U.S. GAAP
 
Accounting principles generally accepted in the United States
In this Annual Report on Form 10-K, all references to “$” are to U.S. dollars. Canadian dollars, Euros and British pounds sterling are identified as “C$”, “€”, and “£” respectively.