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SEC Filings

10-K
TERRAFORM GLOBAL, INC. filed this Form 10-K on 12/21/2016
Entire Document
 

Renova in connection with the Renova Transaction, and claims for common law fraud and securities fraud in connection with the Salvador and Bahia transactions.
Initial Accounting for the 2015 Acquisitions
The acquisition accounting for the Honiton, NSM 24, Witkop/Soutpan, and Renova - Bahia/Salvador acquisitions was completed as of the fourth quarter of 2015, at which point the provisional fair values became final.

The final fair value of assets and liabilities pertaining to the Honiton acquisition reflects the following changes from the initial opening balance sheet: a decrease of $0.4 million in power plants, and a decrease of $0.4 million in accrued expenses and other current liabilities.

The final fair value of assets and liabilities pertaining to the NSM 24 acquisition reflects the following changes from the initial opening balance sheet; an increase of $2.1 million in cash and cash equivalents, a decrease of $2.1 million in restricted cash, an increase of $0.5 million in accounts receivable, a decrease of $18.0 million in power plants, an increase of $17.8 million in intangible assets, a decrease of $0.1 million in deferred tax liabilities and an increase of $0.5 million in long-term debt.

The final fair value of assets, liabilities, and non-controlling interest pertaining to the Witkop/Soutpan acquisition reflects the following changes from the initial opening balance sheet; a decrease in cash and cash equivalents of $0.1 million, an increase in restricted cash of $0.6 million, a decrease of $1.4 million in power plants, a decrease of $18.1 million in intangible assets, a decrease of $0.3 million in other assets, a decrease of $2.3 million in accrued expenses and other current liabilities, a decrease of $2.9 million in deferred tax liabilities, a decrease of $8.9 million in long-term debt and a decrease of $5.4 million in non-controlling interest.

The final fair value of assets and liabilities pertaining to the Renova - Bahia/Salvador acquisition reflects the following changes from the initial opening balance sheet; a decrease in cash and cash equivalents of $4.0 million, an increase in restricted cash of $0.1 million, a decrease of $3.5 million in accounts receivable, a decrease of $2.7 million in power plants, an increase of $8.7 million in other assets, a decrease of $0.9 million in accrued expenses and other current liabilities, and a decrease of $0.4 million in long-term debt.

The net sales and net income (loss) related to the foregoing acquisitions are reflected in the accompanying consolidated statements of operations for the year ended December 31, 2015 as shown below.
 
Year Ended December 31, 2015
(In thousands)
Honiton
 
NSM 24
 
Witkop / Soutpan
 
Renova (Salvador / Bahia)
Net sales
$
12,298

 
$
2,235

 
$
13,906

 
18,910

Net income (loss)
504

 
(165
)
 
3,206

 
5,245

FERSA
On October 7, 2015, the Company completed the acquisition of three Indian wind power plants, Bhakrani, Gadag and Hanumanhatti (the “FERSA Projects”), which represent 101.6 MW of aggregate net capacity, from Fersa Energias Renovables, S.A. (“FERSA”), a Spanish wind developer. The aggregate consideration paid for the FERSA Projects was approximately $72.4 million, which includes the repayment of project level indebtedness of $39.0 million.


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