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SEC Filings

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

Cost of operations - affiliate increased by $4.1 million during the year ended December 31, 2015, compared to the same period in 2014, due to:
(In thousands)
 
Solar
 
Wind
 
Total
Increase in cost of operations - affiliate relating to new power plants (1)
 
$
2,570

 
$
64

 
$
2,634

Existing power plant cost of operations - affiliate and other
 
1,496

 

 
1,496

 
 
$
4,066

 
$
64

 
$
4,131

(1)
Includes third party acquisitions and dropdowns from SunEdison that reached commercial operation date during the year ended December 31, 2015.
General and Administrative Expense
General and administrative expenses for the years ended December 31, 2015 and 2014 were as follows:
 
 
Year Ended December 31,
 
 
(In thousands)
 
2015
 
2014
 
Change
General and administrative
 
$
11,603

 
$
1,349

 
$
10,254

General and administrative - affiliate
 
20,668

 
10,850

 
9,818

Total general and administrative
 
$
32,271

 
$
12,199

 
$
20,072

General and administrative expense increased by $10.3 million compared to the year ended December 31, 2014 due to:
(In thousands)
 
General and administrative
Increased corporate costs due to growth and additional costs related to being a public company
 
$
3,760

Increased project level costs related to acquiring more power plants
 
3,396

Other project level costs
 
3,098

 
 
$
10,254

General and administrative—affiliate expense increased by $9.8 million compared to the year ended December 31, 2014 due to:
(In thousands)
 
General and administrative - affiliate
Increased corporate costs due to growth and additional costs related to being a public company
 
$
9,818

Increased project level costs related to acquiring more power plants
 
$

Other project level costs
 
$

 
 
$
9,818

We have historically depended significantly on SunEdison for important corporate, project, and other services, including many management services under the MSA (such as management, secretarial, accounting, banking, treasury, administrative, regulatory and reporting functions; recommending and implementing business strategy; maintenance of books and records; calculation and payment of taxes; and preparation of audited and unaudited financial statements), as well as asset management and O&M for most of our projects. We are in the process of establishing a stand-alone organization to replace the services provided by SunEdison. We expect to incur higher costs associated with performing these services ourselves or hiring substitute providers than the fees we paid under the MSA. However, we expect to be able to continue to operate our business pursuant to contingency plans that we have been developing.
Because of this reliance on SunEdison, the SunEdison Bankruptcy has created substantial risks to our business, operations and financial condition.


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