|TERRAFORM GLOBAL, INC. filed this Form 10-Q on 08/09/2017|
that power plant, as applicable. Rated capacity is the expected maximum output a power plant can produce without exceeding its design limits. The size of the Company’s power generation assets varies significantly among the assets comprising the portfolio. Management believes the aggregate net capacity of the Company’s portfolio is indicative of the overall production capacity and period-to-period comparisons of net capacity are indicative of the growth rate of the Company’s business. Our power plants had a net capacity (based on our share of economic ownership) of 919.2 MW as of June 30, 2017.
Megawatt Hour Generation
Megawatt-hour (“MWh”) generation refers to the actual amount of electricity a power generator produces over a specific period. Management tracks the aggregate generation of the Company’s power generation assets as it is indicative of the periodic production of its business operations.
Gigawatt Hours Sold
Gigawatt-hours (“GWh”) sold refers to the actual volume of electricity generated and sold by the Company’s power plants during a particular period. Management tracks gigawatt-hours sold as an indicator of the ability to recognize revenue from the generation of electricity at the Company’s power plants. Our total GWh sold for the three and six months ended June 30, 2017 was 662.8 GWh and 1,201.7 GWh, respectively, as compared to 601.9 GWh and 1,107.8 GWh for the same periods in the prior year.
Consolidated Results of Operations
Three Months Ended June 30,
Six Months Ended June 30,
Operating revenues, net
Operating costs and expenses:
Cost of operations
General and administrative
Acquisition, formation and related costs
Depreciation, accretion and amortization
Total operating costs and expenses
Other expense (income):
Loss (gain) on the extinguishment of debt
Interest expense, net
Gain on foreign currency exchange
Other income, net
Total other expenses, net
(Loss) income before income tax expense
Income tax expense
Net (loss) income
Less:(loss) income attributable to non-controlling interests
Net (loss) income attributable to TerraForm Global, Inc. Class A common stockholders
In our results of operations, we define existing power plants as any power plant which was operational from the first day of the respective reporting period. Power plants acquired from a third party relate to any power plant acquired during the respective reporting period. Power plants achieving commercial operations are power plants with a commercial operation date within the respective reporting period. Alto Cielo, which was acquired on April 8, 2016, is the only non-comparable acquisition between the six months ended June 30, 2017 and 2016.