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Document and Entity Information - shares	3 Months Ended
Document and Entity Information - shares	Mar. 31, 2017	Jul. 31, 2017
Document Information [Line Items]
Entity Registrant Name	TerraForm Power, Inc.
Entity Central Index Key	0001599947
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Document Type	10-Q
Document Period End Date	Mar. 31, 2017
Document Fiscal Year Focus	2017
Document Fiscal Period Focus	Q1
Amendment Flag	false
Class A common stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		92,332,070
Class B common stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		48,202,310

Unaudited Condensed Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Income Statement [Abstract]
Operating revenues, net	$ 151,135	$ 153,917
Operating costs and expenses:
Cost of operations	34,338	30,196
General and administrative expenses	36,725	17,183
General and administrative expenses - affiliate	1,419	5,437
Acquisition and related costs	0	2,743
Depreciation, accretion and amortization expense	60,987	59,007
Total operating costs and expenses	139,067	121,412
Operating income	12,068	32,505
Other expenses (income):
Interest expense, net	68,312	68,994
Loss (gain) on foreign currency exchange, net	587	(4,493)
Loss on receivables - affiliate	0	845
Other expenses, net	360	567
Total other expenses, net	69,259	65,913
Loss before income tax (benefit) expense	(57,191)	(33,408)
Income tax (benefit) expense	(918)	97
Net loss	(56,273)	(33,505)
Less: Net income attributable to redeemable non-controlling interests	835	2,545
Less: Net loss attributable to non-controlling interests	(25,339)	(35,569)
Net loss attributable to Class A common stockholders	$ (31,769)	$ (481)
Weighted average number of shares:
Class A common stock - Basic and diluted (in shares)	92,072	87,833
Loss per share:
Class A common stock - Basic and diluted ($ per share)	$ (0.37)	$ (0.01)

Unaudited Condensed Consolidated Statements of Comprehensive Loss - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Statement of Comprehensive Income [Abstract]
Net loss	$ (56,273)	$ (33,505)
Foreign currency translation adjustments:
Net unrealized gain arising during the period	2,680	6,573
Hedging activities:
Net unrealized gain (loss) arising during the period, net of tax	14,054	(32,965)
Reclassification of net realized (gain) loss into earnings, net of tax	(386)	369
Other comprehensive income (loss), net of tax	16,348	(26,023)
Total comprehensive loss	(39,925)	(59,528)
Less comprehensive income (loss) attributable to non-controlling interests:
Net income attributable to redeemable non-controlling interests	835	2,545
Net loss attributable to non-controlling interests	(25,339)	(35,569)
Foreign currency translation adjustments	918	2,524
Hedging activities	5,972	(11,833)
Comprehensive loss attributable to non-controlling interests	(17,614)	(42,333)
Comprehensive loss attributable to Class A common stockholders	$ (22,311)	$ (17,195)

Unaudited Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Current assets:
Cash and cash equivalents	$ 676,768	$ 565,333
Restricted cash	115,258	114,950
Accounts receivable, net	101,740	89,461
Prepaid expenses and other current assets	61,045	61,749
Assets held for sale	42,040	61,523
Total current assets	996,851	893,016
Renewable energy facilities, net, including consolidated variable interest entities of $3,396,344 and $3,434,549 in 2017 and 2016, respectively	4,942,231	4,993,251
Intangible assets, net, including consolidated variable interest entities of $862,198 and $875,095 in 2017 and 2016, respectively	1,125,307	1,142,112
Deferred financing costs, net	6,716	7,798
Other assets	128,797	114,863
Restricted cash	2,879	2,554
Non-current assets held for sale	554,330	552,271
Total assets	7,757,111	7,705,865
Current liabilities:
Current portion of long-term debt and financing lease obligations, including consolidated variable interest entities of $591,086 and $594,442 in 2017 and 2016, respectively	2,202,661	2,212,968
Accounts payable, accrued expenses and other current liabilities, including consolidated variable interest entities of $49,607 and $37,760 in 2017 and 2016, respectively	147,434	125,596
Deferred revenue	18,250	18,179
Due to SunEdison, net	16,851	16,692
Liabilities related to assets held for sale	23,850	21,798
Total current liabilities	2,409,046	2,395,233
Long-term debt and financing lease obligations, less current portion, including consolidated variable interest entities of $371,762 and $375,726 in 2017 and 2016, respectively	1,813,749	1,737,946
Deferred revenue, less current portion	51,921	55,793
Deferred income taxes	28,362	27,723
Asset retirement obligations, including consolidated variable interest entities of $93,113 and $92,213 in 2017 and 2016, respectively	146,241	148,575
Other long-term liabilities	31,711	31,470
Non-current liabilities related to assets held for sale	413,001	410,759
Total liabilities	4,894,031	4,807,499
Redeemable non-controlling interests	180,271	180,367
Stockholders' equity:
Preferred stock, $0.01 par value per share, 50,000,000 shares authorized, no shares issued	0	0
Additional paid-in capital	1,476,492	1,467,108
Accumulated deficit	(266,209)	(234,440)
Accumulated other comprehensive income	32,370	22,912
Treasury stock, 264,836 and 253,687 shares in 2017 and 2016, respectively	(4,260)	(4,025)
Total TerraForm Power, Inc. stockholders' equity	1,239,800	1,252,957
Non-controlling interests	1,443,009	1,465,042
Total non-controlling interests and stockholders' equity	2,682,809	2,717,999
Total liabilities, non-controlling interests and stockholders' equity	7,757,111	7,705,865
Class A common stock
Stockholders' equity:
Common stock	925	920
Class B common stock
Stockholders' equity:
Common stock	482	482
Class B1 common stock
Stockholders' equity:
Common stock	$ 0	$ 0

Unaudited Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Noncurrent Assets:
Renewable energy facilities, net	$ 4,942,231	$ 4,993,251
Intangible assets, net	1,125,307	1,142,112
Current liabilities:
Current portion of long-term debt and financing lease obligations	2,202,661	2,212,968
Accounts payable, accrued expenses and other current liabilities	147,434	125,596
Noncurrent liabilities:
Long-term debt and financing lease obligations, less current portion	1,813,749	1,737,946
Asset retirement obligations	$ 146,241	$ 148,575
Stockholders' equity:
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	50,000,000	50,000,000
Preferred stock, shares issued (in shares)	0	0
Common stock, shares outstanding (in shares)	140,450,050
Treasury stock (in shares)	264,836	253,687
Consolidated Variable Interest Entities
Noncurrent Assets:
Renewable energy facilities, net	$ 3,396,344	$ 3,434,549
Intangible assets, net	862,198	875,095
Current liabilities:
Current portion of long-term debt and financing lease obligations	591,086	594,442
Accounts payable, accrued expenses and other current liabilities	49,607	37,760
Noncurrent liabilities:
Long-term debt and financing lease obligations, less current portion	371,762	375,726
Asset retirement obligations	$ 93,113	$ 92,213
Class A common stock
Stockholders' equity:
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	850,000,000	850,000,000
Common stock, shares issued (in shares)	92,512,576	92,476,776
Common stock, shares outstanding (in shares)	92,247,740	92,223,089
Class B common stock
Stockholders' equity:
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	140,000,000	140,000,000
Common stock, shares issued (in shares)	48,202,310	48,202,310
Common stock, shares outstanding (in shares)	48,202,310	48,202,310
Class B1 common stock
Stockholders' equity:
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	260,000,000	260,000,000
Common stock, shares issued (in shares)	0	0

Unaudited Condensed Consolidated Statement of Stockholders' Equity - 3 months ended Mar. 31, 2017 - USD ($)
$ in Thousands

Total

Class A Common Stock Issued

Class B Common Stock Issued

Total

Common Stock

Class A Common Stock Issued

Common Stock

Class B Common Stock Issued

Additional Paid-in Capital

Accumulated Deficit

Accumulated Other Comprehensive Income

Common Stock Held in Treasury

Total - Non-controlling Interests

Capital - Non-controlling Interests

Accumulated Deficit - Non-controlling Interests

Accumulated Other Comprehensive Loss - Non-controlling Interests

Beginning balance (in shares) at Dec. 31, 2016

92,223,089

48,202,310

92,477,000

48,202,000

(254,000)

Beginning balance at Dec. 31, 2016

$ 2,717,999

$ 1,252,957

$ 920

$ 482

$ 1,467,108

$ (234,440)

$ 22,912

$ (4,025)

$ 1,465,042

$ 1,792,295

$ (312,847)

$ (14,406)

Increase (Decrease) in Stockholders' Equity [Roll Forward]

Stock-based compensation (in shares)

36,000

(11,000)

Stock-based compensation

1,472

$ 5

1,702

$ (235)

Net loss

^[1]

(57,108)

(31,769)

(25,339)

Net SunEdison investment

5,924

3,893

2,031

Other comprehensive income

16,348

9,458

6,890

Sale of membership interests and contributions from non-controlling interests in renewable energy facilities

6,935

Distributions to non-controlling interests in renewable energy facilities

(6,535)

Accretion of redeemable non-controlling interest

(2,226)

Equity reallocation

$ 0

6,015

(6,015)

Ending balance (in shares) at Mar. 31, 2017

140,450,050

92,247,740

48,202,310

92,513,000

48,202,000

(265,000)

Ending balance at Mar. 31, 2017

$ 2,682,809

$ 1,239,800

$ 925

$ 482

$ 1,476,492

$ (266,209)

$ 32,370

$ (4,260)

$ 1,443,009

$ 1,788,711

$ (338,186)

$ (7,516)

[1]	Excludes $835 of net income attributable to redeemable non-controlling interests

Unaudited Condensed Consolidated Statement of Stockholders' Equity (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Statement of Stockholders' Equity [Abstract]
Net income attributable to redeemable non-controlling interests	$ 835	$ 2,545

Unaudited Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Cash flows from operating activities:
Net loss	$ (56,273)	$ (33,505)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation, accretion and amortization expense	60,987	59,007
Amortization of favorable and unfavorable rate revenue contracts, net	9,827	10,503
Amortization of deferred financing costs and debt discounts	4,639	8,754
Recognition of deferred revenue	(3,987)	(2,322)
Unrealized gain on commodity contract derivatives, net	(2,231)	(352)
Stock-based compensation expense	2,509	1,023
Unrealized loss (gain) on foreign currency exchange, net	748	(3,166)
Loss on receivables - affiliate	0	845
Deferred taxes	639	62
Other, net	(22)	552
Changes in assets and liabilities:
Accounts receivable	(10,982)	(14,495)
Prepaid expenses and other current assets	7,024	(2,552)
Accounts payable, accrued expenses and other current liabilities	19,858	7,366
Deferred revenue	186	(636)
Other, net	2,306	4,190
Net cash provided by operating activities	35,228	35,274
Cash flows from investing activities:
Capital expenditures	(2,076)	(31,711)
Acquisitions of renewable energy facilities from third parties, net of cash acquired	0	(4,064)
Change in restricted cash	32,730	5,638
Net cash provided by (used in) investing activities	30,654	(30,137)
Cash flows from financing activities:
Borrowings of non-recourse long-term debt	79,835	0
Principal payments on non-recourse long-term debt	(11,870)	(29,712)
Revolver repayment	(5,000)	0
Due to SunEdison, net	(4,841)	(11,614)
Sale of membership interests and contributions from non-controlling interests in renewable energy facilities	6,935	15,612
Distributions to non-controlling interests in renewable energy facilities	(9,692)	(6,172)
Net SunEdison investment	7,371	29,747
Debt financing fees	(2,791)	(4,500)
Net cash provided by (used in) financing activities	59,947	(6,639)
Net increase (decrease) in cash and cash equivalents	125,829	(1,502)
Reclassification of cash and cash equivalents to assets held for sale	(14,104)	(21,697)
Effect of exchange rate changes on cash and cash equivalents	(290)	65
Cash and cash equivalents at beginning of period	565,333	626,595
Cash and cash equivalents at end of period	676,768	603,461
Supplemental Disclosures:
Cash paid for interest	61,318	61,099
Cash paid for income taxes	$ 0	$ 0

Nature of Operations and Basis of Presentation

3 Months Ended

Mar. 31, 2017

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Nature of Operations and Basis of Presentation

NATURE OF OPERATIONS AND BASIS OF PRESENTATION

Nature of Operations

TerraForm Power, Inc. ("TerraForm Power") and its subsidiaries (together with TerraForm Power, the "Company") is a controlled affiliate of SunEdison, Inc. (together with its consolidated subsidiaries excluding the Company and TerraForm Global, Inc. and its subsidiaries, "SunEdison"). TerraForm Power is a holding company and its sole asset is an equity interest in TerraForm Power, LLC ("Terra LLC"), which through its subsidiaries owns and operates renewable energy facilities that have long-term contractual arrangements to sell the electricity generated by these facilities to third parties. The related green energy certificates, ancillary services and other environmental attributes generated by these facilities are also sold to third parties. TerraForm Power is the managing member of Terra LLC and operates, controls and consolidates the business affairs of Terra LLC.

The SunEdison Bankruptcy and the Brookfield Sponsorship Transaction

On April 21, 2016, SunEdison Inc. and certain of its domestic and international subsidiaries (the "SunEdison Debtors") voluntarily filed for protection under Chapter 11 of the U.S. Bankruptcy Code (the "SunEdison Bankruptcy"). The Company is not a part of the SunEdison Bankruptcy and has no plans to file for bankruptcy itself. The Company does not rely on SunEdison for funding or liquidity and believes that the Company will have sufficient liquidity to support its ongoing operations, absent the potential negative impact of default conditions that could arise from failure to meet financial statement deadlines as described below. The Company believes its equity interests in its renewable energy facilities that are legally owned by the Company’s subsidiaries are not available to satisfy the claims of the creditors of the SunEdison Bankruptcy.

In anticipation of and in response to SunEdison’s financial and operating difficulties, which culminated in the SunEdison Bankruptcy, at the direction of its Board of Directors (the "Board"), the Company has undertaken, and continues to undertake, a number of strategic initiatives to mitigate the adverse impacts of the SunEdison Bankruptcy on the Company. These initiatives focused on governance, operations and business performance initiatives deemed especially critical because SunEdison provided all personnel and services to the Company (other than those operational services provided by third parties). These initiatives include, among other things, developing continuity plans, establishing stand-alone information technology, accounting and other systems and infrastructure, directly hiring employees and retaining backup or replacement operation and maintenance ("O&M") and asset management services for the Company's wind and solar facilities from other providers.

As part of this overall strategic review process, the Company also initiated a process for the exploration and evaluation of potential strategic alternatives for the Company, including potential transactions to secure a new sponsor or sell the Company. This process resulted in the Company's entry into a definitive merger and sponsorship transaction agreement (the “Merger Agreement”) on March 6, 2017 with Orion US Holdings 1 L.P. ("Orion Holdings") and BRE TERP Holdings Inc., a wholly-owned subsidiary of Orion Holdings ("Merger Sub"), which are affiliates of Brookfield Asset Management, Inc. (“Brookfield”). Subject to the satisfaction of conditions precedent described below, Orion Holdings would hold approximately 51% of the Class A shares of TerraForm Power following the consummation of the merger of Merger Sub with and into the Company (the "Merger"). In addition, the Merger Agreement provides that at or prior to the closing of the Merger, the Company will enter into a series of sponsorship documents with Brookfield and certain of its affiliates as are more fully described in Note 15. Related Parties and Note 6. Long-term Debt.

Concurrently with the Company's entry into the Merger Agreement, the Company and SunEdison also entered into a settlement agreement (the “Settlement Agreement”). Under the Settlement Agreement, in connection with the closing of the Merger, SunEdison will exchange its Class B units of Terra LLC for 48,202,310 Class A shares of TerraForm Power, plus an incremental amount of Class A shares such that immediately prior to the consummation of the Merger, SunEdison will hold an aggregate number of Class A shares equal to 36.9% of the Company’s fully diluted share count. As a result of and following completion of the exchange, all of the issued and outstanding shares of Class B common stock of the Company will be redeemed and retired. In addition, also as part of the settlement, SunEdison agreed to deliver the outstanding incentive distribution rights of Terra LLC (the “IDRs”) held by SunEdison or certain of its affiliates to TerraForm Power or its designee and in connection therewith, concurrently with the execution and delivery of the Merger Agreement, TerraForm Power, Terra LLC, BRE Delaware, Inc. (the “Brookfield IDR Holder”) and SunEdison and certain of its affiliates have entered into an Incentive Distribution Rights Transfer Agreement (the “IDR Transfer Agreement”), pursuant to which certain SunEdison affiliates will transfer all of the IDRs to Brookfield IDR Holder at the effective time of the Merger. SunEdison also executed and delivered a voting and support agreement (the "Voting and Support Agreement"), pursuant to which it has agreed to vote or cause to be voted any shares of common stock of TerraForm Power held by it or any of its controlled affiliates in favor of the Merger and to take certain other actions to support the consummation of the transaction. Upon the consummation of the Merger or other transaction jointly supported by the Company and SunEdison, all agreements between the Company and the SunEdison Debtors will be rejected, subject to certain limited exceptions, and the Company will be deemed to have no damages, claims or liabilities arising from those rejections.

The closing of the Merger is subject to conditions, including a non-waivable condition to closing that the Merger Agreement and the transactions contemplated thereby be approved by holders of a majority of the outstanding Class A shares, excluding SunEdison, Orion Holdings, any of their respective affiliates or any person with whom any of them has formed (and not terminated) a “group” (as such term is defined in the Securities Exchange Act of 1934, as amended). Additional conditions include the adoption of the Merger Agreement by the holders of a majority of the total voting power of the outstanding shares of the Company’s common stock entitled to vote on the Merger and other customary closing conditions. Certain conditions have been satisfied including (1) the entry by the United States Bankruptcy Court for the Southern District of New York (the “Bankruptcy Court”) of orders authorizing and approving the entry by SunEdison (and, if applicable, SunEdison’s debtor affiliates) into the Settlement Agreement, the Voting and Support Agreement and any other agreement entered into in connection with the Merger or the other transactions contemplated thereby to which SunEdison or any other debtor will be a party, (2) the expiration or early termination of the waiting period applicable to consummation of the Merger under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, and (3) the closing of the sale of substantially all of the Company's U.K. solar facilities as described in Note 2. Assets Held for Sale. There is no financing condition to the consummation of the transactions contemplated by the Merger Agreement.

The Merger Agreement contains specified termination rights, including the right for each of the Company or Orion Holdings to terminate the Merger Agreement if the Merger is not consummated by December 6, 2017, subject to extension until March 6, 2018 to obtain required regulatory approvals. The Merger Agreement also provides for other customary termination rights for both the Company and Orion Holdings, as well as a mutual termination right in the event that the Settlement Agreement is terminated in accordance with its terms. In the event the Merger Agreement is terminated by either the Company or Orion Holdings due to the failure to obtain the requisite stockholder approvals or the termination of the Settlement Agreement, and the Board did not change its recommendation to the Company's stockholders to approve the Merger, the Company will pay to Orion Holdings all reasonable and documented out-of-pocket expenses incurred in connection with the Merger Agreement, in an amount not to exceed $17.0 million. The Merger Agreement further provides that upon termination of the Merger Agreement under certain other specified circumstances, the Company will be required to pay Orion Holdings a termination fee of $50.0 million. The Company's obligation to pay any combination of out-of-pocket expenses or termination fees shall not in any event exceed $50.0 million.

The Settlement Agreement has been approved by the Bankruptcy Court. However, the settlements, mutual release and certain other terms and conditions of the Settlement Agreement will only become effective upon the consummation of the Merger or other transaction jointly supported by the Company and SunEdison or upon a “Stand-Alone Conversion.” SunEdison may elect to effect a Stand-Alone Conversion if the Merger is not consummated due to the failure to receive the requisite stockholder vote and SunEdison is otherwise in compliance with the Settlement Agreement and the Voting and Support Agreement. Upon a Stand-Alone Conversion, SunEdison would exchange its Class B units in Terra LLC and its Class B shares in TerraForm Power for newly issued Class A common stock constituting 36.9% of the aggregate issued and outstanding Class A common stock on a fully diluted basis. SunEdison would also be required to deliver a customary voting agreement and an irrevocable proxy in customary form and substance reasonably acceptable to the Company and the holder of the Class A common stock issued to SunEdison, which may be SunEdison or a third party that receives the Class A common stock as part of a distribution in connection with SunEdison’s plan of reorganization. This voting agreement would require the applicable stockholder, for a period of one year from the date of the Stand-Alone Conversion, to vote one-half of its voting power in the same proportion of the votes cast by stockholders not a party to a similar voting agreement, which would effectively reduce the voting power of the applicable stockholder.

As part of these strategic initiatives, the Company has also been working to obtain waivers or forbearance of defaults that have arisen as a result of the SunEdison Bankruptcy and the delays in the completion of the Company’s corporate and project-level audits. In most of the Company's debt-financed projects, SunEdison Debtors are a party to a material project agreement or guarantor thereof, such as being a party to or guarantor of an asset management or O&M contract. As a result of the SunEdison Bankruptcy and delays in delivery of 2015 audited financial statements for the Company and/or certain project-level subsidiaries, among other things, the Company experienced defaults under most of its non-recourse financing agreements in 2016. During the course of 2016 and to date in 2017, the Company cured or obtained waivers or temporary forbearances with respect to most of these defaults and has transitioned, or is working to transition, the project-level services provided by SunEdison Debtors to third parties or in-house to a Company affiliate; however, certain of these defaults persist. Moreover, the Company has experienced additional defaults under most of the same non-recourse financing agreements in 2017 as the result of the failure to timely complete Company and/or project-level audits. The Company filed its Form 10-K for the year ended December 31, 2016 on July 21, 2017 and is working to complete the remaining project-level audits and seeking to obtain waivers of such default. To date none of the non-recourse financings has been accelerated and no project-level lender has notified the Company of such lenders election to enforce project security interests, although no assurances can be given that the Company will obtain waivers and/or permanent forbearance of existing or future defaults or that none of the financings will be accelerated. The Company's corporate-level revolving credit facility and senior note indentures do not include an event of default provision directly triggered by the occurrence of the SunEdison Bankruptcy.

Going Concern

The accompanying unaudited condensed consolidated financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. The financial statements do not include any adjustments that might be necessary should the Company be unable to continue as a going concern.

As described above, SunEdison filed for bankruptcy on April 21, 2016. The Company is not a part of the SunEdison Bankruptcy and has no plans to file for bankruptcy itself. The Company does not rely on SunEdison for funding or liquidity and believes that it will have sufficient liquidity to support its ongoing operations, absent the potential negative impact of default conditions that could arise from failure to meet financial statement deadlines as described below. The Company believes its equity interests in its renewable energy facilities that are legally owned by the Company's subsidiaries are not available to satisfy the claims of the creditors of the SunEdison Bankruptcy. However, we believe the SunEdison Bankruptcy and the related impacts raise substantial doubt about our ability to continue as a going concern for the following reasons:

•

Prior to the SunEdison Bankruptcy, we relied almost exclusively on the personnel and management and administration services provided by or under the direction of SunEdison. Subsequent to the SunEdison Bankruptcy, we have incurred and expect to continue to incur significant costs procuring these services from unaffiliated third parties. In addition, if we are unable to replace these services or key personnel in the future, this would restrict our ability to timely complete Company or project-level audits as required by our corporate and non-recourse financing arrangements.

•

We experienced covenant defaults under most of our financing arrangements in 2016, mainly because of delays in the delivery of project-level audited financial statements and the delay in the filing of the Company’s audited annual financial statements for 2015 on Form 10-K, which was filed in December of 2016. In addition, in a number of cases the SunEdison Bankruptcy resulted in defaults because SunEdison Debtors have been serving as O&M and asset management services providers or as guarantors under relevant contracts. We have been working diligently with our lenders to cure or waive instances of default, including through the completion of project-level audits and the retention of replacement service providers. However, there can be no assurance that all remaining defaults will be cured or waived, and we have experienced additional defaults under most of the same non-recourse financing agreements in 2017 as the result of the failure to timely complete Company and/or project-level audits. The Company filed its Form 10-K for the year ended December 31, 2016 on July 21, 2017 and is working to complete the remaining project-level audits and seeking to obtain waivers of such default. If the remaining or future defaults are not cured or waived, this would restrict the ability of the relevant project-level subsidiaries to make distributions to us, which may affect our ability to meet certain covenants related to our revolving credit facility at the corporate level, or entitle the related lenders to demand repayment or enforce their security interests, which could have a material adverse effect on our business, results of operations, financial condition and ability to pay dividends. If this were to occur, the Company would not have sufficient liquidity to meet its obligations.

•

Finally, there is a risk that an interested party in the SunEdison Bankruptcy could request that the assets and liabilities of the Company be substantively consolidated with SunEdison. Bankruptcy courts have broad equitable powers, and thus, outcomes in bankruptcy proceedings are inherently difficult to predict. To the extent the Bankruptcy Court were to determine that substantive consolidation was appropriate under the Company's facts and circumstances, the assets and liabilities of the Company could be made available to help satisfy the debt or contractual obligations of SunEdison. While it has not been requested to date and we believe there is no basis for substantive consolidation in our circumstances, we cannot assure you that substantive consolidation will not be requested in the future or that the Bankruptcy Court would not consider it.

As described above under "The SunEdison Bankruptcy and the Brookfield Sponsorship Transaction," the Company has undertaken, and continues to undertake, a number of strategic initiatives to mitigate the adverse impacts of the SunEdison Bankruptcy on the Company. While the Company believes that the actions described above are more likely than not to address the substantial doubt surrounding our ability to continue as a going concern, we cannot assert that it is probable that management's plans will fully mitigate the conditions identified. If we cannot continue as a going concern, material adjustments to the carrying values and classifications of our assets and liabilities and the reported amounts of income and expense could be required.

Basis of Presentation

The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with the Securities and Exchange Commission’s ("SEC") regulations for interim financial information. Accordingly, they do not include all of the information and notes required by U.S. generally accepted accounting principles ("U.S. GAAP") for complete financial statements. The financial statements should be read in conjunction with the accounting policies and other disclosures as set forth in the notes to the Company’s annual financial statements for the year ended December 31, 2016, filed with the SEC on Form 10-K on July 21, 2017. Interim results are not necessarily indicative of results for a full year.

In the opinion of management, the accompanying unaudited condensed consolidated financial statements contain all material adjustments consisting of normal and recurring accruals necessary to present fairly the Company's financial position as of March 31, 2017 and the results of operations, comprehensive loss and cash flows for the three months ended March 31, 2017 and 2016.

Use of Estimates

In preparing the unaudited condensed consolidated financial statements, the Company used estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities as of the date of the financial statements. Such estimates also affect the reported amounts of revenues, expenses and cash flows during the reporting period. To the extent there are material differences between the estimates and actual results, the Company's future results of operations would be affected.

Recent Accounting Developments

In May 2014, the Financial Accounting Standards Board ("FASB") issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606), which requires an entity to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers. ASU No. 2014-09 will replace most existing revenue recognition guidance in U.S. GAAP when it becomes effective. In March 2016, the FASB issued ASU No. 2016-08, Revenue from Contracts with Customers (Topic 606), Principal versus Agent Considerations (Reporting Revenue Gross versus Net), which clarifies how to apply the implementation guidance on principal versus agent considerations related to the sale of goods or services to a customer as updated by ASU No. 2014-09. ASU No. 2014-09 and ASU No. 2016-08 will become effective for the Company on January 1, 2018. Early application is permitted but not before January 1, 2017. ASU No. 2014-09 and ASU No. 2016-08 permit the use of either the retrospective or modified retrospective method. The Company is working through an adoption plan which includes the evaluation of revenue contracts compared to the new standards and evaluating the impact of the new standards on the Company's consolidated financial statements and related disclosures. The Company does not plan to adopt these standards prior to January 1, 2018.

In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842), which primarily changes the lessee's accounting for operating leases by requiring recognition of lease right-of-use assets and lease liabilities. This standard is effective for annual reporting periods beginning after December 15, 2018, with early adoption permitted. The Company is currently evaluating the effect of ASU No. 2016-02 on its consolidated financial statements.

In March 2016, the FASB issued ASU No. 2016-09, Compensation - Stock Compensation (Topic 718). This update was issued as part of the FASB's simplification initiative and affects all entities that issue share-based payment awards to their employees. The amendments in this update cover such areas as the recognition of excess tax benefits and deficiencies, the classification of those excess tax benefits on the statement of cash flows, an accounting policy election for forfeitures, the amount an employer can withhold to cover income taxes and still qualify for equity classification and the classification of those taxes paid on the statement of cash flows. This update is effective for annual and interim periods beginning after December 15, 2016, with early adoption permitted if all provisions are adopted within the same period. The Company adopted ASU No. 2016-09 as of January 1, 2017, which did not result in any material adjustments to the Company's consolidated financial statements and related disclosures.

In March 2016, the FASB issued ASU No. 2016-06, Derivatives and Hedging (Topic 815), which clarifies that determining whether the economic characteristics of a put or call are clearly and closely related to its debt host requires only an assessment of the four-step decision sequence outlined in FASB ASC paragraph 815-15-25-24. Additionally, entities are not required to separately assess whether the contingency itself is clearly and closely related. This standard is effective for annual and interim periods beginning after December 15, 2016, with early adoption permitted. The amendments in this update should be applied on a modified retrospective basis. The adoption of ASU No. 2016-06 as of January 1, 2017 did not have an impact on the Company's consolidated financial statements.

In March 2016, the FASB issued ASU No. 2016-07, Investments - Equity Method and Joint Ventures (Topic 323). The amendments of ASU No. 2016-07 eliminate the requirement that when an investment qualifies for use of the equity method as a result of an increase in the level of ownership interest or degree of influence, an investor must adjust the investment, results of operations and retained earnings retroactively on a step-by-step basis as if the equity method had been in effect during all previous periods that the investment had been held. The amendments require that the equity method investor add the cost of acquiring the additional interest in the investee to the current basis of the investor's previously held interest and adopt the equity method of accounting with no retroactive adjustment to the investment. In addition, ASU No. 2016-07 requires that an entity that has an available-for-sale equity security that becomes qualified for the equity method of accounting recognize through earnings the unrealized holding gain or loss in accumulated other comprehensive income at the date the investment becomes qualified for use of the equity method. The guidance in ASU No. 2016-07 is effective for fiscal years beginning after December 15, 2016, and interim periods within those annual periods. The adoption of ASU No. 2016-07 is required to be applied prospectively and early adoption is permitted. The Company evaluated this standard and determined that it did not have an impact on its consolidated financial statements as it does not have any equity method investments.

In August 2016, the FASB issued ASU No. 2016-15, Statement of Cash Flows (Topic 230), Classification of Certain Cash Receipts and Cash Payments. The amendments of ASU No. 2016-15 were issued to address eight specific cash flow issues for which stakeholders have indicated to the FASB that a diversity in practice existed in how entities were presenting and classifying these items in the statement of cash flows. The issues addressed by ASU No. 2016-15 include but are not limited to the classification of debt prepayment and debt extinguishment costs, payments made for contingent consideration for a business combination, proceeds from the settlement of insurance proceeds, distributions received from equity method investees and separately identifiable cash flows and the application of the predominance principle. The amendments of ASU No. 2016-15 are effective for public entities for fiscal years beginning after December 15, 2017 and interim periods in those fiscal years. Early adoption is permitted, including adoption in an interim fiscal period with all amendments adopted in the same period. The adoption of ASU No. 2016-15 is required to be applied retrospectively. The Company is currently evaluating the impact of the standard on its consolidated statements of cash flows.

In October 2016, the FASB issued ASU No. 2016-16, Income Taxes (Topic 740), Intra-Entity Transfers of Assets Other Than Inventory. The amendments of ASU No. 2016-16 were issued to improve the accounting for the income tax consequences of intra-entity transfers of assets other than inventory. Current GAAP prohibits the recognition of current and deferred income taxes for an intra-entity asset transfer until the asset has been sold to an outside party which has resulted in diversity in practice and increased complexity within financial reporting. The amendments of ASU No. 2016-16 would require an entity to recognize the income tax consequences of an intra-entity transfer of an asset other than inventory when the transfer occurs and do not require new disclosure requirements. The amendments of ASU No. 2016-16 are effective for annual reporting periods beginning after December 15, 2017, and interim periods within those annual periods. Early adoption is permitted and the adoption of ASU No. 2016-16 should be applied on a modified retrospective basis through a cumulative-effect adjustment directly to retained earnings as of the beginning of the period of adoption. The Company does not expect this standard to have an impact on its consolidated financial statements.

In October 2016, the FASB issued ASU No. 2016-17, Consolidation (Topic 810), Interests Held through Related Parties That Are under Common Control. ASU No. 2016-17 updates ASU No. 2015-02. Under the amendments, a single decision maker is not required to consider indirect interests held through related parties that are under common control with the single decision maker to be the equivalent of direct interests in their entirety. Instead, a single decision maker is required to include those interests on a proportionate basis consistent with indirect interests held through other related parties. ASU No. 2016-17 is effective for annual reporting periods beginning after December 15, 2016, and interim periods within those annual periods, with early adoption permitted. The adoption of ASU No. 2016-17 as of January 1, 2017 did not have an impact on the Company's consolidated financial statements.

In November 2016, the FASB issued ASU No. 2016-18, Statement of Cash Flows (Topic 320), Restricted Cash, a Consensus of the FASB Emerging Issues Task Force. The amendments require that a statement of cash flows explain the change during the period in the total of cash, cash equivalents and amounts generally described as restricted cash or restricted cash equivalents. Therefore, amounts generally described as restricted cash and restricted cash equivalents should be included with cash and cash equivalents when reconciling the beginning-of-period and end-of-period total amounts shown on the statement of cash flows. The amendments in this update do not provide a definition of restricted cash or restricted cash equivalents. ASU No. 2016-18 is effective for fiscal years beginning after December 15, 2017 and interim periods within those fiscal years. The Company is currently evaluating the effect of this standard on its consolidated financial statements.

In December 2016, the FASB issued ASU No. 2016-19, Technical Corrections and Improvements. The amendments cover a wide range of topics in the Accounting Standards Codification, covering differences between original guidance and the Accounting Standards Codification, guidance clarification and reference corrections, simplification and minor improvements. The adoption of ASU No. 2016-19 is effective for annual periods, including interim periods within those annual periods, beginning after December 15, 2016. The Company evaluated this standard and determined that it did not have an impact on its consolidated financial statements.

In December 2016, the FASB issued ASU No. 2016-20, Technical Corrections and Improvements to Topic 606, Revenue from Contracts with Customers. The amendments in this update are of a similar nature to the items typically addressed in ASU 2016-19, Technical Corrections and Improvements. However, the FASB decided to issue a separate update for technical corrections and improvements to Topic 606 and other Topics amended by ASU No. 2014-09 to increase stakeholders’ awareness of the proposals and to expedite improvements to ASU No. 2014-09. The adoption of ASU No. 2016-20 is effective for annual reporting periods beginning after December 15, 2017, including interim reporting periods within those annual periods. Early adoption is permitted only as of annual reporting periods beginning after December 15, 2016, including interim reporting periods within that reporting period. The Company is currently evaluating the effect of this standard on its consolidated financial statements.

In January 2017, the FASB issued ASU No. 2017-01, Business Combinations (Topic 805), Clarifying the Definition of a Business. The amendment seeks to clarify the definition of a business with the objective of adding guidance to assist entities with evaluating whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses. The definition of a business affects many areas of accounting including acquisitions, disposals, goodwill and consolidation. The adoption of ASU No. 2017-01 is effective for annual periods beginning after December 15, 2017, including interim periods within those periods. The amendments should be applied prospectively on or after the effective dates. Accordingly, the adoption will not have an effect on the Company's historical financial statements. The Company is currently evaluating the effect of this standard on future consolidated financial statements.

In January 2017, the FASB issued ASU No. 2017-04, Intangibles - Goodwill and Other (Topic 350), Simplifying the Test for Goodwill Impairment. The amendment simplifies the accounting for goodwill impairment by removing Step 2 of the current test, which requires calculation of a hypothetical purchase price allocation. Under the revised guidance, goodwill impairment will be measured as the amount by which a reporting unit’s carrying value exceeds its fair value, not to exceed the carrying amount of goodwill (currently Step 1 of the two step impairment test). Entities will continue to have the option to perform a qualitative assessment to determine if a quantitative impairment test is necessary. The standard is effective January 1, 2020, with early adoption permitted, and must be adopted on a prospective basis. This updated guidance is not currently expected to impact the Company's financial reporting as the Company does not have any goodwill.

In February 2017, the FASB issued ASU No. 2017-05, Other Income - Gains and Losses from the Derecognition of Nonfinancial Assets (Subtopic 610-20): Clarifying the Scope of Asset Derecognition Guidance and Accounting for Partial Sales of Nonfinancial Assets. This ASU is meant to clarify the scope of ASC Subtopic 610-20, Other Income - Gains and Losses from the Derecognition of Nonfinancial Assets and to add guidance for partial sales of nonfinancial assets. ASU No. 2017-05 is to be applied using a full retrospective method or a modified retrospective method as outlined in the guidance and is effective at the same time as ASU No. 2014-09. Further, the Company is required to adopt ASU No. 2017-05 at the same time that it adopts the guidance in ASU No. 2014-09. The Company is currently evaluating the effect of this standard on its consolidated financial statements.

In May 2017, the FASB issued ASU No. 2017-09, Compensation - Stock Compensation (Topic 718): Scope of Modification Accounting. The amendment clarifies when changes to the terms or conditions of a share-based payment award must be accounted for as a modification. The new guidance is expected to reduce diversity in practice and result in fewer changes to the terms of an award being accounted for as a modification. Changes to the terms or conditions of a share-based payment award that do not impact the fair value of the award, vesting conditions and the classification as an equity or liability instrument will not need to be assessed under modification accounting. The guidance is effective for annual periods, and interim periods within those annual periods, beginning after December 15, 2017. The amendments in this update should be applied prospectively to an award modified on or after the adoption date. Accordingly, the adoption will not have an effect on the Company's historical financial statements. The Company is currently evaluating the effect of this standard on future consolidated financial statements.

Assets Held for Sale

3 Months Ended

Mar. 31, 2017

Discontinued Operations and Disposal Groups [Abstract]

Assets Held for Sale

ASSETS HELD FOR SALE

U.K. Portfolio Sale

The Company commenced a sale of substantially all of its portfolio of solar power plants located in the United Kingdom (the "U.K.") through a broad based sales process pursuant to a plan approved by management during 2016 (24 operating projects for sale representing 365.0 MW, the "U.K. Portfolio"), and it was determined that this portfolio met the criteria to be classified as held for sale during the first quarter of 2016. As a result, the Company classified the assets and liabilities of this portfolio as held for sale as of March 31, 2017 and December 31, 2016 (refer to the table below) and measured each at the lower of carrying value or fair value less cost to sell. The Company's analysis indicated that the fair value less costs to sell exceeded the carrying value of the assets for each period the portfolio was classified as held for sale and no impairment losses were recognized during the three months ended March 31, 2017 or for any period in 2016.

On May 11, 2017, the Company announced that TerraForm Power Operating, LLC ("Terra Operating LLC") completed its previously announced sale of the U.K. Portfolio to Vortex Solar UK Limited, a renewable energy platform managed by the private equity arm of EFG Hermes, an investment bank. Terra Operating LLC received approximately $211 million of proceeds from the sale, net of transaction expenses and distributions taken from the U.K. Portfolio after announcement and before closing of the sale, which was used for the reduction of the Company's indebtedness as discussed in Note 6. Long-term Debt. The sale also resulted in a reduction in the Company's non-recourse project debt by approximately GBP 301 million at the U.K. Portfolio level. The Company has retained 11.1 MW of solar assets in the U.K.

Residential Portfolio Sale

The Company also began exploring a sale of substantially all of its portfolio of residential rooftop solar assets located in the United States (11.4 MW of assets as described below) through a strategic sales process in 2016, and it was determined that these assets met the criteria to be classified as held for sale during the fourth quarter of 2016. As a result, the Company classified the related assets and liabilities as held for sale as of December 31, 2016 (refer to the table below) and measured each at the lower of carrying value or fair value less costs to sell. The Company's analysis indicated that the carrying value of the assets exceeded the fair value less costs to sell, and thus an impairment charge of $15.7 million was recognized in the fourth quarter of 2016. The Company also recorded a $3.3 million charge in the third quarter of 2016 due to the decision to abandon certain residential construction in progress assets that were not completed by SunEdison as a result of the SunEdison Bankruptcy.

On March 14, 2017, Enfinity SPV Holdings 2, LLC, a subsidiary of the Company, entered into a membership interest purchase and sale agreement with Greenbacker Residential Solar II, LLC for the sale of 100% of the membership interests of Enfinity Colorado DHA 1, LLC, a Colorado limited liability company that owns and operates 2.5 MW of solar installations situated on the roof of public housing units located in Colorado and owned by the Denver Housing Authority. The transaction closed on March 31, 2017, and the Company received net proceeds of $1.1 million in the beginning of the second quarter of 2017. There was no additional loss recognized during the first quarter of 2017 as a result of this sale.

In addition, the Company entered into a membership interest purchase and sale agreement with Greenbacker Residential Solar II, LLC on June 12, 2017 for the sale of 100% of the membership interests of TerraForm Resi Solar Manager, LLC, a subsidiary of the Company, which owns and operates 8.9 MW of rooftop solar installations. The transaction closed on June 30, 2017, and the Company received total net proceeds of $6.0 million in the third quarter of 2017. The related assets and liabilities of these residential rooftop solar installations that were not sold until the second quarter of 2017 were also classified as held for sale as of March 31, 2017 (refer to the table below).

The following table summarizes the major classes of assets and liabilities which are classified as held for sale on the Company's unaudited condensed consolidated balance sheets as of March 31, 2017 and December 31, 2016:



	As of March 31, 2017						As of December 31, 2016
(In thousands)	U.K. Portfolio		Residential Portfolio		Total		U.K. Portfolio		Residential Portfolio		Total
Assets held for sale:
Cash and cash equivalents	$	14,104	$	—	$	14,104	$	—	$	—	$	—
Restricted cash	21,000		262		21,262		53,604		1,202		54,806
Accounts receivable, net	5,438		260		5,698		4,952		300		5,252
Prepaid expenses and other current assets	976		—		976		1,295		170		1,465
Total current assets held for sale	41,518		522		42,040		59,851		1,672		61,523

Renewable energy facilities, net	535,508		14,171		549,679		529,154		19,534		548,688
Intangible assets, net	1,498		—		1,498		1,480		—		1,480
Other assets	3,153		—		3,153		2,103		—		2,103
Total non-current assets held for sale	540,159		14,171		554,330		532,737		19,534		552,271

Total assets held for sale	$	581,677	$	14,693	$	596,370	$	592,588	$	21,206	$	613,794

Liabilities related to assets held for sale:
Current portion of long-term debt	$	14,684	$	—	$	14,684	$	14,510	$	175	$	14,685
Accounts payable, accrued expenses and other current liabilities	9,075		81		9,156		5,980		245		6,225
Deferred revenue	—		10		10		—		10		10
Due to SunEdison, net	—		—		—		692		186		878
Total current liabilities related to assets held for sale	23,759		91		23,850		21,182		616		21,798

Long-term debt, less current portion	353,928		—		353,928		349,687		4,190		353,877
Deferred revenue, less current portion	—		246		246		—		246		246
Asset retirement obligations	40,552		—		40,552		39,563		287		39,850
Other long-term liabilities	18,275		—		18,275		16,786		—		16,786
Total non-current liabilities related to assets held for sale	412,755		246		413,001		406,036		4,723		410,759

Total liabilities related to assets held for sale	$	436,514	$	337	$	436,851	$	427,218	$	5,339	$	432,557

Renewable Energy Facilities

3 Months Ended

Mar. 31, 2017

Property, Plant and Equipment [Abstract]

Renewable Energy Facilities

RENEWABLE ENERGY FACILITIES

Renewable energy facilities, net consists of the following:



(In thousands)	March 31, 2017			December 31, 2016
Renewable energy facilities in service, at cost	$	5,355,826		$	5,354,883
Less accumulated depreciation - renewable energy facilities	(416,512		)	(364,756		)
Renewable energy facilities in service, net	4,939,314			4,990,127
Construction in progress - renewable energy facilities	2,917			3,124
Total renewable energy facilities, net	$	4,942,231		$	4,993,251

Depreciation expense related to renewable energy facilities was $52.2 million and $49.2 million for the three months ended March 31, 2017 and 2016, respectively.

Construction in progress represents costs incurred to complete the construction of the facilities in the Company's current portfolio that were acquired from SunEdison. All construction in progress costs are stated at SunEdison's historical cost.

As of March 31, 2017 and December 31, 2016, the Company reclassified $549.7 million and $548.7 million, respectively, from renewable energy facilities, net to non-current assets held for sale in the unaudited condensed consolidated balance sheets (see Note 2. Assets Held for Sale).

Intangibles

3 Months Ended

Mar. 31, 2017

Goodwill and Intangible Assets Disclosure [Abstract]

Intangibles

INTANGIBLES

The following table presents the gross carrying amount, accumulated amortization and net book value of intangibles as of March 31, 2017:



(In thousands, except weighted average amortization period)	Weighted Average Amortization Period	Gross Carrying Amount		Accumulated Amortization			Net Book Value
Favorable rate revenue contracts	15 years	$	715,377	$	(68,915	)	$	646,462
In-place value of market rate revenue contracts	19 years	518,442		(53,667		)	464,775
Favorable rate land leases	18 years	15,800		(1,730		)	14,070
Total intangible assets, net		$	1,249,619	$	(124,312	)	$	1,125,307

Unfavorable rate revenue contracts	7 years	$	35,086	$	(11,880	)	$	23,206
Unfavorable rate O&M contracts	3 years	5,000		(1,615		)	3,385
Unfavorable rate land lease	16 years	1,000		(120		)	880
Total intangible liabilities, net		$	41,086	$	(13,615	)	$	27,471

The following table presents the gross carrying amount, accumulated amortization and net book value of intangibles as of December 31, 2016:



(In thousands, except weighted average amortization period)	Weighted Average Amortization Period	Gross Carrying Amount		Accumulated Amortization			Net Book Value
Favorable rate revenue contracts	16 years	$	714,758	$	(57,634	)	$	657,124
In-place value of market rate revenue contracts	20 years	518,003		(47,284		)	470,719
Favorable rate land leases	18 years	15,800		(1,531		)	14,269
Total intangible assets, net		$	1,248,561	$	(106,449	)	$	1,142,112

Unfavorable rate revenue contracts	7 years	$	35,086	$	(10,541	)	$	24,545
Unfavorable rate O&M contracts	3 years	5,000		(1,302		)	3,698
Unfavorable rate land lease	16 years	1,000		(107		)	893
Total intangible liabilities, net		$	41,086	$	(11,950	)	$	29,136

The Company has intangible assets related to revenue contracts, representing long-term power purchase agreements ("PPAs") and renewable energy certificate ("REC") agreements, and favorable rate land leases that were obtained through acquisitions. The revenue contract intangible assets are comprised of favorable rate PPAs and REC agreements and the in-place value of market rate PPAs. The Company also has intangible liabilities related to unfavorable rate PPAs and REC agreements, unfavorable rate O&M contracts and an unfavorable rate land lease, which are classified within other long-term liabilities in the unaudited condensed consolidated balance sheets. These intangible assets and liabilities are amortized on a straight-line basis over the remaining lives of the agreements, which range from 1 to 28 years as of March 31, 2017.

Amortization expense related to favorable rate revenue contracts is reflected in the unaudited condensed consolidated statements of operations as a reduction of operating revenues, net. Amortization related to unfavorable rate revenue contracts is reflected in the unaudited condensed consolidated statements of operations as an increase to operating revenues, net. During the three months ended March 31, 2017 and 2016, net amortization expense related to favorable and unfavorable rate revenue contracts resulted in a reduction of operating revenues, net of $9.8 million and $10.5 million, respectively.

Amortization expense related to the in-place value of market rate revenue contracts is reflected in the unaudited condensed consolidated statements of operations within depreciation, accretion and amortization expense. During the three months ended March 31, 2017 and 2016, amortization expense related to the in-place value of market rate revenue contracts was $6.4 million and $6.8 million, respectively.

Amortization expense related to favorable rate land leases is reflected in the unaudited condensed consolidated statements of operations within cost of operations. Amortization related to the unfavorable rate land lease and unfavorable rate O&M contracts is reflected in the unaudited condensed consolidated statements of operations as a reduction of cost of operations. During the three months ended March 31, 2017 and 2016, net amortization related to favorable and unfavorable rate land leases and unfavorable rate O&M contracts resulted in a $0.1 million reduction of cost of operations and $0.2 million increase to cost of operations, respectively.

- Definition

The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss.

+ References + Details

Variable Interest Entities

3 Months Ended

Mar. 31, 2017

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Variable Interest Entities

VARIABLE INTEREST ENTITIES

The Company consolidates variable interest entities ("VIEs") in renewable energy facilities when the Company is the primary beneficiary. The VIEs own and operate renewable energy facilities in order to generate contracted cash flows. The VIEs were funded through a combination of equity contributions from the owners and non-recourse project-level debt. No VIEs were deconsolidated during the three months ended March 31, 2017 and 2016.

The carrying amounts and classification of the consolidated VIEs’ assets and liabilities included in the Company's unaudited condensed consolidated balance sheets are as follows:



(In thousands)	March 31, 2017		December 31, 2016
Current assets	$	179,648	$	191,244
Non-current assets	4,315,546		4,351,635
Total assets	$	4,495,194	$	4,542,879
Current liabilities	$	645,232	$	638,452
Non-current liabilities	512,554		514,464
Total liabilities	$	1,157,786	$	1,152,916

The amounts shown in the table above exclude intercompany balances that are eliminated upon consolidation. All of the assets in the table above are restricted for settlement of the VIE obligations, and all of the liabilities in the table above can only be settled by using VIE resources.

Long-term Debt

3 Months Ended

Mar. 31, 2017

Debt Disclosure [Abstract]

Long-term Debt

LONG-TERM DEBT

Long-term debt consists of the following:



(In thousands, except rates)	March 31, 2017			December 31, 2016			Interest Type	Interest Rate (%)¹	Financing Type
Corporate-level long-term debt²:
Senior Notes due 2023	$	950,000		$	950,000		Fixed	6.38	Senior notes
Senior Notes due 2025	300,000			300,000			Fixed	6.63	Senior notes
Revolver	547,000			552,000			Variable	4.06	Revolving loan
Non-recourse long-term debt³:
Permanent financing	2,149,437			2,078,009			Blended⁴	5.91⁵	Term debt / Senior notes
Financing lease obligations	122,769			123,930			Imputed	5.63⁵	Financing lease obligations
Total principal due for long-term debt and financing lease obligations	4,069,206			4,003,939				5.81⁵
Unamortized discount, net	(14,326		)	(13,620		)
Deferred financing costs, net	(38,470		)	(39,405		)
Less current portion of long-term debt and financing lease obligations⁶	(2,202,661		)	(2,212,968		)
Long-term debt and financing lease obligations, less current portion⁷	$	1,813,749		$	1,737,946

———


(1)	As of March 31, 2017.


(2)	Corporate-level debt represents debt issued by Terra Operating LLC and guaranteed by Terra LLC and certain subsidiaries of Terra Operating LLC other than non-recourse subsidiaries as defined in the relevant debt agreements.


(3)	Non-recourse debt represents debt issued by subsidiaries with no recourse to Terra LLC, Terra Operating LLC or guarantors of the Company's corporate-level debt, other than limited or capped contingent support obligations, which in aggregate are not considered to be material to the Company's business and financial condition.


(4)	Includes variable rate debt and fixed rate debt. As of March 31, 2017, 53% of this balance had a variable interest rate and the remaining 47% of this balance had a fixed interest rate. The Company has entered into interest rate swap agreements to fix the interest rates of certain variable rate permanent financing non-recourse debt (see Note 8. Derivatives).


(5)	Represents the weighted average interest rate as of March 31, 2017.


(6)	As of March 31, 2017 and December 31, 2016, the Company reclassified $14.7 million from current portion of long-term debt and financing lease obligations to current liabilities related to assets held for sale in the unaudited condensed consolidated balance sheets (see Note 2. Assets Held for Sale).


(7)	As of March 31, 2017 and December 31, 2016, the Company reclassified $353.9 million from long-term debt and financing lease obligations, less current portion to non-current liabilities related to assets held for sale in the unaudited condensed consolidated balance sheets (see Note 2. Assets Held for Sale).

Corporate-level Long-term Debt

Revolving Credit Facility

In conjunction with a consent agreement that Terra Operating LLC entered into in September of 2016 with the Administrative Agent and other parties to the Revolver, which provided consent for the cross-collateralization of certain utility-scale assets located in Canada owned by subsidiaries of the Company, and as a result of the Company's election in February of 2017 to increase the principal amount of the credit facility described in the "Canada project-level financing" section below, Terra Operating LLC repaid an additional $5.0 million of Revolver indebtedness on March 6, 2017 and permanently reduced the revolving commitments and borrowing capacity by such amount.

The terms of the Revolver require the Company to provide audited annual financial statements within 90 days after the end of the fiscal year, with a 10-business day cure period. On April 5, 2017, Terra Operating LLC entered into a tenth amendment to the terms of the Revolver, which provided that the date on which the Company must deliver to the Administrative Agent and other parties to the Revolver its annual financial statements and accompanying audit report with respect to fiscal year 2016 and its financial plan for fiscal year 2017 would be extended to April 28, 2017.

On April 26, 2017, the Company entered into an eleventh amendment to the terms of the Revolver, which further extended the due date for delivery of its 2016 annual financial statements and accompanying audit report to the earlier of (a) July 15, 2017 and (b) the tenth business day prior to the date on which the failure to deliver such financial statements would constitute an event of default under the indenture dated as of January 28, 2015 (as supplemented) with respect to the Senior Notes due 2023 (the "2023 Indenture"). As discussed below, an event of default would not have occurred under the 2023 Indenture until July 31, 2017. The Company's Form 10-K for the year ended December 31, 2016 was filed within the 10-business day cure period that commenced on July 15, 2017, and consequently no event of default occurred under the Revolver with respect to the 2016 10-K filing. The amendment also extended the due date for delivery to the Administrative Agent and other parties to the Revolver for the Company's financial statements and accompanying information with respect to the fiscal quarter ended March 31, 2017 to July 31, 2017 and with respect to the fiscal quarters ending June 30, 2017 and September 30, 2017 to the date that is 75 days after the end of each such fiscal quarter, with a 10-business day cure period for each quarterly deliverable.

The eleventh amendment also amended the Debt Service Coverage Ratio (as defined therein) applicable to the fourth quarter of 2016 and first, second and third quarters of 2017 from 1.75:1.00 to 1.50:1.00 and amended the Leverage Ratio (as defined therein) applicable to the fourth quarter of 2016 from 6.00:1.00 to 6.50:1.00 and applicable to the first, second and third quarters of 2017 from 5.75:1.00 to 6.50:1.00. In addition, the amendment amended the definitions of Debt Service Coverage Ratio and Leverage Ratio to provide for, in each case, certain pro forma treatment of the repayment or refinancing of Non-Recourse Project Indebtedness (as defined therein) net of any new Non-Recourse Project Indebtedness incurred in connection with any such refinancing. Per the terms of the eleventh amendment, Terra Operating LLC agreed to prepay $50.0 million of revolving loans outstanding under the Revolver and permanently reduce the revolving commitments and borrowing capacity by such amount. This amount was repaid on May 3, 2017.

On July 25, 2017, Terra Operating LLC repaid an additional $150.0 million of Revolver indebtedness, a portion of which was paid using proceeds the Company received from the sale of the U.K. Portfolio as discussed in Note 2. Assets Held for Sale. There was no reduction in revolving commitments and borrowing capacity as a result of this repayment.

On August 10, 2017, the Company entered into a twelfth amendment to the terms of the Revolver which further extended the due dates for delivery to the Administrative Agent and other parties to the Revolver for the Company's financial statements and accompanying information with respect to the first quarter of 2017 to August 30, 2017, the second quarter of 2017 to September 30, 2017 and the third quarter of 2017 to December 15, 2017. In addition, the Administrative Agent and requisite lenders waived all defaults or events of default existing as of or prior to the effective date of the twelfth amendment, and the consequences thereof, in connection with a failure to comply with the covenants requiring the delivery of the financial statements and accompanying information with respect to the first quarter of 2017. The Company filed this Form 10-Q for the first quarter of 2017 prior to August 30, 2017, and consequently no event of default occurred under the Revolver with respect to this Form 10-Q.

Per the terms of the twelfth amendment, Terra Operating LLC agreed to permanently reduce the revolving commitments under the Revolver by $50.0 million. After giving effect to this reduction in revolving commitments, the total borrowing capacity under the Revolver was $520.0 million as of such date. There was no additional payment of principal on the Revolver made in connection with this commitment reduction.

Senior Notes due 2023 and Senior Notes due 2025

The Senior Notes due 2023 and the Senior Notes due 2025 require the Company to timely file with the SEC, or make publicly available, audited annual financial statements and unaudited quarterly financial statements no later than 60 days following the date required by the SEC's rules and regulations (including extensions thereof). The Company has a 90-day grace period from the date a notice of default is deemed to be duly given to Terra Operating LLC in accordance with the Senior Notes due 2023 and the Senior Notes due 2025.

On May 2, 2017, Terra Operating LLC received a notice from the trustee of an event of default for failure to deliver 2016 audited annual financial statements and thus had until July 31, 2017 to deliver its 2016 audited financial statements before an event of default would occur under the 2023 Indenture and the indenture dated as of July 17, 2015 (as supplemented) with respect to the Senior Notes due 2025 (the "2025 Indenture"). However, the Form 10-K for the year ended December 31, 2016 was filed with the SEC within the grace period for delivery, and consequently no event of default occurred with respect to the 2016 10-K filing.

On July 11, 2017, Terra Operating LLC received a notice from the trustee of an event of default for failure to comply with its obligation to timely furnish the Company's Form 10-Q for the first quarter of 2017. However, this Form 10-Q for the first quarter of 2017 was filed within the 90-day grace period that commenced on July 11, 2017, and consequently no event of default occurred with respect to this filing.

Refer to the Merger Agreement section below for discussion of the Company's successful completion of a solicitation of consents from holders of record as of 5:00 p.m., New York City time, on August 1, 2017 of its Senior Notes due 2023 and its Senior Notes due 2025 to obtain a waiver of the requirement to make an offer to repurchase the Senior Notes issued under the respective indentures upon the occurrence of a change of control that would result from the consummation of the Merger.

Non-recourse Long-term Debt

Indirect subsidiaries of the Company have incurred long-term debt obligations with respect to the renewable energy facilities that those subsidiaries own directly or indirectly. The indebtedness of these subsidiaries is typically secured by the renewable energy facility's assets (mainly the renewable energy facility) or equity interests in such renewable energy facilities with no recourse to Terra LLC or Terra Operating LLC other than limited or capped contingent support obligations, which in aggregate are not considered to be material to the Company's business and financial condition. In connection with these financings and in the ordinary course of its business, the Company and its subsidiaries observe formalities and operating procedures to maintain each of their separate existence and can readily identify each of their separate assets and liabilities as separate and distinct from each other. As a result, these subsidiaries are legal entities that are separate and distinct from TerraForm Power, Terra LLC, Terra Operating LLC and the guarantors under the Revolver, the Senior Notes due 2023 and Senior Notes due 2025.

Canada project-level financing

On November 2, 2016, certain of the Company's subsidiaries entered into a new non-recourse loan financing in an aggregate principal amount of $120.0 million Canadian dollars ("CAD"), including a CAD $6.9 million letter of credit, secured by approximately 40 MW(ac) of utility-scale solar power plants located in Canada that are owned by the Company's subsidiaries. On February 28, 2017, the Company increased the principal amount of the credit facility by an additional CAD $113.9 million (including an additional CAD $6.7 million letter of credit), increasing the total facility to CAD $233.9 million. The proceeds of this additional financing are expected to be used for general corporate purposes and were used to pay down an additional $5.0 million on the Revolver as described above.

Non-recourse Portfolio Term Loan Prepayment

The Company has a non-recourse portfolio term loan with an outstanding principal balance of $469.8 million as of March 31, 2017 (the "Midco Portfolio Term Loan") that is secured by indirect equity interests in approximately 1,104.3 MW of the Company's renewable energy facilities, consisting of assets acquired from Invenergy Wind Global LLC (together with its subsidiaries, "Invenergy Wind") and certain other renewable energy facilities acquired from SunEdison. The loan matures on January 15, 2019, to the extent the Company exercises its extension options. The Company exercised the first two extension options in January and July of 2017, respectively. In June of 2017, the Company agreed to make a $100.0 million prepayment for this loan in connection with obtaining (i) a waiver to extend the 2016 audited project financial statement deadline under the loan agreement and (ii) a waiver of the change of control default that would arise under this loan agreement as a result of the Merger until, in the case of the change of control waiver, the date that is the earlier of three months following the closing of the Merger and March 31, 2018. This prepayment was made using a portion of the proceeds the Company received from the sale of the U.K. Portfolio as discussed in Note 2. Assets Held for Sale.

Non-recourse Debt Defaults

A SunEdison Debtor is a party to or guarantor of a material project agreement, such as asset management or O&M contracts, for most of the Company's non-recourse financing arrangements. As a result of the SunEdison Bankruptcy and delays in delivery of 2015 audited financial statements for the Company and/or certain project-level subsidiaries, among other things, the Company experienced defaults under most of its non-recourse financing agreements in 2016. During the course of 2016 and to date in 2017, the Company cured or obtained waivers or temporary forbearances with respect to most of these defaults and has transitioned, or is working to transition, the project-level services provided by SunEdison Debtors to third parties or in-house to a Company affiliate; however, certain of these defaults persist. Moreover, the Company has experienced additional defaults under most of the same non-recourse financing agreements in 2017 as the result of the failure to timely complete Company and/or project-level audits. The Company filed its Form 10-K for the year ended December 31, 2016 on July 21, 2017 and is working to complete the remaining project-level audits and seeking to obtain waivers of such default. For certain of these defaults, the corresponding contractual grace periods already expired as of the respective financial statement issuance date or the Company could not assert that it was probable that the violation would be cured within any remaining grace periods, would be cured for a period of more than twelve months or were not likely to recur. In addition, while the Company has been actively negotiating with the lenders to obtain waivers, the lenders have not currently waived or subsequently lost the right to demand repayment for more than one year from the balance sheet date with respect to certain of these defaults. As these defaults occurred prior to the issuance of the financial statements for the three months ended March 31, 2017 and for the year ended December 31, 2016, $1.6 billion of the Company's non-recourse long-term indebtedness, net of unamortized debt discounts and deferred financing costs, was reclassified to current in the unaudited condensed consolidated balance sheets as of March 31, 2017 and December 31, 2016, as the Company accounts for debt in default as of the date the financial statements are issued in the same manner as if the default existed as of the balance sheet date. Amortization of deferred financing costs and debt discounts continue to be amortized over the maturities of the respective financing agreements as before the violations, as the Company believes there is a reasonable likelihood that it will be able to successfully negotiate a waiver with the lenders and/or cure the defaults.

As a result of these defaults, the Company also reclassified $78.9 million and $65.3 million of long-term restricted cash to current as of March 31, 2017 and December 31, 2016, respectively, consistent with the corresponding debt classification, as the restrictions that required the cash balances to be classified as long-term restricted cash were driven by the financing agreements. As of March 31, 2017 and December 31, 2016, $21.4 million and $67.1 million, respectively, of cash and cash equivalents was also reclassified to current restricted cash as the cash balances were subject to distribution restrictions related to debt defaults that existed as of the respective balance sheet date. $33.8 million of the December 31, 2016 reclassification amount was reclassified from current restricted cash to assets held for sale as it related to the portfolios discussed in Note 2. Assets Held for Sale. There was no similar reclassification to assets held for sale for the March 31, 2017 reclassification amount. Refer to Note 8. Derivatives for discussion of corresponding interest rate swap reclassifications to current as a result of these defaults.

Maturities

The aggregate contractual payments of long-term debt due after March 31, 2017, including financing lease obligations and excluding amortization of debt discounts, premiums and deferred financing costs, as stated in the financing agreements, are as follows:



(In thousands)	Remainder of 2017¹		2018		2019		2020		2021		Thereafter		Total
Maturities of long-term debt as of March 31, 2017²	$	733,218	$	114,066	$	453,956	$	100,748	$	104,271	$	2,562,947	$	4,069,206

———

(1)

Includes $547.0 million of Revolver indebtedness as management intends to repay this indebtedness during 2017 ($200.0 million of which was paid prior to the financial statement issuance date as discussed above). Also includes $100.0 million prepayment for the Midco Portfolio Term Loan, which the Company agreed to pay in June of 2017 in connection with obtaining (i) a waiver to extend the 2016 audited project financial statement deadline under the loan agreement and (ii) a waiver of the change of control default that would arise under the loan agreement as a result of the Merger until, in the case of the change of control waiver, the date that is the earlier of three months following the closing of the Merger and March 31, 2018. This prepayment was made using a portion of the proceeds the Company received from the sale of the U.K. Portfolio as discussed in Note 2. Assets Held for Sale.

(2)

Represents the contractual principal payment due dates for the Company's long-term debt and does not reflect the reclassification of $1.6 billion of long-term debt to current as a result of debt defaults under certain of the Company's non-recourse financing arrangements, except for the $100.0 million related to the prepayment discussed directly above (which is classified as current as of March 31, 2017 as this payment was made prior to the issuance of the financial statements in connection with obtaining a waiver of the debt default under the loan agreement).

Merger Agreement

As discussed in Note 1. Nature of Operations and Basis of Presentation, on March 6, 2017, TerraForm Power entered into the Merger Agreement with Orion Holdings and Merger Sub, which are both affiliates of Brookfield. The closing of the Merger is subject to certain conditions as previously described. There is no financing condition to the consummation of the transactions contemplated by the Merger Agreement. Pursuant to the Merger Agreement, the Company has agreed to provide cooperation as reasonably requested by Orion Holdings in its efforts to obtain debt financing that is to be made available to the Company from and after the closing of the Merger. Certain lenders have committed, upon the terms and subject to the conditions set forth in debt commitment letters provided to Orion Holdings, to provide certain financing to repay, refinance, redeem, defease or otherwise repurchase certain Company indebtedness.

In addition, the Merger Agreement provides that, at or prior to the effective time of the Merger, TerraForm Power will enter into a revolving credit line agreement, substantially consistent with the term sheet as agreed between Orion Holdings and TerraForm Power as of the date of the Merger Agreement (the “Sponsor Line Agreement”), by and among TerraForm Power and Brookfield or its affiliates pursuant to which Brookfield or its affiliates will commit up to a $500 million secured revolving credit line to TerraForm Power for use to acquire renewable energy assets or for profit improving capital expenditures.

The closing of the Merger would trigger a change in control under the terms of the Revolver. Such change in control constitutes an event of default under the Revolver and would entitle the Revolver lenders to accelerate the principal amount outstanding under the Revolver. The Company intends to pay down and terminate the Revolver concurrently with consummating the Merger through a refinancing transaction. However, there can be no assurance that the Company will be able to enter into a replacement credit facility or otherwise secure financing on equal or more favorable terms. Such inability could have a materially adverse effect on the Company's liquidity and growth strategy.

The closing of the Merger would also have triggered a change in control under the 2023 Indenture and the 2025 Indenture. The 2023 Indenture and the 2025 Indenture require the Company to make an offer to repurchase the Senior Notes issued under the respective indentures at 101% of the applicable principal amount, plus accrued and unpaid interest and additional interest, if any, to the repurchase date following a change in control. However, on August 11, 2017, the Company announced the successful completion of a solicitation of consents from holders of record as of 5:00 p.m., New York City time, on August 1, 2017 of its Senior Notes due 2023 and its Senior Notes due 2025 to obtain a waiver of the requirement to make an offer to repurchase the Senior Notes issued under the respective indentures upon the occurrence of a change of control that would result from the consummation of the Merger, in each case among Terra Operating LLC, as issuer, the guarantors party thereto and U.S. Bank National Association, as trustee. Terra Operating LLC received validly delivered and unrevoked consents from the holders of a majority of the aggregate principal amount of each series of the Senior Notes outstanding as of the record date and paid a consent fee to each consenting holder of $1.25 per $1,000 principal amount of such series of the Senior Notes for which such holder delivered its consent.

In addition to the change of control waiver, Terra Operating LLC also received consents to effect on the closing date of the Merger certain amendments to the 2023 Indenture and the 2025 Indenture. The amendments would amend the definition of "Permitted Holder" under the respective indentures (which is referred to in the definition of change of control) to replace the references to "the Sponsor" therein with "Brookfield Asset Management, Inc. (or its successors and assigns)." Subject to the closing of the Merger, Terra Operating LLC will be obligated to effectuate the amendments and pay a success fee of $1.25 per $1,000 principal amount of each series of the Senior Notes for which such consenting holder delivered its consent. Terra Operating LLC will be under no obligation to effectuate the amendments or pay the success fee if the Merger is not consummated for any reason.

A limited number of the Company's non-recourse financing arrangements also include change in control provisions that would permit the counterparty to terminate the contract or accelerate maturity following the consummation of the Merger. The Company is working to obtain consents or waivers from those counterparties to the applicable change of control provisions, however, there is no assurance those consents will be obtained.

Income Taxes

3 Months Ended

Mar. 31, 2017

Income Tax Disclosure [Abstract]

Income Taxes

INCOME TAXES

The income tax provision consisted of the following:



	Three Months Ended March 31,
(In thousands, except effective tax rate)	2017			2016
Loss before income tax (benefit) expense	$	(57,191	)	$	(33,408	)
Income tax (benefit) expense	(918		)	97
Effective tax rate	1.6		%	(0.3		)%

As of March 31, 2017, TerraForm Power owned 65.7% of Terra LLC and consolidated the results of Terra LLC through its controlling interest. The Company records SunEdison's 34.3% ownership of Terra LLC as a non-controlling interest in the financial statements. Terra LLC is treated as a partnership for income tax purposes. As such, the Company records income tax on its 65.7% of Terra LLC's taxable income and SunEdison records income tax on its 34.3% share of Terra LLC's taxable income.

For the three months ended March 31, 2017 and 2016, the overall effective tax rate was different than the statutory rate of 35% primarily due to the recording of a valuation allowance on certain tax benefits attributed to the Company, loss allocated to non-controlling interests and the effect of state taxes. As of March 31, 2017, most jurisdictions were in a net deferred tax asset position. A valuation allowance is recorded against the deferred tax assets primarily because of the history of losses in those jurisdictions. As of March 31, 2017, the Company had not identified any uncertain tax positions for which a liability was required.

Derivatives

3 Months Ended

Mar. 31, 2017

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivatives

DERIVATIVES

As part of the Company’s risk management strategy, the Company has entered into derivative instruments which include interest rate swaps, foreign currency contracts and commodity contracts to mitigate interest rate, foreign currency and commodity price exposure. If the Company elects to do so and if the instrument meets the criteria specified in ASC 815, Derivatives and Hedging, the Company designates its derivative instruments as cash flow hedges. The Company enters into interest rate swap agreements in order to hedge the variability of expected future cash interest payments. Foreign currency contracts are used to reduce risks arising from the change in fair value of certain foreign currency denominated assets and liabilities. The objective of these practices is to minimize the impact of foreign currency fluctuations on operating results. The Company also enters into commodity contracts to economically hedge price variability inherent in electricity sales arrangements. The objectives of the commodity contracts are to minimize the impact of variability in spot electricity prices and stabilize estimated revenue streams. The Company does not use derivative instruments for speculative purposes.

As of March 31, 2017 and December 31, 2016, fair values of the following derivative instruments were included in the balance sheet captions indicated below:



	Fair Value of Derivative Instruments
	Hedging Contracts				Derivatives Not Designated as Hedges
(In thousands)	Interest Rate Swaps		Commodity Contracts		Interest Rate Swaps		Foreign Currency Contracts		Commodity Contracts		Gross Amounts of Assets/Liabilities Recognized		Gross Amounts Offset in Consolidated Balance Sheet		Net Amounts in Consolidated Balance Sheet
As of March 31, 2017
Prepaid expenses and other current assets	$	1,626	$	8,112	$	—	$	835	$	12,491	$	23,064	$	—	$	23,064
Other assets	418		79,206		—		202		23,988		103,814		—		103,814
Total assets	$	2,044	$	87,318	$	—	$	1,037	$	36,479	$	126,878	$	—	$	126,878
Accounts payable, accrued expenses and other current liabilities	$	10,066	$	—	$	737	$	—	$	—	$	10,803	$	—	$	10,803
Liabilities related to assets held for sale	—		—		3,119		—		—		3,119		—		3,119
Other long-term liabilities	—		—		—		—		—		—		—		—
Non-current liabilities related to assets held for sale	—		—		18,275		—		—		18,275		—		18,275
Total liabilities	$	10,066	$	—	$	22,131	$	—	$	—	$	32,197	$	—	$	32,197

As of December 31, 2016
Prepaid expenses and other current assets	$	1,150	$	3,664	$	—	$	953	$	12,028	$	17,795	$	—	$	17,795
Other assets	411		62,474		—		460		25,167		88,512		—		88,512
Total assets	$	1,561	$	66,138	$	—	$	1,413	$	37,195	$	106,307	$	—	$	106,307
Accounts payable, accrued expenses and other current liabilities	$	10,689	$	—	$	814	$	—	$	—	$	11,503	$	—	$	11,503
Liabilities related to assets held for sale	—		—		4,041		—		—		4,041		—		4,041
Other long-term liabilities	47		—		—		—		—		47		—		47
Non-current liabilities related to assets held for sale	—		—		16,786		—		—		16,786		—		16,786
Total liabilities	$	10,736	$	—	$	21,641	$	—	$	—	$	32,377	$	—	$	32,377

As of March 31, 2017 and December 31, 2016, notional amounts for derivative instruments consisted of the following:



	Notional Amount as of
(In thousands)	March 31, 2017	December 31, 2016
Derivatives designated as hedges:
Interest rate swaps (USD)	425,744	433,874
Interest rate swaps (CAD)	163,668	84,713
Commodity contracts (MWhs)	16,610	16,988
Derivatives not designated as hedges:
Interest rate swaps (USD)	14,655	14,681
Interest rate swaps (GBP)	222,018	222,018
Foreign currency contracts (CAD)	21,875	25,075
Commodity contracts (MWhs)	1,275	1,407

The Company has elected to present net derivative assets and liabilities on the balance sheet as a right to setoff exists. For interest rate swaps, the Company either nets derivative assets and liabilities on a trade-by-trade basis or nets them in accordance with a master netting arrangement if such an arrangement exists with the counterparties. Foreign currency contracts are netted by currency in accordance with a master netting arrangement. The Company has a master netting arrangement for its commodity contracts for which no amounts were netted as of March 31, 2017 as each of the commodity contracts were in a gain position.

Gains and losses on derivatives not designated as hedges for the three months ended March 31, 2017 and 2016 consisted of the following:



	Location of Loss (Gain) in the Statements of Operations	Three Months Ended March 31,
(In thousands)	Location of Loss (Gain) in the Statements of Operations	2017			2016
Interest rate swaps	Interest expense, net	$	1,374		$	540
Foreign currency contracts	Loss on foreign currency exchange, net	213			536
Commodity contracts	Operating revenues, net	(4,113		)	(8,461		)

Gains and losses recognized related to interest rate swaps and commodity contracts designated as cash flow hedges for the three months ended March 31, 2017 and 2016 consisted of the following:



	Three Months Ended March 31,
	Gain (Loss) Recognized in Other Comprehensive Income (Effective Portion) net of taxes¹						Location of Amount Reclassified from Accumulated Other Comprehensive Income into Income (Effective Portion)	Amount of (Gain) Loss Reclassified from Accumulated Other Comprehensive Income into Income (Effective Portion)						Amount of (Gain) Loss Recognized in Income (Ineffective Portion and Amount Excluded from Effectiveness Testing)
(In thousands)	2017			2016				2017			2016			2017			2016
Interest rate swaps	$	(1,619	)	$	(32,193	)	Interest expense, net	$	2,861		$	3,433		$	(326	)	$	328
Commodity contracts	15,673			(772		)	Operating revenues, net	(3,247		)	(3,064		)	(2,918		)	2,188
Total	$	14,054		$	(32,965	)		$	(386	)	$	369		$	(3,244	)	$	2,516

————


(1)	Net of taxes of $5.8 million attributed to commodity contracts during the three months ended March 31, 2017. There were no taxes attributed to interest rate swaps during the three months ended March 31, 2017, and there were no taxes attributed to derivatives designated as cash flow hedges during the three months ended March 31, 2016.

As of March 31, 2017 and December 31, 2016, the Company had posted letters of credit in the amount of $15.0 million and $18.0 million, respectively, as collateral related to certain commodity contracts. Certain derivative contracts contain provisions providing the counterparties a lien on specific assets as collateral. There was no cash collateral received or pledged as of March 31, 2017 and December 31, 2016 related to the Company's derivative transactions.

Derivatives Designated as Hedges

Interest Rate Swaps

The Company has interest rate swap agreements to hedge variable rate non-recourse debt. These interest rate swaps qualify for hedge accounting and were designated as cash flow hedges. Under the interest rate swap agreements, the renewable energy facilities pay a fixed rate and the counterparties to the agreements pay a variable interest rate. The amounts deferred in other comprehensive income and reclassified into earnings during the three months ended March 31, 2017 and 2016 related to the interest rate swaps are provided in the tables above. The loss expected to be reclassified into earnings over the next twelve months is approximately $4.8 million. The maximum term of outstanding interest rate swaps designated as hedges is 17 years.

As discussed in Note 6. Long-term debt, the Company experienced defaults under certain of its non-recourse financing agreements prior to the issuance of the financial statements for the three months ended March 31, 2017 and for the year ended December 31, 2016. As the Company's interest rate swap agreements contain cross-default provisions, $4.5 million and $4.8 million of related liabilities have been reclassified to current as of March 31, 2017 and December 31, 2016, respectively. The Company is actively working with the counterparties to cure these defaults and obtain waivers as necessary. The Company does not currently expect any changes to the underlying cash flows as a result of these defaults and thus has determined that there is no impact to the swaps' qualification for hedge accounting and designation as cash flow hedges.

Commodity Contracts

The Company has long-dated physically delivered commodity contracts that hedge variability in cash flows associated with the sales of power from certain renewable energy facilities located in Texas. These commodity contracts qualify for hedge accounting and are designated as cash flow hedges. Accordingly, the effective portions of the change in fair value of these derivatives are reported in accumulated other comprehensive income and subsequently reclassified to earnings in the periods when the hedged transactions affect earnings. Any ineffective portions of the derivatives’ change in fair value are recognized currently in earnings. The amounts deferred in other comprehensive income and reclassified into earnings during the three months ended March 31, 2017 and 2016 related to the commodity contracts are provided in the tables above. The gain expected to be reclassified into earnings over the next twelve months is approximately $6.5 million. The maximum term of outstanding commodity contracts designated as hedges is 13 years.

Derivatives Not Designated as Hedges

Interest Rate Swaps

The Company has interest rate swap agreements that economically hedge the cash flows for non-recourse debt. These interest rate swaps pay a fixed rate and the counterparties to the agreements pay a variable interest rate. The changes in fair value are recorded in interest expense, net in the unaudited condensed consolidated statements of operations as these hedges are not accounted for under hedge accounting.

As of March 31, 2017 and December 31, 2016, the Company reclassified $3.1 million and $4.0 million, respectively, of current derivative liabilities to liabilities related to assets held for sale and $18.3 million and $16.8 million, respectively, of non-current derivative liabilities to non-current liabilities related to assets held for sale. These pertain to interest rate swap agreements for the U.K. Portfolio that were previously designated as cash flow hedges. The Company discontinued hedge accounting for these interest rate swaps during the second quarter of 2016 and the changes in fair value are now recorded through earnings.

Foreign Currency Contracts

The Company has foreign currency contracts in order to economically hedge its exposure to foreign currency fluctuations. The settlement of these hedges occurs on a quarterly basis through maturity. As these hedges are not accounted for under hedge accounting, the changes in fair value are recorded in loss (gain) on foreign currency exchange, net in the unaudited condensed consolidated statements of operations.

Commodity Contracts

The Company has commodity contracts in order to economically hedge commodity price variability inherent in certain electricity sales arrangements. If the Company sells electricity to an independent system operator market and there is no PPA available, it may enter into a commodity contract to hedge all or a portion of their estimated revenue stream. These commodity contracts require periodic settlements in which the Company receives a fixed-price based on specified quantities of electricity and pays the counterparty a variable market price based on the same specified quantity of electricity. As these hedges are not accounted for under hedge accounting, the changes in fair value are recorded in operating revenues net, in the unaudited condensed consolidated statements of operations.

Fair Value of Financial Instruments

3 Months Ended

Mar. 31, 2017

Fair Value Disclosures [Abstract]

Fair Value of Financial Instruments

FAIR VALUE OF FINANCIAL INSTRUMENTS

The fair value of assets and liabilities are determined using either unadjusted quoted prices in active markets (Level 1) or pricing inputs that are observable (Level 2) whenever that information is available and using unobservable inputs (Level 3) to estimate fair value only when relevant observable inputs are not available. The Company uses valuation techniques that maximize the use of observable inputs. Assets and liabilities are classified in their entirety based on the lowest priority level of input that is significant to the fair value measurement. Where observable inputs are available for substantially the full term of the asset or liability, the instrument is categorized in Level 2. If the inputs into the valuation are not corroborated by market data, in such instances, the valuation for these contracts is established using techniques including extrapolation from or interpolation between actively traded contracts as well as calculation of implied volatilities. When such inputs have a significant impact on the measurement of fair value, the instrument is categorized as Level 3. The Company regularly evaluates and validates the inputs used to determine fair value of Level 3 contracts by using pricing services to support the underlying market price of the commodity.

The Company uses a discounted cash flow valuation technique to fair value its derivative assets and liabilities. The primary inputs in the valuation models for commodity contracts are market observable forward commodity curves and risk-free discount rates and to a lesser degree credit spreads and volatilities. The primary inputs into the valuation of interest rate swaps and foreign currency contracts are forward interest rates, foreign currency exchange rates, and to a lesser degree credit spreads.

Recurring Fair Value Measurements

The following table summarizes the financial instruments measured at fair value on a recurring basis classified in the fair value hierarchy (Level 1, 2 or 3) based on the inputs used for valuation in the unaudited condensed consolidated balance sheets:



(In thousands)	As of March 31, 2017								As of December 31, 2016
Assets	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Interest rate swaps	$	—	$	2,044	$	—	$	2,044	$	—	$	1,561	$	—	$	1,561
Commodity contracts	—		36,479		87,318		123,797		—		37,195		66,138		103,333
Foreign currency contracts	—		1,037		—		1,037		—		1,413		—		1,413
Total derivative assets	$	—	$	39,560	$	87,318	$	126,878	$	—	$	40,169	$	66,138	$	106,307
Liabilities
Interest rate swaps	$	—	$	32,197	$	—	$	32,197	$	—	$	32,377	$	—	$	32,377
Foreign currency contracts	—		—		—		—		—		—		—		—
Total derivative liabilities	$	—	$	32,197	$	—	$	32,197	$	—	$	32,377	$	—	$	32,377

The Company's interest rate swaps, commodity contracts not designated as hedges and foreign currency contracts are considered Level 2, since all significant inputs are corroborated by market observable data. The Company's commodity contracts designated as hedges are considered Level 3 as they contain significant unobservable inputs. There were no transfers in or out of Level 1, Level 2 and Level 3 during the three months ended March 31, 2017.

The following table reconciles the changes in the fair value of derivative instruments classified as Level 3 in the fair value hierarchy for the three months ended March 31, 2017 and 2016:



	Three Months Ended March 31,
(In thousands)	2017			2016
Beginning balance	$	66,138		$	63,154
Realized and unrealized gains (losses):
Included in other comprehensive income (loss)	18,262			(3,836		)
Included in operating revenues, net	6,165			(2,188		)
Settlements	(3,247		)	—
Balance as of March 31	$	87,318		$	57,130

The significant unobservable inputs used in the valuation of the Company's commodity contracts categorized as Level 3 of the fair value hierarchy as of March 31, 2017 are as follows:



(In thousands, except range)	Fair Value as of March 31, 2017
Transaction Type	Assets		Liabilities		Valuation Technique	Unobservable Inputs	Range
Commodity contracts - power	$	87,318	$	—	Discounted cash flow	Forward price (per MWh)	$	13.6		-	$	78.2
					Option model	Volatilities	3.1		%	-	8.2		%

The sensitivity of the Company's fair value measurements to increases (decreases) in the significant unobservable inputs is as follows:



Significant Unobservable Input	Position	Impact on Fair Value Measurement
Increase (decrease) in forward price	Forward sale	Decrease (increase)
Increase (decrease) in implied volatilities	Purchase option	Increase (decrease)

The Company measures the sensitivity of the fair value of its Level 3 commodity contracts to potential changes in commodity prices using a mark-to-market analysis based on the current forward commodity prices and estimates of the price volatility. An increase in power forward prices will produce a mark-to-market loss, while a decrease in prices will result in a mark-to-market gain.

Fair Value of Debt

The carrying amount and estimated fair value of the Company's long-term debt as of March 31, 2017 and December 31, 2016 is as follows:



	As of March 31, 2017				As of December 31, 2016
(In thousands)	Carrying Amount		Fair Value		Carrying Amount		Fair Value
Long-term debt, including current portion	$	4,016,410	$	4,175,169	$	3,950,914	$	4,080,397

The fair value of the Company's long-term debt, except the senior notes was determined using inputs classified as Level 2 and a discounted cash flow approach using market rates for similar debt instruments. The fair value of the senior notes is based on market price information which is classified as a Level 1 input. They are measured using the last available trades at the end of each respective fiscal period. The fair value of the Senior Notes due 2023 and Senior Notes due 2025 were 103.88% and 107.00% of face value as of March 31, 2017, respectively, and 101.38% and 103.75% of face value as of December 31, 2016, respectively. The fair value is not indicative of the amount that the Company would have to pay to redeem these notes as they are not callable at this time.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Stockholders' Equity

3 Months Ended

Mar. 31, 2017

Equity [Abstract]

Stockholders' Equity

STOCKHOLDERS' EQUITY

As of March 31, 2017, the following shares of TerraForm Power were outstanding:



Share Class:	Shares Outstanding	Shareholder(s)
Class A common stock	92,247,740	*
Class B common stock	48,202,310	SunEdison
Total Shares	140,450,050

———

Class A common stockholders are comprised of public and private investors, executive officers, management and personnel who provide services to the Company. Shares of Class A common stock outstanding exclude 264,836 shares of common stock held in treasury. The total par value of Class A common stock reflected on the unaudited condensed consolidated balance sheet and unaudited condensed consolidated statement of stockholders' equity as of March 31, 2017 includes the shares of stock held in treasury.

Merger Agreement and Settlement Agreement

As discussed in Note 1. Nature of Operations and Basis of Presentation, on March 6, 2017, TerraForm Power entered into the Merger Agreement with Orion Holdings and Merger Sub, which are both affiliates of Brookfield. Orion Holdings would own approximately 51% of the Class A shares of TerraForm Power following the consummation of the Merger, subject to certain conditions precedent. The Merger Agreement was approved unanimously by the members of the Board of TerraForm Power voting on the matter, following the unanimous recommendation of its Corporate Governance and Conflicts Committee. Completion of the transaction is expected to occur, subject to satisfaction of closing conditions, in the second half of 2017.

Immediately prior to the effective time of the Merger, TerraForm Power will declare the payment of a special cash dividend (the “Special Dividend”) in the amount of $1.94 per fully diluted share, which includes the Company’s issued and outstanding Class A shares, Class A shares issued to SunEdison pursuant to the Settlement Agreement (more fully described below) and Class A shares underlying outstanding restricted stock units of the Company under the Company’s long-term incentive plan.

At the effective time of the Merger, each share of Class A common stock of TerraForm Power issued and outstanding immediately prior to the effective time of the Merger, with the exception of certain excluded shares, will be converted into the right to, at the holder’s election and subject to proration as described below, either (i) receive $9.52 per Class A Share, in cash, without interest (the “Per Share Cash Consideration”) or (ii) retain one share of Class A common stock, par value $0.01 per share, of the surviving corporation (the “Per Share Stock Consideration,” and, together with the Per Share Cash Consideration, without duplication, the “Per Share Merger Consideration”). Issued and outstanding shares include shares issued in connection with the SunEdison Settlement Agreement as more fully described below and shares underlying outstanding restricted stock units of the Company under the Company's long-term incentive plan. The Per Share Stock Consideration will be subject to proration in the event that the aggregate number of Class A Shares for which an election to receive the Per Share Stock Consideration has been made exceeds 49% of the TerraForm Power fully diluted share count (the “Maximum Stock Consideration Shares”). Additionally, the Per Share Cash Consideration will be subject to proration in the event that the aggregate number of Class A shares for which an election to receive the Per Share Cash Consideration has been made exceeds the TerraForm Power fully diluted share count minus (i) the Maximum Stock Consideration Shares, (ii) any Class A shares currently held by affiliates of Brookfield, and (iii) any shares for which the holders seek appraisal under Delaware law.

As part of its strategic alternatives process and the entry into the Merger Agreement, TerraForm Power also entered into the Settlement Agreement with the SunEdison Debtors on March 6, 2017. The Settlement Agreement, which was approved by the Bankruptcy Court, provides that, subject to the consummation of the Merger and certain other conditions, SunEdison will exchange, effective as of immediately prior to the record time for the Special Dividend, all of the Class B units of Terra LLC held by it or any of its controlled affiliates for 48,202,310 Class A shares of TerraForm Power (the “Exchange Shares” and the “Exchange,” as applicable). As a result of and following completion of the Exchange, all of the issued and outstanding shares of Class B common stock of TerraForm Power will be redeemed and retired. The Company will also authorize and issue to SunEdison a number of additional Class A shares (the “Additional SunEdison Shares,” together with the Exchange Shares, the “SunEdison Shares”), such that, immediately prior to the effective time of the Merger, SunEdison will hold an aggregate number of Class A shares equal to 36.9% of TerraForm Power’s fully diluted share count.

Dividends

TerraForm Power has not declared or paid a dividend since the quarterly dividend for the third quarter of 2015. As a result of the SunEdison Bankruptcy, the limitations on the Company's ability to access the capital markets for its corporate debt and equity securities and other risks that the Company faces as detailed in this report, the Company's management believed it was prudent to defer any decisions on paying dividends to its shareholders for the time being. Further, under the Merger Agreement, the Company is restricted from declaring or paying dividends prior to the consummation of the Merger, except for the Special Dividend as described above.

Stock-based Compensation

3 Months Ended

Mar. 31, 2017

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Stock-based Compensation

STOCK-BASED COMPENSATION

The Company has equity incentive plans that provide for the award of incentive and nonqualified stock options, restricted stock awards ("RSAs") and restricted stock units ("RSUs") to personnel and directors who provide services to the Company, including personnel and directors who also provide services to SunEdison, Inc. and TerraForm Global, Inc. The maximum contractual term of an award is ten years from the date of grant. As of March 31, 2017, an aggregate of 3,828,288 shares of Class A common stock were available for issuance under these plans. Upon exercise of stock options or the vesting of the RSUs, the Company will issue shares that have been previously authorized to be issued.

Historically, stock-based compensation costs related to equity awards in the Company's stock were allocated to the Company, SunEdison, Inc. and TerraForm Global, Inc. based on the relative percentage of time that the personnel and directors spent providing services to the respective companies. As of January 1, 2017, the Company hired certain former employees of SunEdison who provided dedicated services to the Company. The amount of stock-based compensation expense related to equity awards in the Company's stock which has been awarded to the Company's employees was $1.5 million and $0.4 million during the three months ended March 31, 2017 and 2016, respectively, and is reflected in the unaudited condensed consolidated statements of operations within general and administrative expenses. The total amount of stock-based compensation cost related to equity awards in the Company's stock which has been allocated to SunEdison, Inc. and TerraForm Global, Inc. was $0.2 million and $0.1 million for the three months ended March 31, 2017 and 2016, respectively, and is recognized as a distribution to SunEdison within Net SunEdison investment on the unaudited condensed consolidated statement of stockholders' equity with no impact to the Company's unaudited condensed consolidated statements of operations. Similarly, stock-based compensation costs related to equity awards in the stock of SunEdison, Inc. and TerraForm Global, Inc. awarded to employees of the Company are allocated to the Company. The amount of stock-based compensation expense related to equity awards in the stock of SunEdison, Inc. and TerraForm Global, Inc. that was allocated to the Company was $1.0 million and $0.5 million for the three months ended March 31, 2017 and 2016, respectively, and is reflected in the unaudited condensed consolidated statements of operations within general and administrative expenses - affiliate and has been treated as an equity contribution from SunEdison within Net SunEdison investment on the unaudited condensed consolidated statement of stockholders' equity.

Restricted Stock Awards

RSAs provide the holder with immediate voting rights, but are restricted in all other respects until vested. Upon a termination of employment for any reason, any unvested shares of Class A common stock held by the terminated participant will be forfeited. All unvested RSAs are paid dividends and distributions. There were no unvested RSAs as of March 31, 2017.

The following table presents information regarding outstanding RSAs as of March 31, 2017 and changes during the period then ended:



	Number of RSAs Outstanding		Weighted-Average Grant-Date Fair Value Per Share		Aggregate Intrinsic Value (in millions)
Balance at January 1, 2017	366,195		$	8.51
Converted	(366,195	)	8.51
Balance as of March 31, 2017	—		$	—	$	—

No RSAs were granted during the three months ended March 31, 2017 or 2016. As of March 31, 2017, there was no unrecognized compensation cost in relation to outstanding RSAs.

Restricted Stock Units

RSUs will not entitle the holders to voting rights and holders of the RSUs will not have any right to receive dividends or distributions. The following table presents information regarding outstanding RSUs as of March 31, 2017 and changes during the period then ended:



	Number of RSUs Outstanding		Aggregate Intrinsic Value (in millions)		Weighted Average Remaining Contractual Life (In Years)
Balance at January 1, 2017	1,622,953
Granted	185,980
Converted	(35,900	)
Forfeited	(296,243	)
Balance as of March 31, 2017	1,476,790		$	18.3	1.0

As of March 31, 2017, $10.6 million of total unrecognized compensation cost related to RSUs is expected to be recognized over a weighted average period of approximately 1.8 years. The weighted-average fair value of RSUs on the date of grant was $12.08 and $9.96 for the three months ended March 31, 2017 and 2016, respectively.

During the three months ended March 31, 2017, the Company awarded 173,180 RSUs to certain employees and executive officers of TerraForm Global, Inc. and the Company. These are time-based awards which will vest on the following schedule: 25% after one year, 25% after two years, and 50% after three years. The grant-date fair value of these awards was $2.1 million, which was calculated based on the Company's closing stock price on the date of grant, and will be recognized as compensation cost on a straight-line basis over the three year service period. On February 12, 2017, the Company awarded 12,800 RSUs to a non-employee director as compensation for services. Pursuant to the terms of the relevant RSU award agreement, these RSUs vested in full on May 25, 2017. The grant-date fair value of these awards was $0.1 million, which was calculated based on the Company's closing stock price on the date of grant, and was recognized as compensation cost by the Company on a straight-line basis through May 25, 2017.

Stock Options

As of March 31, 2017, there was no unrecognized compensation cost in relation to outstanding stock options.

Merger Agreement

As discussed in Note 1. Nature of Operations and Basis of Presentation, on March 6, 2017, TerraForm Power entered into the Merger Agreement with certain affiliates of Brookfield. Pursuant to the TerraForm Power 2014 Second Amended and Restated Long-Term Incentive Plan, if the Merger is consummated, it will result in a change of control and all unvested equity awards will vest, which would result in a significant stock-based compensation charge in such period.

Loss Per Share

3 Months Ended

Mar. 31, 2017

Earnings Per Share [Abstract]

Loss Per Share

LOSS PER SHARE

Loss per share is based upon the weighted average shares outstanding. Net loss attributable to Class A common stockholders is adjusted by the amount of deemed dividends related to the accretion of redeemable non-controlling interest and the amount of dividends paid on Class A shares and participating RSAs. Unvested RSAs that contain non-forfeitable rights to dividends are treated as participating securities and are included in the loss per share computation using the two-class method, to the extent that there are undistributed earnings available as such securities do not participate in losses.

Basic and diluted loss per share of the Company's Class A common stock for the three months ended March 31, 2017 and 2016 was calculated as follows:



	Three Months Ended March 31,
(In thousands, except per share amounts)	2017			2016
Basic and diluted loss per share¹:
Net loss attributable to Class A common stockholders	$	(31,769	)	$	(481	)
Less: accretion of redeemable non-controlling interest	(2,226		)	—
Less: dividends paid on Class A shares and participating RSAs	—			—
Undistributed loss attributable to Class A shares	$	(33,995	)	$	(481	)

Weighted average basic and diluted Class A shares outstanding	92,072			87,833

Distributed earnings per share	$	—		$	—
Undistributed loss per share	(0.37		)	(0.01		)
Basic and diluted loss per share	$	(0.37	)	$	(0.01	)

———

(1)

The computation for diluted loss per share of the Company's Class A common stock for the three months ended March 31, 2017 excludes 1,476,790 of unvested RSUs because the effect would have been anti-dilutive. The computation for diluted loss per share of the Company's Class A common stock for the three months ended March 31, 2016 excludes 546,633 of unvested RSAs and 2,941,323 of unvested RSUs because the effect would have been anti-dilutive.

Non-controlling Interests

3 Months Ended

Mar. 31, 2017

Noncontrolling Interest [Abstract]

Non-controlling Interests

NON-CONTROLLING INTERESTS

Non-controlling Interests

Non-controlling interests represent the portion of net assets in consolidated entities that are not owned by the Company. The following table presents the non-controlling interest balances reported in stockholders’ equity in the unaudited condensed consolidated balance sheets as of March 31, 2017 and December 31, 2016:



(In thousands)	March 31, 2017		December 31, 2016
SunEdison's non-controlling interest in Terra LLC	$	645,982	$	660,799
Non-controlling interests in renewable energy facilities	797,027		804,243
Total non-controlling interests	$	1,443,009	$	1,465,042

As of March 31, 2017, TerraForm Power owned 65.7% of Terra LLC and consolidated the results of Terra LLC through its controlling interest, with SunEdison's 34.3% interest shown as a non-controlling interest.

Redeemable Non-controlling Interests

Non-controlling interests in subsidiaries that are redeemable either at the option of the holder or at fixed and determinable prices at certain dates are classified as redeemable non-controlling interests in subsidiaries between liabilities and stockholders' equity in the unaudited condensed consolidated balance sheets. The redeemable non-controlling interests in subsidiaries balance is determined using the hypothetical liquidation at book value method for the VIE funds or allocation of share of income or losses in other subsidiaries subsequent to initial recognition; however, the non-controlling interests balance cannot be less than the estimated redemption value.

The Company recorded a $2.2 million adjustment during the three months ended March 31, 2017 to the value of the Invenergy Wind redeemable non-controlling interest, reflecting the excess of the future redemption value over its carrying amount at the balance sheet date based on SEC guidance in ASC 480-10-S99-3A. The Company accretes the redemption value of the redeemable non-controlling interest over the redemption period using the straight-line method. Accretion adjustments to the carrying value of this redeemable non-controlling interest are recorded against additional paid-in capital. There were no similar adjustments recorded during the three months ended March 31, 2016.

The following table presents the activity of the redeemable non-controlling interests balance for the three months ended March 31, 2017:



	Redeemable Non-controlling Interests
(In thousands)	Capital			Retained Earnings		Total
Balance as of December 31, 2016	$	153,490		$	26,877	$	180,367
Distributions	(3,157		)	—		(3,157		)
Accretion of redeemable non-controlling interest	2,226			—		2,226
Net income	—			835		835
Balance as of March 31, 2017	$	152,559		$	27,712	$	180,271

Commitments and Contingencies	3 Months Ended
Commitments and Contingencies	Mar. 31, 2017
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	COMMITMENTS AND CONTINGENCIES Letters of Credit The Company's customers, vendors and regulatory agencies often require the Company to post letters of credit in order to guarantee performance under relevant contracts and agreements. The Company is also required to post letters of credit to secure obligations under various swap agreements and leases and may, from time to time, decide to post letters of credit in lieu of cash deposits in reserve accounts under certain financing arrangements. The amount that can be drawn under some of these letters of credit may be increased from time to time subject to the satisfaction of certain conditions. As of March 31, 2017, the Company had outstanding letters of credit under the Revolver of $66.6 million and outstanding project-level letters of credit of $148.2 million. Guarantee Agreements The Company and its subsidiaries have provided guarantees to certain of its institutional tax equity investors and financing parties in connection with its tax equity financing transactions. These guarantees do not guarantee the returns targeted by the tax equity investors or financing parties, but rather support any potential indemnity payments payable under the tax equity agreements, including related to management of tax partnerships and recapture of tax credits or renewable energy grants in connection with transfers of the Company’s direct or indirect ownership interests in the tax partnerships to entities that are not qualified to receive those tax benefits. The Company and its subsidiaries have also provided guarantees in connection with acquisitions of third party assets or to support project contractual obligations, including renewable energy credit sales agreements, and may provide additional guarantees in connection with future acquisitions or project contractual obligations. The Company and its subsidiaries have also provided other capped or limited contingent guarantees and other support obligations with respect to certain project-level indebtedness. Commitments to Acquire Renewable Energy Facilities As of March 31, 2017, the Company did not have any open commitments to acquire renewable energy facilities from third parties or SunEdison, other than as described with respect to the Invenergy Wind Option Agreements (as discussed and defined in Note 15. Related Parties). Legal Proceedings The Company is not a party to any material legal proceedings other than various administrative and regulatory proceedings arising in the ordinary course of the Company's business or as described below. While the Company cannot predict with certainty the ultimate resolution of such proceedings or other claims asserted against the Company, certain of the claims, if adversely concluded, could result in substantial damages or other relief. Securities Class Action On April 4, 2016, a securities class action under federal securities laws (Chamblee v. TerraForm Power, Inc., et al., Case No. 1:16-cv-00981-JFM) (the "Chamblee Class Action") was filed in the United States District Court for the District of Maryland against the Company and two of its former officers (one of which was also a director of the Company) asserting claims under Section 10(b) and 20(a) of the Securities and Exchange Act of 1934 and SEC Rule 10b-5 on behalf of a putative class. The Complaint alleges that the defendants made materially false and misleading statements regarding the Company’s business, operational and compliance policies, including with respect to disclosures regarding SunEdison’s internal controls and the Company's reliance on SunEdison. An amended complaint was filed on September 26, 2016 and a former officer and director of the Company were added as defendants. On October 4, 2016, the Judicial Panel on Multidistrict Litigation transferred this matter to the U.S. District Court for the Southern District of New York (SDNY) for consolidated or coordinated pretrial proceedings. On December 19, 2016, an initial case management conference was held in the multidistrict litigation proceedings in the SDNY. The Court entered an order requiring all parties to the multidistrict litigation to mediate and entered a partial stay of all proceedings through March 31, 2017. On March 24, 2017, the plaintiffs filed an amended complaint adding three additional directors and officers of the Company as defendants, as well as additional factual allegations. On June 9, 2017, the Company filed a motion to dismiss the case. After mediation, the parties agreed in principle to a settlement of $14.8 million conditioned on, among other things, funding of the settlement by the Company’s directors’ and officers’ liability insurance providers to the satisfaction of the Company. The Company believes that the settlement is likely to be consummated and that a substantial majority of the settlement will be paid by insurance, but, as of the time of this writing, there can be no assurance that this will be the case. The Company’s present intention is not to proceed with the settlement in the event (which the Company believes is unlikely) that the Company itself would be required to contribute an uninsured amount towards the settlement which would be material to the Company’s consolidated results of operations. Claim relating to First Wind Acquisition On May 27, 2016, D.E. Shaw Composite Holdings, L.L.C. and Madison Dearborn Capital Partners IV, L.P., as the representatives of the sellers (the “First Wind Sellers”) filed an amended complaint for declaratory judgment against the Company and Terra LLC in the Supreme Court of the State of New York alleging breach of contract with respect to the Purchase and Sale Agreement, dated as of November 17, 2014 (the “FW Purchase Agreement”) between, among others, SunEdison, the Company and Terra LLC and the First Wind Sellers. The amended complaint alleges that Terra LLC and SunEdison became jointly obligated to make $231.0 million in earn-out payments in respect of certain development assets SunEdison acquired from the First Wind Sellers under the FW Purchase Agreement, when those payments were purportedly accelerated by SunEdison's bankruptcy and by the resignations of two SunEdison employees. The amended complaint further alleges that the Company, as guarantor of certain Terra LLC obligations under the FW Purchase Agreement, is liable for this sum. Defendants filed a motion to dismiss the amended complaint on July 5, 2016, on the ground that, among other things, SunEdison is a necessary party to this action. Plaintiffs filed an opposition to the motion to dismiss on August 22, 2016. Defendants filed their reply on September 12, 2016. A hearing on the motion to dismiss took place on January 24, 2017. The Company is awaiting a decision on the motion to dismiss. The Company believes the First Wind Sellers’ allegation is without merit and will contest the claim and allegations vigorously. However, the Company cannot predict with certainty the ultimate resolution of any proceedings brought in connection with such a claim. Whistleblower Complaint By Francisco Perez Gundin On May 18, 2016, the Company’s former Director and Chief Operating Officer, Francisco Perez Gundin (“Perez”), filed a complaint against the Company, TerraForm Global, Inc. and certain individuals, with the United States Department of Labor. The complaint alleges that the defendants engaged in a retaliatory termination of Mr. Perez's employment after he allegedly voiced concerns to SunEdison’s Board of Directors about public representations made by SunEdison officers regarding SunEdison’s liquidity position, and after he allegedly voiced his opposition to transactions that he alleges were self-interested and which he alleges SunEdison forced on the Company. He alleges that the Company participated in SunEdison’s retaliatory termination by constructively terminating his position as Chief Operating Officer of the Company in connection with SunEdison’s constructive termination of his employment. He seeks lost wages, bonuses, benefits, and other money that he alleges that he would have received if he had not been subjected to the allegedly retaliatory termination. The Company's Position Statement in response to the complaint was filed in October of 2016. On February 21, 2017, Mr. Perez filed Gundin v. TerraForm Global, Inc. et al. against TerraForm Power, TerraForm Global, Inc. and certain individuals as defendants in the United States District Court for the District of Maryland. The complaint asserts claims for retaliation, breach of the implied covenant of good faith and fair dealing and promissory estoppel based on the same allegation in Mr. Perez's Department of Labor complaint. On March 15, 2017, the Company filed notice with the Judicial Panel on Multidistrict Litigation to transfer this action to the Southern District of New York where the Chamblee Class Action and other cases not involving the Company relating to the SunEdison Bankruptcy are being tried. The plaintiff did not oppose the transfer, which was approved by the Judicial Panel on Multidistrict Litigation. The Company has engaged in settlement discussions with respect to this proceeding and reserved for the estimated loss related to this complaint as of December 31, 2016, which was not considered material to the Company's consolidated results of operations. However, the Company is unable to predict with certainty the ultimate resolution of these proceedings. Whistleblower Complaint By Carlos Domenech Zornoza On May 10, 2016, the Company’s former Director and Chief Executive Officer, Carlos Domenech Zornoza (“Domenech”), filed a complaint against the Company, TerraForm Global, Inc. and certain individuals, with the United States Department of Labor. The complaint alleges that the defendants engaged in a retaliatory termination of Mr. Domenech’s employment on November 20, 2015 after he allegedly voiced concerns to SunEdison’s Board of Directors about public representations made by SunEdison officers regarding SunEdison’s liquidity position, and after he allegedly voiced his opposition to transactions that he alleges were self-interested and which he alleges SunEdison forced on the Company. He alleges that the Company participated in SunEdison’s retaliatory termination by terminating his position as Chief Executive Officer of the Company in connection with SunEdison’s termination of his employment. He seeks lost wages, bonuses, benefits, and other money that he alleges that he would have received if he had not been subjected to the allegedly retaliatory termination. The Company's Position Statement in response to the complaint was filed in October of 2016. On February 21, 2017, Mr. Domenech filed Domenech Zornoza v. TerraForm Global, Inc. et. al against TerraForm Power, TerraForm Global, Inc. and certain individuals as defendants in the United States District Court for the District of Maryland. The complaint asserts claims for retaliation, breach of the implied covenant of good faith and fair dealing and promissory estoppel based on the same allegations in Mr. Domenech's Department of Labor complaint. On March 15, 2017, the Company filed notice with the Judicial Panel on Multidistrict Litigation to transfer this action to the Southern District of New York where the Chamblee Class Action and other cases not involving the Company relating to the SunEdison Bankruptcy are being tried. The plaintiff opposed the transfer. However, the transfer was approved by the Judicial Panel on Multidistrict Litigation. The Company has engaged in settlement discussions with respect to this proceeding and reserved for the estimated loss related to this complaint as of December 31, 2016, which was not considered material to the Company's consolidated results of operations. However, the Company is unable to predict with certainty the ultimate resolution of these proceedings. Eastern Maine Electric Cooperative Litigation On November 21, 2016, the Penobscot County Maine Superior Court entered judgment in the amount of $13.6 million against First Wind Holdings, LLC (“First Wind”), an indirect subsidiary of SunEdison, Inc., and several subsidiaries of the Company. The plaintiff filed judgment liens against the defendants which will stay outstanding through the appeals process. The action involved a claimed breach of contract arising out of a contract between First Wind and Eastern Maine Electric Cooperative, Inc. (“EMEC”), under which First Wind, on behalf of itself and its then wholly-owned subsidiaries, agreed to negotiate a definitive agreement to transfer to EMEC a portion of a transmission line. The transmission line is owned, in part, by one of the Company's subsidiaries, and is the sole means of transmitting power from the Rollins, Stetson I and Stetson II wind farms. The subsidiaries that own these wind farms and the transmission line were acquired by the Company as part of the Company's acquisition of certain of the operating assets of First Wind Holdings. The Company believes all the defendants acted in good faith and the Company’s subsidiaries that are defendants in the action intend to continue to vigorously contest the allegations and have filed an appeal of the verdict with the Maine Supreme Judicial Court. The judgment was for money damages and, if upheld on appeal, would not be expected to result in a loss of the use of the transmission line by the Company's subsidiaries. The amount of the judgment has been accrued for since December of 2015. Threatened Avoidance Actions On November 7, 2016, the unsecured creditors’ committee in the SunEdison Bankruptcy filed a motion with the Bankruptcy Court seeking standing to assert against the Company, on behalf of SunEdison, avoidance claims arising from payments and other intercompany transactions between the Company and SunEdison dating back to the Company’s initial public offering and including drop-down transactions involving the sale of renewable energy facilities by SunEdison to the Company. The Company’s objection to the standing motion was filed on November 29, 2016. As described in Note 1. Nature of Operations and Basis of Presentation and Note 15. Related Parties, the Company and SunEdison have entered into the Settlement Agreement pursuant to which the Company and SunEdison will release these claims and substantially all other intercompany claims between the Company and SunEdison. The Settlement Agreement has been approved by the Bankruptcy Court but the effectiveness of the release of claims between the Company and SunEdison remains subject to the consummation of the Merger with affiliates of Brookfield or other transaction jointly supported by the Company and SunEdison or a Stand-Alone Conversion and certain other conditions. A failure of the Settlement Agreement to become effective may result in litigation of the underlying claims. In that case, the Company would vigorously contest any relevant claims brought by SunEdison or any other party. However, the Company cannot predict with certainty the ultimate resolution of any proceedings brought in connection with such a claim.

Related Parties

3 Months Ended

Mar. 31, 2017

Related Parties

RELATED PARTIES

SunEdison Bankruptcy

As described above, the SunEdison Debtors filed for bankruptcy on April 21, 2016. The Company is not a part of the SunEdison Bankruptcy and has no plans to file for bankruptcy itself. The Company does not rely on SunEdison for funding or liquidity and believes that the Company will have sufficient liquidity to support its ongoing operations, absent the potential negative impact of default conditions that could arise from failure to meet financial statement deadlines as described in Note 1. Nature of Operations and Basis of Presentation and Note 6. Long-term Debt. The Company believes its equity interests in its renewable energy facilities that are legally owned by the Company’s subsidiaries are not available to satisfy the claims of the creditors of the SunEdison Bankruptcy.

As discussed below, the Company and SunEdison are currently parties to multiple agreements, including the Management Services Agreement ("MSA"), project-level O&M and asset management agreements, engineering procurement and construction agreements and other support agreements, including module warranties with respect to SunEdison produced modules. Moreover, at the time of the Company's initial public offering ("IPO") on July 23, 2014, SunEdison and the Company entered into a complex contractual arrangement setting forth the terms and conditions of SunEdison's sponsorship of the Company, which included, among other things, the MSA, Interest Payment Agreement and Support Agreement. The Company believes that this sponsor arrangement comprises a single integrated transaction. The agreements comprising this sponsor arrangement are set forth in separate documents and discussed individually in this Form 10-Q.

During the SunEdison Bankruptcy, SunEdison has not performed substantially as obligated under its agreements with the Company, including under this sponsor arrangement and certain O&M and asset management arrangements. In order to mitigate any adverse effects of this non-performance, the Company has undertaken a strategic initiative to transition away from SunEdison as a sponsor, including establishing a stand-alone corporate structure and seeking to retain third party or in-house solutions for project level asset management and O&M. SunEdison's failure to perform substantially as obligated under its agreements with the Company, including under this sponsor arrangement, project-level O&M and asset management agreements and other support agreements, may have a material adverse effect on the Company.

Settlement with SunEdison

As discussed in Note 1. Nature of Operations and Basis of Presentation, TerraForm Power entered into the Settlement Agreement with SunEdison on March 6, 2017. The Settlement Agreement has been approved by the Bankruptcy Court but the effectiveness of the intercompany releases and certain other provisions remain subject to the consummation of the Merger or other transaction jointly supported by the Company and SunEdison or a Stand-Alone Conversion and certain other conditions. Upon its effectiveness, subject to the foregoing conditions, the Settlement Agreement will resolve claims between TerraForm Power and SunEdison, including, among other things, claims of SunEdison against the Company for alleged fraudulent and preferential transfers and claims of the Company against SunEdison, including those outlined in the initial proof of claim filed by the Company in the SunEdison Bankruptcy on September 25, 2016 and on October 7, 2016. Under the Settlement Agreement, all such claims will be mutually released, and any agreements between SunEdison Debtors and SunEdison parties to the Settlement Agreement on the one hand and the Company on the other hand will be rejected, subject to certain limited exceptions, and no party will be deemed to have liability under those rejected agreements. The Settlement Agreement also provides that, immediately prior to the record time for the Special Dividend, all Class B shares of TerraForm Power and Class B units of Terra LLC held by SunEdison will be exchanged for Class A Shares of TerraForm Power, and TerraForm Power will issue approximately 6.6 million additional shares to SunEdison, such that, immediately prior to the effective time of the Merger, SunEdison will hold 36.9% of the fully diluted shares of TerraForm Power. SunEdison will also transfer the IDRs of Terra LLC that SunEdison holds to an affiliate of Brookfield. The TerraForm Power Board approved the Settlement Agreement upon the recommendation of the Corporate Governance and Conflicts Committee, each member of which is independent (pursuant to applicable NASDAQ rules) and does not also serve on the Board of Directors of TerraForm Global.

Management Services Agreement

General and administrative expenses - affiliate represent costs incurred by SunEdison for services provided to the Company pursuant to the MSA. Pursuant to the MSA, SunEdison agreed to provide or arrange for other service providers to provide management and administrative services including legal, accounting, tax, treasury, project finance, information technology, insurance, employee benefit costs, communications, human resources and procurement to the Company. As consideration for the services provided, the Company agreed to pay SunEdison a base management fee as follows: (i) 2.5% of the Company's cash available for distribution in 2015, 2016, and 2017 (not to exceed $4.0 million in 2015, $7.0 million in 2016 or $9.0 million in 2017), and (ii) an amount equal to SunEdison's or other service provider's actual cost in 2018 and thereafter. Subsequent to the SunEdison Bankruptcy, SunEdison continued to provide some management and administrative services to the Company, including employee compensation and benefit costs, human resources, information technology and communications, but stopped providing (or reimbursing the Company for) other services pursuant to the MSA. Costs for services that SunEdison stopped providing or reimbursing the Company for are now included within general and administrative expenses in the unaudited condensed consolidated statements of operations.

General and administrative expenses - affiliate were $1.4 million and $5.4 million for the three months ended March 31, 2017 and 2016, respectively, as reported in the unaudited condensed consolidated statements of operations. There was no cash consideration paid to SunEdison for these services for the three months ended March 31, 2017 or 2016. The Company was contractually obligated to pay SunEdison $2.3 million for these services for the three months ended March 31, 2017. Since SunEdison stopped providing (or reimbursing the Company for) certain services covered under the MSA due to the SunEdison Bankruptcy, the Company was required to pay third party service providers and Company employees directly for these services. As the total amount paid by the Company for these services exceeded the contractual amount due to SunEdison, the Company did not pay SunEdison the $2.3 million base management fee. Since this fee was not paid to SunEdison as of March 31, 2017, it was recorded within Due to SunEdison, net on the unaudited condensed consolidated balance sheet and as a reduction to the net equity contribution from SunEdison. The general and administrative expenses - affiliate amount in excess of this accrued fee was treated as an equity contribution from SunEdison within Net SunEdison investment on the unaudited condensed consolidated statement of stockholders' equity for the three months ended March 31, 2017.

Subject to the satisfaction of the conditions described above under Settlement with SunEdison, the MSA will be rejected as part of the Settlement Agreement entered into with SunEdison, and the Company will be deemed to have no liability, damages or claims arising out of the rejection of the MSA. In connection with the consummation of the transactions contemplated by the Merger Agreement discussed in Note 1. Nature of Operations and Basis of Presentation, including satisfaction of applicable conditions, the Company will enter into a master services agreement with Brookfield and certain affiliates of Brookfield (collectively, the "MSA Providers") pursuant to which the MSA Providers will provide certain management services to the Company commencing at the effective time of the Merger. As consideration for the services provided or arranged for by Brookfield and certain of its affiliates pursuant to the master services agreement, the Company will pay a base management fee on a quarterly basis that will be paid in arrears and calculated as follows:


•	for each of the first four quarters following the closing date of the Merger, a fixed component of $2.5 million per quarter (subject to proration for the quarter including the closing date of the Merger) plus 0.3125% of the market capitalization value increase for such quarter;


•	for each of the next four quarters, a fixed component of $3.0 million per quarter plus 0.3125% of the market capitalization value increase for such quarter; and


•	thereafter, a fixed component of $3.75 million per quarter plus 0.3125% of the market capitalization value increase for such quarter.

For purposes of calculating the quarterly payment of the base management fee, the term market capitalization value increase means, for any quarter, the increase in value of the Company’s market capitalization for such quarter, calculated by multiplying the number of outstanding shares of Class A common stock as of the last trading day of such quarter by the difference between (x) the volume-weighted average trading price of a share of Class A common stock for the trading days in such quarter and (y) $9.52. If the difference between (x) and (y) in the market capitalization value increase calculation for a quarter is a negative number, then the market capitalization value increase is deemed to be zero.

O&M and Asset Management Services

O&M services, as well as asset management services, have historically been provided to the Company substantially by SunEdison pursuant to contractual agreements. The Company is in the process of transitioning away from SunEdison for these services, and these contracts are expected to be terminated or rejected no later than upon the effectiveness of the Settlement Agreement with SunEdison subject to the conditions described above under Settlement with SunEdison. As described below, the Company has entered into certain transition services agreements with SunEdison with respect to these services to facilitate this transition. Costs incurred for these services from SunEdison were $5.6 million and $6.8 million during the three months ended March 31, 2017 and 2016, respectively, and are reported as cost of operations - affiliate in the unaudited condensed consolidated statements of operations. $1.9 million of the amount for the first quarter of 2017 was incurred in connection with the transition services agreements described below.

Transition Services Agreements

In the first half of 2017, the Company entered into certain transition services agreements with SunEdison with respect to project-level operations and maintenance and asset management services provided by SunEdison. These transition services agreements allow the Company, among other things, to hire employees of SunEdison that are currently performing these project-level services for the Company. These transition services agreements also allow the Company to terminate project-level asset management and operations and maintenance services on 10 days advance notice. Under these agreements, the Company agreed to indemnify SunEdison for certain losses and liabilities to the extent SunEdison failed to perform services under existing services contracts as a result of the transition of SunEdison employees to the Company. SunEdison will also continue to provide certain project related services for a transitional period. The Company is also in the process of negotiating a corporate-level transition services agreement with SunEdison. The Company expects that under this agreement, SunEdison would agree to continue to provide certain corporate-level services, including tax and information technology support services through the end of October of 2017.

Engineering, Procurement and Construction Contracts and Module Warranties

SunEdison served as the prime construction contractor for most of the Company's renewable energy facilities acquired from SunEdison pursuant to engineering, procurement and construction contracts with the Company's project-level subsidiaries. These contracts are generally fixed price, turn-key construction contracts that include workmanship and other warranties with respect to the design and construction of the facilities that survive for a period of time after the completion of construction. These contracts or related contracts (including O&M agreements) also often include production or availability guarantees with respect to the output or availability of the facility that survive completion of construction. Moreover, the Company also generally obtained solar module warranties from SunEdison, including workmanship warranties and output guarantees, for those solar facilities that the Company acquired from SunEdison that utilized SunEdison modules. Third party insurance has been procured by SunEdison to back-stop payment of warranty claims for SunEdison modules purchased from January of 2011 through January of 2017.

During the first quarter of 2017, the Company received $7.0 million from SunEdison in satisfaction of outstanding claims made under engineering, procurement and construction contracts, of which $4.8 million related to the Company's renewable energy facility located in Chile and compensated the relevant project company as the facility's performance during the warranty period was below that guaranteed by an affiliate of SunEdison under the applicable EPC contract. These receipts were treated as equity contributions from SunEdison within Net SunEdison investment on the unaudited condensed consolidated statement of stockholders' equity for the three months ended March 31, 2017.

Amended Interest Payment Agreement

On January 28, 2015, Terra LLC and Terra Operating LLC entered into an amended and restated interest payment agreement (the “Amended Interest Payment Agreement”) with SunEdison. Pursuant to the Amended Interest Payment Agreement, SunEdison agreed to pay amounts equal to a portion of each scheduled interest payment of the Senior Notes due 2023, beginning with the first scheduled interest payment on August 1, 2015, and continuing through the scheduled interest payment on August 1, 2017. Amounts were to be paid by SunEdison as follows: (1) in respect of the first scheduled interest payment, $16.0 million, less amounts already paid by SunEdison under the initial interest payment agreement entered into with SunEdison immediately prior to the completion of the Company's IPO, (2) in respect of each scheduled interest payment in 2016, $8.0 million, and (3) in respect of each scheduled interest payment in 2017, $8.0 million, provided that the maximum amount payable by SunEdison under the Amended Interest Payment Agreement (inclusive of amounts already paid under the initial interest payment agreement) would not exceed $48.0 million (plus any interest due on any payment not remitted when due). SunEdison is not be obligated to pay any amounts payable under the Senior Notes due 2023 in connection with an acceleration of the indebtedness thereunder. The Company received an $8.0 million equity contribution from SunEdison pursuant to the Amended Interest Payment Agreement during the three months ended March 31, 2016, which was accrued for as of the end of 2015. As of the first quarter of 2016, the Company had received a cumulative amount of $24.0 million under the Amended Interest Payment Agreement and initial interest payment agreement from SunEdison with $24.0 million of scheduled payments due in future periods. The Company has not received any payments from SunEdison pursuant to the Amended Interest Payment Agreement since the first quarter of 2016.

On July 29, 2016, SunEdison delivered a notice purporting to terminate the Amended Interest Payment Agreement. The notice alleged that SunEdison's bankruptcy permits termination as of right without following the bankruptcy procedures for rejection of executory contracts. Subject to the satisfaction of the conditions described above under Settlement with SunEdison, the Amended Interest Payment Agreement will be rejected as part of the Settlement Agreement entered into with SunEdison without further liability, claims or damages on the part of the Company.

Support Agreement and Intercompany Agreement

The Company entered into a project support agreement with SunEdison (the "Support Agreement") on July 23, 2014, which provided the Company the option to purchase additional renewable energy facilities from SunEdison. The Support Agreement also provided the Company a right of first offer with respect to certain other renewable energy facilities. During the three months ended March 31, 2016, the Company acquired renewable energy facilities with a combined nameplate capacity of 19.2 MW from SunEdison under the Support Agreement. The Company paid SunEdison $39.0 million for the acquisition of these facilities, of which $9.7 million was paid in the first quarter of 2016 and $29.3 million was paid in the third quarter of 2016. The Company has not acquired any renewable energy facilities from SunEdison since the first quarter of 2016.

In connection with the Company's acquisition of certain operating renewable energy facilities from First Wind in January of 2015, the Company and SunEdison entered into an agreement (the "Intercompany Agreement") pursuant to which the Company was granted the option to purchase additional renewable energy facilities in the First Wind pipeline from SunEdison. The Company has not acquired any renewable energy facilities from SunEdison under the Intercompany Agreement since the fourth quarter of 2015.

Subject to the satisfaction of the conditions described above under Settlement with SunEdison, the Support Agreement and Intercompany Agreement will be rejected as part of the Settlement Agreement entered into with SunEdison without further liability, claims or damages on the part of the Company. Upon consummation of the transactions contemplated by the Merger Agreement as discussed in Note 1. Nature of Operations and Basis of Presentation, the Company will enter into the "Relationship Agreement" with Brookfield pursuant to which Brookfield will provide the Company with a right of first offer on certain operating wind and solar assets that are owned by Brookfield and certain of its affiliates and are located in North America and certain other Western European nations.

The Company believes it continues to maintain a call right over 0.5 GW (net) of operating wind power plants that are owned by a warehouse vehicle that was owned and arranged by SunEdison (the "AP Warehouse"). The Company believes SunEdison has sold its equity interest in the AP Warehouse to an unaffiliated third party.

Insurance Allocation Agreement

The Company, TerraForm Global, Inc., SunEdison and certain of their respective directors and officers shared $150.0 million of directors’ and officers’ liability insurance policies that covered the period from July 15, 2015 to July 14, 2016 (the “D&O Insurance”). SunEdison and the independent directors of SunEdison (the “SUNE D&O Parties”) entered into an agreement, dated March 27, 2017 and amended on June 7, 2017, with the Company, TerraForm Global, Inc., their respective current directors and certain of their respective current officers (the “YieldCo D&O Parties”) related to the D&O Insurance. Among other things, this agreement provides that: (i) the YieldCo D&O Parties consent to a $32.0 million payment to SunEdison from the D&O Insurance in connection with the settlement of claims proposed to be brought by the unsecured creditors’ committee in the SunEdison Bankruptcy under a motion in the SunEdison Bankruptcy case for derivative standing; (ii) for a specified period of time, the SUNE D&O Parties and the YieldCo D&O Parties agree to cooperate in trying to reach settlements of certain lawsuits pending against the YieldCo D&O Parties arising from a variety of alleged prepetition actions and transactions, including, but not limited to, the initial public offering of TerraForm Global, Inc. and other securities transactions, and SunEdison agrees to consent to such proposed settlements to be funded by up to $32.0 million from the D&O Insurance; and (iii) for a specified period of time, SunEdison, its independent directors, the Company and TerraForm Global, Inc. will not assert certain payment priority provisions of the D&O Insurance. The agreement was approved by the Bankruptcy Court on June 28, 2017.

In addition to the insurance allocation agreement, from time to time, the Company agreed to orders or stipulations with SunEdison and TerraForm Global, Inc. in connection with the SunEdison Bankruptcy related to, among other things, insurance proceeds, interim operating protocols, bankruptcy filing protocols and other matters.

Due to SunEdison, net

All amounts incurred by the Company and not paid as of the balance sheet date for asset management and O&M services received from SunEdison or for renewable energy facilities acquired from SunEdison are reported as a payable to SunEdison. Additionally, prior to the SunEdison Bankruptcy, certain of the Company's expenses were reimbursed by SunEdison pursuant to the MSA, and any of these expenses that were paid for by the Company and not reimbursed by SunEdison as of the balance sheet date were reported as a receivable from SunEdison. As of March 31, 2017 and December 31, 2016, the Company had a net payable to SunEdison of $16.9 million and $16.7 million, respectively, which is reported as Due to SunEdison, net in the unaudited condensed consolidated balance sheets. As a result of the SunEdison Bankruptcy, the Company recognized a $0.8 million loss within loss on receivables - affiliate in the unaudited condensed consolidated statement of operations for the three months ended March 31, 2016 related to recording a bad debt reserve for outstanding receivables from the SunEdison Debtors.

Incentive Distribution Rights

Immediately prior to the completion of the IPO on July 23, 2014, Terra LLC entered into the Amended and Restated Operating Agreement of Terra LLC which granted SunEdison 100% of the IDRs of Terra LLC. IDRs represent the right to receive increasing percentages (15.0%, 25.0% and 50.0%) of Terra LLC’s quarterly distributions after the Class A Units, Class B units, and Class B1 units of Terra LLC have received quarterly distributions in an amount equal to $0.2257 per unit (the "Minimum Quarterly Distribution") and the target distribution levels have been achieved. SunEdison has held 100% of the IDRs since the completion of the IPO. SunEdison has pledged the IDRs as collateral under its DIP financing and its first and second lien credit facilities and second lien secured notes. As of March 31, 2017 and December 31, 2016, there were no Class B1 units of Terra LLC outstanding. There were no payments for IDRs made by the Company during the three months ended March 31, 2017 and 2016.

As discussed in Note 1. Nature of Operations and Basis of Presentation, SunEdison agreed to deliver the outstanding IDRs held by SunEdison or certain of its affiliates to TerraForm Power or its designee and in connection therewith, concurrently with the execution and delivery of the Merger Agreement, TerraForm Power, Terra LLC, Brookfield IDR Holder and SunEdison and certain of its affiliates have entered into the IDR Transfer Agreement which provides that, subject to satisfaction of the conditions in the Merger Agreement, SunEdison affiliates will transfer all of the IDRs to Brookfield IDR Holder at the effective time of the Merger on the terms and conditions set forth in the IDR Transfer Agreement. At the closing of the Merger, the limited liability company agreement of Terra LLC will be amended and restated to, among other things, reset the IDR thresholds of Terra LLC to establish a first distribution threshold of $0.93 per share of Class A common stock and a second distribution threshold of $1.05 per share of Class A common stock. As a result of this amendment and restatement, amounts distributed from Terra LLC would be distributed on a quarterly basis as follows:


•	first, to the Company in an amount equal to the Company’s outlays and expenses for such quarter;

•

second, to holders of Class A units, until an amount has been distributed to such holders of Class A units that would result, after taking account of all taxes payable by the Company in respect of the taxable income attributable to such distribution, in a distribution to holders of shares of Class A common stock of $0.93 per share (subject to adjustment for distributions, combinations or subdivisions of shares of Class A common stock) if such amount were distributed to all holders of shares of Class A common stock;

•

third, 15% to the holders of the IDRs and 85% to the holders of Class A units until a further amount has been distributed to holders of Class A units in such quarter that would result, after taking account of all taxes payable by the Company in respect of the taxable income attributable to such distribution, in a distribution to holders of shares of Class A common stock of an additional $0.12 per share (subject to adjustment for distributions, combinations or subdivisions of shares of Class A common stock) if such amount were distributed to all holders of shares of Class A common stock; and


•	thereafter, 75% to holders of Class A units and 25% to holders of the IDRs.

Commitments to Acquire Renewable Energy Facilities from SunEdison

As of March 31, 2017, the Company did not have any open commitments to acquire renewable energy facilities from SunEdison, other than as discussed and defined directly below with respect to the Invenergy Wind Option Agreements.

In connection with the Company's acquisition of certain operating wind power plants from Invenergy Wind in December of 2015, Sun Edison LLC, a wholly owned subsidiary of SunEdison, acting as intermediary, entered into certain option arrangements with Invenergy Wind for its remaining 9.9% interest in the acquired companies that are located in the U.S. (the "Invenergy Wind Interest"). Simultaneously, Terra LLC entered into a back to back option agreement with Sun Edison LLC on substantially identical terms (collectively the "Option Agreements"). The Option Agreements effectively permit (i) Terra LLC to exercise a call option to purchase the Invenergy Wind Interest over a 180-day period beginning on September 30, 2019, and (ii) Invenergy Wind to exercise a put option with respect to the Invenergy Wind Interest over a 180-day period beginning on September 30, 2018. The exercise prices of the put and call options described above would be based on the determination of the fair market value of the Invenergy Wind Interest at the time the relevant option is exercised, subject to certain minimum and maximum thresholds set forth in the Option Agreements. As part of the Settlement Agreement (which was approved by the Bankruptcy Court), with certain limited exceptions, all agreements, including the Option Agreement between Terra LLC and Sun Edison LLC, will be rejected as of the effectiveness of the settlement, which will occur upon the consummation of the Merger, subject to satisfaction of conditions precedent, or an alternative transaction that is jointly supported by the Company and SunEdison or a Stand-Alone Conversion. If the Option Agreement is rejected under the Settlement Agreement, the Company would not expect to be obligated to perform on its Option Agreement.

Segment Reporting

3 Months Ended

Mar. 31, 2017

Segment Reporting [Abstract]

Segment Reporting

SEGMENT REPORTING

The Company has two reportable segments: Solar and Wind. These segments comprise the Company's entire portfolio of renewable energy facility assets and are determined based on the management approach. This approach designates the internal reporting used by management for making decisions and assessing performance as the source of the reportable segments. The Company’s operating segments consist of Distributed Generation, North America Utility and International Utility that are aggregated into the Solar reportable segment and Northeast Wind, Central Wind and Hawaii Wind that are aggregated into the Wind reportable segment. The operating segments have been aggregated as they have similar economic characteristics and meet all of the aggregation criteria. Corporate expenses include general and administrative expenses, acquisition costs, interest expense on corporate-level indebtedness, stock-based compensation and depreciation, accretion and amortization expense. All net operating revenues for the three months ended March 31, 2017 and 2016 were earned by the Company's reportable segments from external customers in the United States (including Puerto Rico), Canada, the United Kingdom and Chile.

The following table reflects summarized financial information concerning the Company’s reportable segments for the three months ended March 31, 2017 and 2016:



	Three Months Ended March 31, 2017
(In thousands)	Solar			Wind		Corporate			Total
Operating revenues, net	$	66,001		$	85,134	$	—		$	151,135
Depreciation, accretion and amortization expense	26,775			33,451		761			60,987
Other operating costs and expenses	13,908			25,161		39,011			78,080
Interest expense, net	19,581			20,899		27,832			68,312
Other non-operating (income) expenses, net	(42		)	548		441			947
Income tax benefit¹	—			—		(918		)	(918		)
Net income (loss)	$	5,779		$	5,075	$	(67,127	)	$	(56,273	)
Balance Sheet
Total assets²	$	3,537,803		$	3,620,311	$	598,997		$	7,757,111



	Three Months Ended March 31, 2016
(In thousands)	Solar		Wind		Corporate			Total
Operating revenues, net	$	71,148	$	82,769	$	—		$	153,917
Depreciation, accretion and amortization expense	31,809		27,127		71			59,007
Other operating costs and expenses	18,569		21,928		21,908			62,405
Interest expense, net	18,430		21,051		29,513			68,994
Other non-operating expenses (income), net	1,249		206		(4,536		)	(3,081		)
Income tax expense¹	—		—		97			97
Net income (loss)	$	1,091	$	12,457	$	(47,053	)	$	(33,505	)
Balance Sheet
Total assets²	$	3,595,387	$	3,609,471	$	501,007		$	7,705,865

———


(1)	Income tax (benefit) expense is not allocated to the Company's Solar and Wind segments.


(2)	Represents total assets as of March 31, 2017 and December 31, 2016, respectively.

Other Comprehensive Income (Loss)

3 Months Ended

Mar. 31, 2017

Equity [Abstract]

Other Comprehensive Income (Loss)

OTHER COMPREHENSIVE INCOME (LOSS)

The following table presents the changes in each component of accumulated other comprehensive income, net of tax, for the three months ended March 31, 2017:



(In thousands)	Foreign Currency Translation Adjustments			Hedging Activities			Accumulated Other Comprehensive Income
Balance as of December 31, 2016	$	(22,133	)	$	45,045		$	22,912
Net unrealized gain arising during the period	2,680			14,054			16,734
Reclassification of net realized loss (gain) into earnings:
Interest expense, net	—			2,861			2,861
Operating revenues, net	—			(3,247		)	(3,247		)
Other comprehensive income	2,680			13,668			16,348
Accumulated other comprehensive (loss) income	(19,453		)	58,713			39,260
Less: Other comprehensive income attributable to non-controlling interests	918			5,972			6,890
Balance as of March 31, 2017	$	(20,371	)	$	52,741		$	32,370

The following tables present each component of other comprehensive income (loss) and the related tax effects for the three months ended March 31, 2017 and 2016:



	Three Months Ended March 31,
	2017									2016
(In thousands)	Before Tax			Tax Effect			Net of Tax			Before Tax			Tax Effect		Net of Tax
Foreign currency translation adjustments:
Net unrealized gain arising during the period	$	2,680		$	—		$	2,680		$	6,573		$	—	$	6,573
Hedging activities:
Net unrealized gain (loss) arising during the period	19,890			(5,836		)	14,054			(32,965		)	—		(32,965		)
Reclassification of net realized (gain) loss into earnings	(386		)	—			(386		)	369			—		369
Net change	19,504			(5,836		)	13,668			(32,596		)	—		(32,596		)
Other comprehensive income (loss)	$	22,184		$	(5,836	)	16,348			$	(26,023	)	$	—	(26,023		)
Less: Other comprehensive income (loss) attributable to non-controlling interests, net of tax							6,890								(9,309		)
Other comprehensive income (loss) attributable to Class A common stockholders							$	9,458							$	(16,714	)

Nature of Operations and Basis of Presentation (Policies)	3 Months Ended
	Mar. 31, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with the Securities and Exchange Commission’s ("SEC") regulations for interim financial information. Accordingly, they do not include all of the information and notes required by U.S. generally accepted accounting principles ("U.S. GAAP") for complete financial statements. The financial statements should be read in conjunction with the accounting policies and other disclosures as set forth in the notes to the Company’s annual financial statements for the year ended December 31, 2016, filed with the SEC on Form 10-K on July 21, 2017. Interim results are not necessarily indicative of results for a full year. In the opinion of management, the accompanying unaudited condensed consolidated financial statements contain all material adjustments consisting of normal and recurring accruals necessary to present fairly the Company's financial position as of March 31, 2017 and the results of operations, comprehensive loss and cash flows for the three months ended March 31, 2017 and 2016.
Use of Estimates	In preparing the unaudited condensed consolidated financial statements, the Company used estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities as of the date of the financial statements. Such estimates also affect the reported amounts of revenues, expenses and cash flows during the reporting period. To the extent there are material differences between the estimates and actual results, the Company's future results of operations would be affected.
Recent Accounting Developments	In May 2014, the Financial Accounting Standards Board ("FASB") issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606), which requires an entity to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers. ASU No. 2014-09 will replace most existing revenue recognition guidance in U.S. GAAP when it becomes effective. In March 2016, the FASB issued ASU No. 2016-08, Revenue from Contracts with Customers (Topic 606), Principal versus Agent Considerations (Reporting Revenue Gross versus Net), which clarifies how to apply the implementation guidance on principal versus agent considerations related to the sale of goods or services to a customer as updated by ASU No. 2014-09. ASU No. 2014-09 and ASU No. 2016-08 will become effective for the Company on January 1, 2018. Early application is permitted but not before January 1, 2017. ASU No. 2014-09 and ASU No. 2016-08 permit the use of either the retrospective or modified retrospective method. The Company is working through an adoption plan which includes the evaluation of revenue contracts compared to the new standards and evaluating the impact of the new standards on the Company's consolidated financial statements and related disclosures. The Company does not plan to adopt these standards prior to January 1, 2018. In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842), which primarily changes the lessee's accounting for operating leases by requiring recognition of lease right-of-use assets and lease liabilities. This standard is effective for annual reporting periods beginning after December 15, 2018, with early adoption permitted. The Company is currently evaluating the effect of ASU No. 2016-02 on its consolidated financial statements. In March 2016, the FASB issued ASU No. 2016-09, Compensation - Stock Compensation (Topic 718). This update was issued as part of the FASB's simplification initiative and affects all entities that issue share-based payment awards to their employees. The amendments in this update cover such areas as the recognition of excess tax benefits and deficiencies, the classification of those excess tax benefits on the statement of cash flows, an accounting policy election for forfeitures, the amount an employer can withhold to cover income taxes and still qualify for equity classification and the classification of those taxes paid on the statement of cash flows. This update is effective for annual and interim periods beginning after December 15, 2016, with early adoption permitted if all provisions are adopted within the same period. The Company adopted ASU No. 2016-09 as of January 1, 2017, which did not result in any material adjustments to the Company's consolidated financial statements and related disclosures. In March 2016, the FASB issued ASU No. 2016-06, Derivatives and Hedging (Topic 815), which clarifies that determining whether the economic characteristics of a put or call are clearly and closely related to its debt host requires only an assessment of the four-step decision sequence outlined in FASB ASC paragraph 815-15-25-24. Additionally, entities are not required to separately assess whether the contingency itself is clearly and closely related. This standard is effective for annual and interim periods beginning after December 15, 2016, with early adoption permitted. The amendments in this update should be applied on a modified retrospective basis. The adoption of ASU No. 2016-06 as of January 1, 2017 did not have an impact on the Company's consolidated financial statements. In March 2016, the FASB issued ASU No. 2016-07, Investments - Equity Method and Joint Ventures (Topic 323). The amendments of ASU No. 2016-07 eliminate the requirement that when an investment qualifies for use of the equity method as a result of an increase in the level of ownership interest or degree of influence, an investor must adjust the investment, results of operations and retained earnings retroactively on a step-by-step basis as if the equity method had been in effect during all previous periods that the investment had been held. The amendments require that the equity method investor add the cost of acquiring the additional interest in the investee to the current basis of the investor's previously held interest and adopt the equity method of accounting with no retroactive adjustment to the investment. In addition, ASU No. 2016-07 requires that an entity that has an available-for-sale equity security that becomes qualified for the equity method of accounting recognize through earnings the unrealized holding gain or loss in accumulated other comprehensive income at the date the investment becomes qualified for use of the equity method. The guidance in ASU No. 2016-07 is effective for fiscal years beginning after December 15, 2016, and interim periods within those annual periods. The adoption of ASU No. 2016-07 is required to be applied prospectively and early adoption is permitted. The Company evaluated this standard and determined that it did not have an impact on its consolidated financial statements as it does not have any equity method investments. In August 2016, the FASB issued ASU No. 2016-15, Statement of Cash Flows (Topic 230), Classification of Certain Cash Receipts and Cash Payments. The amendments of ASU No. 2016-15 were issued to address eight specific cash flow issues for which stakeholders have indicated to the FASB that a diversity in practice existed in how entities were presenting and classifying these items in the statement of cash flows. The issues addressed by ASU No. 2016-15 include but are not limited to the classification of debt prepayment and debt extinguishment costs, payments made for contingent consideration for a business combination, proceeds from the settlement of insurance proceeds, distributions received from equity method investees and separately identifiable cash flows and the application of the predominance principle. The amendments of ASU No. 2016-15 are effective for public entities for fiscal years beginning after December 15, 2017 and interim periods in those fiscal years. Early adoption is permitted, including adoption in an interim fiscal period with all amendments adopted in the same period. The adoption of ASU No. 2016-15 is required to be applied retrospectively. The Company is currently evaluating the impact of the standard on its consolidated statements of cash flows. In October 2016, the FASB issued ASU No. 2016-16, Income Taxes (Topic 740), Intra-Entity Transfers of Assets Other Than Inventory. The amendments of ASU No. 2016-16 were issued to improve the accounting for the income tax consequences of intra-entity transfers of assets other than inventory. Current GAAP prohibits the recognition of current and deferred income taxes for an intra-entity asset transfer until the asset has been sold to an outside party which has resulted in diversity in practice and increased complexity within financial reporting. The amendments of ASU No. 2016-16 would require an entity to recognize the income tax consequences of an intra-entity transfer of an asset other than inventory when the transfer occurs and do not require new disclosure requirements. The amendments of ASU No. 2016-16 are effective for annual reporting periods beginning after December 15, 2017, and interim periods within those annual periods. Early adoption is permitted and the adoption of ASU No. 2016-16 should be applied on a modified retrospective basis through a cumulative-effect adjustment directly to retained earnings as of the beginning of the period of adoption. The Company does not expect this standard to have an impact on its consolidated financial statements. In October 2016, the FASB issued ASU No. 2016-17, Consolidation (Topic 810), Interests Held through Related Parties That Are under Common Control. ASU No. 2016-17 updates ASU No. 2015-02. Under the amendments, a single decision maker is not required to consider indirect interests held through related parties that are under common control with the single decision maker to be the equivalent of direct interests in their entirety. Instead, a single decision maker is required to include those interests on a proportionate basis consistent with indirect interests held through other related parties. ASU No. 2016-17 is effective for annual reporting periods beginning after December 15, 2016, and interim periods within those annual periods, with early adoption permitted. The adoption of ASU No. 2016-17 as of January 1, 2017 did not have an impact on the Company's consolidated financial statements. In November 2016, the FASB issued ASU No. 2016-18, Statement of Cash Flows (Topic 320), Restricted Cash, a Consensus of the FASB Emerging Issues Task Force. The amendments require that a statement of cash flows explain the change during the period in the total of cash, cash equivalents and amounts generally described as restricted cash or restricted cash equivalents. Therefore, amounts generally described as restricted cash and restricted cash equivalents should be included with cash and cash equivalents when reconciling the beginning-of-period and end-of-period total amounts shown on the statement of cash flows. The amendments in this update do not provide a definition of restricted cash or restricted cash equivalents. ASU No. 2016-18 is effective for fiscal years beginning after December 15, 2017 and interim periods within those fiscal years. The Company is currently evaluating the effect of this standard on its consolidated financial statements. In December 2016, the FASB issued ASU No. 2016-19, Technical Corrections and Improvements. The amendments cover a wide range of topics in the Accounting Standards Codification, covering differences between original guidance and the Accounting Standards Codification, guidance clarification and reference corrections, simplification and minor improvements. The adoption of ASU No. 2016-19 is effective for annual periods, including interim periods within those annual periods, beginning after December 15, 2016. The Company evaluated this standard and determined that it did not have an impact on its consolidated financial statements. In December 2016, the FASB issued ASU No. 2016-20, Technical Corrections and Improvements to Topic 606, Revenue from Contracts with Customers. The amendments in this update are of a similar nature to the items typically addressed in ASU 2016-19, Technical Corrections and Improvements. However, the FASB decided to issue a separate update for technical corrections and improvements to Topic 606 and other Topics amended by ASU No. 2014-09 to increase stakeholders’ awareness of the proposals and to expedite improvements to ASU No. 2014-09. The adoption of ASU No. 2016-20 is effective for annual reporting periods beginning after December 15, 2017, including interim reporting periods within those annual periods. Early adoption is permitted only as of annual reporting periods beginning after December 15, 2016, including interim reporting periods within that reporting period. The Company is currently evaluating the effect of this standard on its consolidated financial statements. In January 2017, the FASB issued ASU No. 2017-01, Business Combinations (Topic 805), Clarifying the Definition of a Business. The amendment seeks to clarify the definition of a business with the objective of adding guidance to assist entities with evaluating whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses. The definition of a business affects many areas of accounting including acquisitions, disposals, goodwill and consolidation. The adoption of ASU No. 2017-01 is effective for annual periods beginning after December 15, 2017, including interim periods within those periods. The amendments should be applied prospectively on or after the effective dates. Accordingly, the adoption will not have an effect on the Company's historical financial statements. The Company is currently evaluating the effect of this standard on future consolidated financial statements. In January 2017, the FASB issued ASU No. 2017-04, Intangibles - Goodwill and Other (Topic 350), Simplifying the Test for Goodwill Impairment. The amendment simplifies the accounting for goodwill impairment by removing Step 2 of the current test, which requires calculation of a hypothetical purchase price allocation. Under the revised guidance, goodwill impairment will be measured as the amount by which a reporting unit’s carrying value exceeds its fair value, not to exceed the carrying amount of goodwill (currently Step 1 of the two step impairment test). Entities will continue to have the option to perform a qualitative assessment to determine if a quantitative impairment test is necessary. The standard is effective January 1, 2020, with early adoption permitted, and must be adopted on a prospective basis. This updated guidance is not currently expected to impact the Company's financial reporting as the Company does not have any goodwill. In February 2017, the FASB issued ASU No. 2017-05, Other Income - Gains and Losses from the Derecognition of Nonfinancial Assets (Subtopic 610-20): Clarifying the Scope of Asset Derecognition Guidance and Accounting for Partial Sales of Nonfinancial Assets. This ASU is meant to clarify the scope of ASC Subtopic 610-20, Other Income - Gains and Losses from the Derecognition of Nonfinancial Assets and to add guidance for partial sales of nonfinancial assets. ASU No. 2017-05 is to be applied using a full retrospective method or a modified retrospective method as outlined in the guidance and is effective at the same time as ASU No. 2014-09. Further, the Company is required to adopt ASU No. 2017-05 at the same time that it adopts the guidance in ASU No. 2014-09. The Company is currently evaluating the effect of this standard on its consolidated financial statements. In May 2017, the FASB issued ASU No. 2017-09, Compensation - Stock Compensation (Topic 718): Scope of Modification Accounting. The amendment clarifies when changes to the terms or conditions of a share-based payment award must be accounted for as a modification. The new guidance is expected to reduce diversity in practice and result in fewer changes to the terms of an award being accounted for as a modification. Changes to the terms or conditions of a share-based payment award that do not impact the fair value of the award, vesting conditions and the classification as an equity or liability instrument will not need to be assessed under modification accounting. The guidance is effective for annual periods, and interim periods within those annual periods, beginning after December 15, 2017. The amendments in this update should be applied prospectively to an award modified on or after the adoption date. Accordingly, the adoption will not have an effect on the Company's historical financial statements. The Company is currently evaluating the effect of this standard on future consolidated financial statements.
Earnings (Loss) Per Share	Loss per share is based upon the weighted average shares outstanding. Net loss attributable to Class A common stockholders is adjusted by the amount of deemed dividends related to the accretion of redeemable non-controlling interest and the amount of dividends paid on Class A shares and participating RSAs. Unvested RSAs that contain non-forfeitable rights to dividends are treated as participating securities and are included in the loss per share computation using the two-class method, to the extent that there are undistributed earnings available as such securities do not participate in losses.
Segment Reporting	The Company has two reportable segments: Solar and Wind. These segments comprise the Company's entire portfolio of renewable energy facility assets and are determined based on the management approach. This approach designates the internal reporting used by management for making decisions and assessing performance as the source of the reportable segments. The Company’s operating segments consist of Distributed Generation, North America Utility and International Utility that are aggregated into the Solar reportable segment and Northeast Wind, Central Wind and Hawaii Wind that are aggregated into the Wind reportable segment. The operating segments have been aggregated as they have similar economic characteristics and meet all of the aggregation criteria. Corporate expenses include general and administrative expenses, acquisition costs, interest expense on corporate-level indebtedness, stock-based compensation and depreciation, accretion and amortization expense. All net operating revenues for the three months ended March 31, 2017 and 2016 were earned by the Company's reportable segments from external customers in the United States (including Puerto Rico), Canada, the United Kingdom and Chile.

Assets Held for Sale (Tables)

3 Months Ended

Mar. 31, 2017

Discontinued Operations and Disposal Groups [Abstract]

Summary of Assets and Liabilities Held for Sale



	As of March 31, 2017						As of December 31, 2016
(In thousands)	U.K. Portfolio		Residential Portfolio		Total		U.K. Portfolio		Residential Portfolio		Total
Assets held for sale:
Cash and cash equivalents	$	14,104	$	—	$	14,104	$	—	$	—	$	—
Restricted cash	21,000		262		21,262		53,604		1,202		54,806
Accounts receivable, net	5,438		260		5,698		4,952		300		5,252
Prepaid expenses and other current assets	976		—		976		1,295		170		1,465
Total current assets held for sale	41,518		522		42,040		59,851		1,672		61,523

Renewable energy facilities, net	535,508		14,171		549,679		529,154		19,534		548,688
Intangible assets, net	1,498		—		1,498		1,480		—		1,480
Other assets	3,153		—		3,153		2,103		—		2,103
Total non-current assets held for sale	540,159		14,171		554,330		532,737		19,534		552,271

Total assets held for sale	$	581,677	$	14,693	$	596,370	$	592,588	$	21,206	$	613,794

Liabilities related to assets held for sale:
Current portion of long-term debt	$	14,684	$	—	$	14,684	$	14,510	$	175	$	14,685
Accounts payable, accrued expenses and other current liabilities	9,075		81		9,156		5,980		245		6,225
Deferred revenue	—		10		10		—		10		10
Due to SunEdison, net	—		—		—		692		186		878
Total current liabilities related to assets held for sale	23,759		91		23,850		21,182		616		21,798

Long-term debt, less current portion	353,928		—		353,928		349,687		4,190		353,877
Deferred revenue, less current portion	—		246		246		—		246		246
Asset retirement obligations	40,552		—		40,552		39,563		287		39,850
Other long-term liabilities	18,275		—		18,275		16,786		—		16,786
Total non-current liabilities related to assets held for sale	412,755		246		413,001		406,036		4,723		410,759

Total liabilities related to assets held for sale	$	436,514	$	337	$	436,851	$	427,218	$	5,339	$	432,557

- Definition

Tabular disclosure of information related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 45
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=65878427&loc=SL51721533-107759

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 4B
-URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721665-107760

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=64827811&loc=d3e1474-107760

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=64827811&loc=d3e1361-107760

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721683-107760

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 360
-SubTopic 10
-Section 50
-Paragraph 3A
-URI http://asc.fasb.org/extlink&oid=84176398&loc=SL51724579-110230

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 5C
-URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721675-107760

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 4A
-URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721663-107760

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 360
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=84176398&loc=d3e2941-110230

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 5B
-URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721673-107760

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 3A
-URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721659-107760

Reference 12: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 5A
-URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721671-107760

Reference 13: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 5D
-URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721677-107760

+ Details

Renewable Energy Facilities (Tables)

3 Months Ended

Mar. 31, 2017

Property, Plant and Equipment [Abstract]

Renewable Energy Facilities

Renewable energy facilities, net consists of the following:



(In thousands)	March 31, 2017			December 31, 2016
Renewable energy facilities in service, at cost	$	5,355,826		$	5,354,883
Less accumulated depreciation - renewable energy facilities	(416,512		)	(364,756		)
Renewable energy facilities in service, net	4,939,314			4,990,127
Construction in progress - renewable energy facilities	2,917			3,124
Total renewable energy facilities, net	$	4,942,231		$	4,993,251

Intangibles (Tables)

3 Months Ended

Mar. 31, 2017

Goodwill and Intangible Assets Disclosure [Abstract]

Gross Carrying Amount and Accumulated Amortization of Intangibles

The following table presents the gross carrying amount, accumulated amortization and net book value of intangibles as of March 31, 2017:



(In thousands, except weighted average amortization period)	Weighted Average Amortization Period	Gross Carrying Amount		Accumulated Amortization			Net Book Value
Favorable rate revenue contracts	15 years	$	715,377	$	(68,915	)	$	646,462
In-place value of market rate revenue contracts	19 years	518,442		(53,667		)	464,775
Favorable rate land leases	18 years	15,800		(1,730		)	14,070
Total intangible assets, net		$	1,249,619	$	(124,312	)	$	1,125,307

Unfavorable rate revenue contracts	7 years	$	35,086	$	(11,880	)	$	23,206
Unfavorable rate O&M contracts	3 years	5,000		(1,615		)	3,385
Unfavorable rate land lease	16 years	1,000		(120		)	880
Total intangible liabilities, net		$	41,086	$	(13,615	)	$	27,471

The following table presents the gross carrying amount, accumulated amortization and net book value of intangibles as of December 31, 2016:



(In thousands, except weighted average amortization period)	Weighted Average Amortization Period	Gross Carrying Amount		Accumulated Amortization			Net Book Value
Favorable rate revenue contracts	16 years	$	714,758	$	(57,634	)	$	657,124
In-place value of market rate revenue contracts	20 years	518,003		(47,284		)	470,719
Favorable rate land leases	18 years	15,800		(1,531		)	14,269
Total intangible assets, net		$	1,248,561	$	(106,449	)	$	1,142,112

Unfavorable rate revenue contracts	7 years	$	35,086	$	(10,541	)	$	24,545
Unfavorable rate O&M contracts	3 years	5,000		(1,302		)	3,698
Unfavorable rate land lease	16 years	1,000		(107		)	893
Total intangible liabilities, net		$	41,086	$	(11,950	)	$	29,136

Variable Interest Entities (Tables)

3 Months Ended

Mar. 31, 2017

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Carrying Amounts and Classification of Consolidated VIE's Assets and Liabilities

The carrying amounts and classification of the consolidated VIEs’ assets and liabilities included in the Company's unaudited condensed consolidated balance sheets are as follows:



(In thousands)	March 31, 2017		December 31, 2016
Current assets	$	179,648	$	191,244
Non-current assets	4,315,546		4,351,635
Total assets	$	4,495,194	$	4,542,879
Current liabilities	$	645,232	$	638,452
Non-current liabilities	512,554		514,464
Total liabilities	$	1,157,786	$	1,152,916

- Definition

Tabular disclosure of the significant judgments and assumptions made in determining whether a variable interest (as defined) held by the entity requires the variable interest entity (VIE) (as defined) to be consolidated and (or) disclose information about its involvement with the VIE, individually or in aggregate (as applicable); the nature of restrictions, if any, on the consolidated VIE's assets and on the settlement of its liabilities reported by an entity in its statement of financial position, including the carrying amounts of such assets and liabilities; the nature of, and changes in, the risks associated with involvement in the VIE; how involvement with the VIE affects the entity's financial position, financial performance, and cash flows; the lack of recourse if creditors (or beneficial interest holders) of the consolidated VIE have no recourse to the general credit of the primary beneficiary (if applicable); the terms of arrangements, giving consideration to both explicit arrangements and implicit variable interests, if any, that could require the entity to provide financial support to the VIE, including events or circumstances that could expose the entity to a loss; the methodology used by the entity for determining whether or not it is the primary beneficiary of the variable interest entity; the significant factors considered and judgments made in determining that the power to direct the activities of a VIE that most significantly impact the VIE's economic performance are shared (as defined); the carrying amounts and classification of assets and liabilities of the VIE included in the statement of financial position; the entity's maximum exposure to loss, if any, as a result of its involvement with the VIE, including how the maximum exposure is determined and significant sources of the entity's exposure to the VIE; a comparison of the carrying amounts of the assets and liabilities and the entity's maximum exposure to loss; information about any liquidity arrangements, guarantees, and (or) other commitments by third parties that may affect the fair value or risk of the entity's variable interest in the VIE; whether or not the entity has provided financial support or other support (explicitly or implicitly) to the VIE that it was not previously contractually required to provide or whether the entity intends to provide that support, including the type and amount of the support and the primary reasons for providing the support; and supplemental information the entity determines necessary to provide.

+ References + Details

Long-term Debt (Tables)

3 Months Ended

Mar. 31, 2017

Debt Disclosure [Abstract]

Schedule of Debt

Long-term debt consists of the following:



(In thousands, except rates)	March 31, 2017			December 31, 2016			Interest Type	Interest Rate (%)¹	Financing Type
Corporate-level long-term debt²:
Senior Notes due 2023	$	950,000		$	950,000		Fixed	6.38	Senior notes
Senior Notes due 2025	300,000			300,000			Fixed	6.63	Senior notes
Revolver	547,000			552,000			Variable	4.06	Revolving loan
Non-recourse long-term debt³:
Permanent financing	2,149,437			2,078,009			Blended⁴	5.91⁵	Term debt / Senior notes
Financing lease obligations	122,769			123,930			Imputed	5.63⁵	Financing lease obligations
Total principal due for long-term debt and financing lease obligations	4,069,206			4,003,939				5.81⁵
Unamortized discount, net	(14,326		)	(13,620		)
Deferred financing costs, net	(38,470		)	(39,405		)
Less current portion of long-term debt and financing lease obligations⁶	(2,202,661		)	(2,212,968		)
Long-term debt and financing lease obligations, less current portion⁷	$	1,813,749		$	1,737,946

———


(1)	As of March 31, 2017.


(2)	Corporate-level debt represents debt issued by Terra Operating LLC and guaranteed by Terra LLC and certain subsidiaries of Terra Operating LLC other than non-recourse subsidiaries as defined in the relevant debt agreements.


(3)	Non-recourse debt represents debt issued by subsidiaries with no recourse to Terra LLC, Terra Operating LLC or guarantors of the Company's corporate-level debt, other than limited or capped contingent support obligations, which in aggregate are not considered to be material to the Company's business and financial condition.


(4)	Includes variable rate debt and fixed rate debt. As of March 31, 2017, 53% of this balance had a variable interest rate and the remaining 47% of this balance had a fixed interest rate. The Company has entered into interest rate swap agreements to fix the interest rates of certain variable rate permanent financing non-recourse debt (see Note 8. Derivatives).


(5)	Represents the weighted average interest rate as of March 31, 2017.


(6)	As of March 31, 2017 and December 31, 2016, the Company reclassified $14.7 million from current portion of long-term debt and financing lease obligations to current liabilities related to assets held for sale in the unaudited condensed consolidated balance sheets (see Note 2. Assets Held for Sale).


(7)	As of March 31, 2017 and December 31, 2016, the Company reclassified $353.9 million from long-term debt and financing lease obligations, less current portion to non-current liabilities related to assets held for sale in the unaudited condensed consolidated balance sheets (see Note 2. Assets Held for Sale).

Aggregate Contractual Payments of Long-term Debt



(In thousands)	Remainder of 2017¹		2018		2019		2020		2021		Thereafter		Total
Maturities of long-term debt as of March 31, 2017²	$	733,218	$	114,066	$	453,956	$	100,748	$	104,271	$	2,562,947	$	4,069,206

———

(1)

(2)

Income Taxes (Tables)

3 Months Ended

Mar. 31, 2017

Income Tax Disclosure [Abstract]

Components of Income Tax Provision

The income tax provision consisted of the following:



	Three Months Ended March 31,
(In thousands, except effective tax rate)	2017			2016
Loss before income tax (benefit) expense	$	(57,191	)	$	(33,408	)
Income tax (benefit) expense	(918		)	97
Effective tax rate	1.6		%	(0.3		)%

Derivatives (Tables)

3 Months Ended

Mar. 31, 2017

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Fair Values of Derivative Instruments

As of March 31, 2017 and December 31, 2016, fair values of the following derivative instruments were included in the balance sheet captions indicated below:



	Fair Value of Derivative Instruments
	Hedging Contracts				Derivatives Not Designated as Hedges
(In thousands)	Interest Rate Swaps		Commodity Contracts		Interest Rate Swaps		Foreign Currency Contracts		Commodity Contracts		Gross Amounts of Assets/Liabilities Recognized		Gross Amounts Offset in Consolidated Balance Sheet		Net Amounts in Consolidated Balance Sheet
As of March 31, 2017
Prepaid expenses and other current assets	$	1,626	$	8,112	$	—	$	835	$	12,491	$	23,064	$	—	$	23,064
Other assets	418		79,206		—		202		23,988		103,814		—		103,814
Total assets	$	2,044	$	87,318	$	—	$	1,037	$	36,479	$	126,878	$	—	$	126,878
Accounts payable, accrued expenses and other current liabilities	$	10,066	$	—	$	737	$	—	$	—	$	10,803	$	—	$	10,803
Liabilities related to assets held for sale	—		—		3,119		—		—		3,119		—		3,119
Other long-term liabilities	—		—		—		—		—		—		—		—
Non-current liabilities related to assets held for sale	—		—		18,275		—		—		18,275		—		18,275
Total liabilities	$	10,066	$	—	$	22,131	$	—	$	—	$	32,197	$	—	$	32,197

As of December 31, 2016
Prepaid expenses and other current assets	$	1,150	$	3,664	$	—	$	953	$	12,028	$	17,795	$	—	$	17,795
Other assets	411		62,474		—		460		25,167		88,512		—		88,512
Total assets	$	1,561	$	66,138	$	—	$	1,413	$	37,195	$	106,307	$	—	$	106,307
Accounts payable, accrued expenses and other current liabilities	$	10,689	$	—	$	814	$	—	$	—	$	11,503	$	—	$	11,503
Liabilities related to assets held for sale	—		—		4,041		—		—		4,041		—		4,041
Other long-term liabilities	47		—		—		—		—		47		—		47
Non-current liabilities related to assets held for sale	—		—		16,786		—		—		16,786		—		16,786
Total liabilities	$	10,736	$	—	$	21,641	$	—	$	—	$	32,377	$	—	$	32,377

Schedule of Notional Amounts for Derivative Instruments

As of March 31, 2017 and December 31, 2016, notional amounts for derivative instruments consisted of the following:



	Notional Amount as of
(In thousands)	March 31, 2017	December 31, 2016
Derivatives designated as hedges:
Interest rate swaps (USD)	425,744	433,874
Interest rate swaps (CAD)	163,668	84,713
Commodity contracts (MWhs)	16,610	16,988
Derivatives not designated as hedges:
Interest rate swaps (USD)	14,655	14,681
Interest rate swaps (GBP)	222,018	222,018
Foreign currency contracts (CAD)	21,875	25,075
Commodity contracts (MWhs)	1,275	1,407

Gains and Losses on Derivatives Not Designated As Hedges

Gains and losses on derivatives not designated as hedges for the three months ended March 31, 2017 and 2016 consisted of the following:



	Location of Loss (Gain) in the Statements of Operations	Three Months Ended March 31,
(In thousands)	Location of Loss (Gain) in the Statements of Operations	2017			2016
Interest rate swaps	Interest expense, net	$	1,374		$	540
Foreign currency contracts	Loss on foreign currency exchange, net	213			536
Commodity contracts	Operating revenues, net	(4,113		)	(8,461		)

Gains and Losses Recognized Related to Interest Rate Swaps and Commodity Contracts Designated as Cash Flow Hedges

Gains and losses recognized related to interest rate swaps and commodity contracts designated as cash flow hedges for the three months ended March 31, 2017 and 2016 consisted of the following:



	Three Months Ended March 31,
	Gain (Loss) Recognized in Other Comprehensive Income (Effective Portion) net of taxes¹						Location of Amount Reclassified from Accumulated Other Comprehensive Income into Income (Effective Portion)	Amount of (Gain) Loss Reclassified from Accumulated Other Comprehensive Income into Income (Effective Portion)						Amount of (Gain) Loss Recognized in Income (Ineffective Portion and Amount Excluded from Effectiveness Testing)
(In thousands)	2017			2016				2017			2016			2017			2016
Interest rate swaps	$	(1,619	)	$	(32,193	)	Interest expense, net	$	2,861		$	3,433		$	(326	)	$	328
Commodity contracts	15,673			(772		)	Operating revenues, net	(3,247		)	(3,064		)	(2,918		)	2,188
Total	$	14,054		$	(32,965	)		$	(386	)	$	369		$	(3,244	)	$	2,516

————


(1)	Net of taxes of $5.8 million attributed to commodity contracts during the three months ended March 31, 2017. There were no taxes attributed to interest rate swaps during the three months ended March 31, 2017, and there were no taxes attributed to derivatives designated as cash flow hedges during the three months ended March 31, 2016.

Fair Value of Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2017

Fair Value Disclosures [Abstract]

Financial Instruments Measured at Fair Value on a Recurring Basis



(In thousands)	As of March 31, 2017								As of December 31, 2016
Assets	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Interest rate swaps	$	—	$	2,044	$	—	$	2,044	$	—	$	1,561	$	—	$	1,561
Commodity contracts	—		36,479		87,318		123,797		—		37,195		66,138		103,333
Foreign currency contracts	—		1,037		—		1,037		—		1,413		—		1,413
Total derivative assets	$	—	$	39,560	$	87,318	$	126,878	$	—	$	40,169	$	66,138	$	106,307
Liabilities
Interest rate swaps	$	—	$	32,197	$	—	$	32,197	$	—	$	32,377	$	—	$	32,377
Foreign currency contracts	—		—		—		—		—		—		—		—
Total derivative liabilities	$	—	$	32,197	$	—	$	32,197	$	—	$	32,377	$	—	$	32,377

Changes in the Fair Value of Derivative Instruments Classified as Level 3

The following table reconciles the changes in the fair value of derivative instruments classified as Level 3 in the fair value hierarchy for the three months ended March 31, 2017 and 2016:



	Three Months Ended March 31,
(In thousands)	2017			2016
Beginning balance	$	66,138		$	63,154
Realized and unrealized gains (losses):
Included in other comprehensive income (loss)	18,262			(3,836		)
Included in operating revenues, net	6,165			(2,188		)
Settlements	(3,247		)	—
Balance as of March 31	$	87,318		$	57,130

Significant Unobservable Inputs Used in Valuation of Commodity Contracts

The significant unobservable inputs used in the valuation of the Company's commodity contracts categorized as Level 3 of the fair value hierarchy as of March 31, 2017 are as follows:



(In thousands, except range)	Fair Value as of March 31, 2017
Transaction Type	Assets		Liabilities		Valuation Technique	Unobservable Inputs	Range
Commodity contracts - power	$	87,318	$	—	Discounted cash flow	Forward price (per MWh)	$	13.6		-	$	78.2
					Option model	Volatilities	3.1		%	-	8.2		%

Sensitivity of Fair Value Measurements to Increases (Decreases) in Significant Unobservable Inputs

The sensitivity of the Company's fair value measurements to increases (decreases) in the significant unobservable inputs is as follows:



Significant Unobservable Input	Position	Impact on Fair Value Measurement
Increase (decrease) in forward price	Forward sale	Decrease (increase)
Increase (decrease) in implied volatilities	Purchase option	Increase (decrease)

Sensitivity of Fair Value Measurements to Increases (Decreases) in Significant Unobservable Inputs

The sensitivity of the Company's fair value measurements to increases (decreases) in the significant unobservable inputs is as follows:



Significant Unobservable Input	Position	Impact on Fair Value Measurement
Increase (decrease) in forward price	Forward sale	Decrease (increase)
Increase (decrease) in implied volatilities	Purchase option	Increase (decrease)

Carrying Amount and Estimated Fair Value of Long-term Debt

The carrying amount and estimated fair value of the Company's long-term debt as of March 31, 2017 and December 31, 2016 is as follows:



	As of March 31, 2017				As of December 31, 2016
(In thousands)	Carrying Amount		Fair Value		Carrying Amount		Fair Value
Long-term debt, including current portion	$	4,016,410	$	4,175,169	$	3,950,914	$	4,080,397

Stockholders' Equity (Tables)

3 Months Ended

Mar. 31, 2017

Equity [Abstract]

Outstanding Shares

As of March 31, 2017, the following shares of TerraForm Power were outstanding:



Share Class:	Shares Outstanding	Shareholder(s)
Class A common stock	92,247,740	*
Class B common stock	48,202,310	SunEdison
Total Shares	140,450,050

———

- Definition

Tabular disclosure of an entity's stock, including par or stated value per share, number and dollar amount of share subscriptions, shares authorized, shares issued, shares outstanding, number and dollar amount of shares held in an employee trust, dividend per share, total dividends, share conversion features, par value plus additional paid in capital, the value of treasury stock and other information necessary to a fair presentation, and EPS information. Stock by class includes common, convertible, and preferred stocks which are not redeemable or redeemable solely at the option of the issuer. Includes preferred stock with redemption features that are solely within the control of the issuer and mandatorily redeemable stock if redemption is required to occur only upon liquidation or termination of the reporting entity. If more than one issue is outstanding, state the title of each issue and the corresponding dollar amount; dollar amount of any shares subscribed but unissued and the deduction of subscriptions receivable there from; number of shares authorized, issued, and outstanding.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
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Reference 2: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
-Topic 480
-SubTopic 10
-Section S99
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=65877616&loc=d3e177068-122764

Reference 3: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(d))
-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

Reference 4: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(29))
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Reference 5: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
-Topic 505
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-Subparagraph (SX 210.3-04)
-URI http://asc.fasb.org/extlink&oid=27012166&loc=d3e187085-122770

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
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-URI http://asc.fasb.org/extlink&oid=84159872&loc=d3e21553-112644

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
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Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
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Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(27))
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Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 12: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
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Reference 13: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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-URI http://asc.fasb.org/extlink&oid=84159872&loc=d3e21538-112644

Reference 14: http://www.xbrl.org/2003/role/presentationRef
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-URI http://asc.fasb.org/extlink&oid=84159872&loc=d3e21488-112644

+ Details

Stock-based Compensation (Tables)

3 Months Ended

Mar. 31, 2017

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Restricted Stock Awards Activity

The following table presents information regarding outstanding RSAs as of March 31, 2017 and changes during the period then ended:



	Number of RSAs Outstanding		Weighted-Average Grant-Date Fair Value Per Share		Aggregate Intrinsic Value (in millions)
Balance at January 1, 2017	366,195		$	8.51
Converted	(366,195	)	8.51
Balance as of March 31, 2017	—		$	—	$	—

Restricted Stock Units Activity

The following table presents information regarding outstanding RSUs as of March 31, 2017 and changes during the period then ended:



	Number of RSUs Outstanding		Aggregate Intrinsic Value (in millions)		Weighted Average Remaining Contractual Life (In Years)
Balance at January 1, 2017	1,622,953
Granted	185,980
Converted	(35,900	)
Forfeited	(296,243	)
Balance as of March 31, 2017	1,476,790		$	18.3	1.0

Loss Per Share (Tables)

3 Months Ended

Mar. 31, 2017

Earnings Per Share [Abstract]

Basic and Diluted Loss Per Share of Class A Common Stock

Basic and diluted loss per share of the Company's Class A common stock for the three months ended March 31, 2017 and 2016 was calculated as follows:



	Three Months Ended March 31,
(In thousands, except per share amounts)	2017			2016
Basic and diluted loss per share¹:
Net loss attributable to Class A common stockholders	$	(31,769	)	$	(481	)
Less: accretion of redeemable non-controlling interest	(2,226		)	—
Less: dividends paid on Class A shares and participating RSAs	—			—
Undistributed loss attributable to Class A shares	$	(33,995	)	$	(481	)

Weighted average basic and diluted Class A shares outstanding	92,072			87,833

Distributed earnings per share	$	—		$	—
Undistributed loss per share	(0.37		)	(0.01		)
Basic and diluted loss per share	$	(0.37	)	$	(0.01	)

———

(1)

Non-controlling Interests (Tables)

3 Months Ended

Mar. 31, 2017

Noncontrolling Interest [Abstract]

Non-controlling Interest Balances

The following table presents the non-controlling interest balances reported in stockholders’ equity in the unaudited condensed consolidated balance sheets as of March 31, 2017 and December 31, 2016:



(In thousands)	March 31, 2017		December 31, 2016
SunEdison's non-controlling interest in Terra LLC	$	645,982	$	660,799
Non-controlling interests in renewable energy facilities	797,027		804,243
Total non-controlling interests	$	1,443,009	$	1,465,042

Activity of Redeemable Non-controlling Interests

The following table presents the activity of the redeemable non-controlling interests balance for the three months ended March 31, 2017:



	Redeemable Non-controlling Interests
(In thousands)	Capital			Retained Earnings		Total
Balance as of December 31, 2016	$	153,490		$	26,877	$	180,367
Distributions	(3,157		)	—		(3,157		)
Accretion of redeemable non-controlling interest	2,226			—		2,226
Net income	—			835		835
Balance as of March 31, 2017	$	152,559		$	27,712	$	180,271

Segment Reporting (Tables)

3 Months Ended

Mar. 31, 2017

Segment Reporting [Abstract]

Summarized Financial Information of Reportable Segments

The following table reflects summarized financial information concerning the Company’s reportable segments for the three months ended March 31, 2017 and 2016:



	Three Months Ended March 31, 2017
(In thousands)	Solar			Wind		Corporate			Total
Operating revenues, net	$	66,001		$	85,134	$	—		$	151,135
Depreciation, accretion and amortization expense	26,775			33,451		761			60,987
Other operating costs and expenses	13,908			25,161		39,011			78,080
Interest expense, net	19,581			20,899		27,832			68,312
Other non-operating (income) expenses, net	(42		)	548		441			947
Income tax benefit¹	—			—		(918		)	(918		)
Net income (loss)	$	5,779		$	5,075	$	(67,127	)	$	(56,273	)
Balance Sheet
Total assets²	$	3,537,803		$	3,620,311	$	598,997		$	7,757,111



	Three Months Ended March 31, 2016
(In thousands)	Solar		Wind		Corporate			Total
Operating revenues, net	$	71,148	$	82,769	$	—		$	153,917
Depreciation, accretion and amortization expense	31,809		27,127		71			59,007
Other operating costs and expenses	18,569		21,928		21,908			62,405
Interest expense, net	18,430		21,051		29,513			68,994
Other non-operating expenses (income), net	1,249		206		(4,536		)	(3,081		)
Income tax expense¹	—		—		97			97
Net income (loss)	$	1,091	$	12,457	$	(47,053	)	$	(33,505	)
Balance Sheet
Total assets²	$	3,595,387	$	3,609,471	$	501,007		$	7,705,865

———


(1)	Income tax (benefit) expense is not allocated to the Company's Solar and Wind segments.


(2)	Represents total assets as of March 31, 2017 and December 31, 2016, respectively.

Other Comprehensive Income (Loss) (Tables)

3 Months Ended

Mar. 31, 2017

Equity [Abstract]

Changes in Accumulated Other Comprehensive Income

The following table presents the changes in each component of accumulated other comprehensive income, net of tax, for the three months ended March 31, 2017:



(In thousands)	Foreign Currency Translation Adjustments			Hedging Activities			Accumulated Other Comprehensive Income
Balance as of December 31, 2016	$	(22,133	)	$	45,045		$	22,912
Net unrealized gain arising during the period	2,680			14,054			16,734
Reclassification of net realized loss (gain) into earnings:
Interest expense, net	—			2,861			2,861
Operating revenues, net	—			(3,247		)	(3,247		)
Other comprehensive income	2,680			13,668			16,348
Accumulated other comprehensive (loss) income	(19,453		)	58,713			39,260
Less: Other comprehensive income attributable to non-controlling interests	918			5,972			6,890
Balance as of March 31, 2017	$	(20,371	)	$	52,741		$	32,370

Components of Comprehensive Income (Loss)

The following tables present each component of other comprehensive income (loss) and the related tax effects for the three months ended March 31, 2017 and 2016:



	Three Months Ended March 31,
	2017									2016
(In thousands)	Before Tax			Tax Effect			Net of Tax			Before Tax			Tax Effect		Net of Tax
Foreign currency translation adjustments:
Net unrealized gain arising during the period	$	2,680		$	—		$	2,680		$	6,573		$	—	$	6,573
Hedging activities:
Net unrealized gain (loss) arising during the period	19,890			(5,836		)	14,054			(32,965		)	—		(32,965		)
Reclassification of net realized (gain) loss into earnings	(386		)	—			(386		)	369			—		369
Net change	19,504			(5,836		)	13,668			(32,596		)	—		(32,596		)
Other comprehensive income (loss)	$	22,184		$	(5,836	)	16,348			$	(26,023	)	$	—	(26,023		)
Less: Other comprehensive income (loss) attributable to non-controlling interests, net of tax							6,890								(9,309		)
Other comprehensive income (loss) attributable to Class A common stockholders							$	9,458							$	(16,714	)

Nature of Operations and Basis of Presentation (Details)	Mar. 06, 2017 USD ($) shares
Brookfield Asset Management
Noncontrolling Interest [Line Items]
Voting interests acquired	51.00%
Class A common stock \| SunEdison
Noncontrolling Interest [Line Items]
Shares received (shares) \| shares	48,202,310
Equity held	36.90%
Brookfield Asset Management
Noncontrolling Interest [Line Items]
Termination fee	$ 50,000,000.0
Maximum \| Brookfield Asset Management
Noncontrolling Interest [Line Items]
Reimbursable expenses	$ 17,000,000.0

Assets Held for Sale - Narrative (Details) £ in Millions			2 Months Ended	3 Months Ended			12 Months Ended
Assets Held for Sale - Narrative (Details) £ in Millions	Jun. 30, 2017	Mar. 14, 2017 MW	Aug. 29, 2017 USD ($)	Mar. 31, 2017 USD ($)	Dec. 31, 2016 USD ($) power_plant MW	Sep. 30, 2016 USD ($)	Dec. 31, 2016 USD ($) power_plant MW	Jun. 12, 2017 MW	May 11, 2017 GBP (£) MW	May 11, 2017 USD ($) MW
Power Plants Sold In The United Kingdom \| Disposal Group, Held-for-sale, Not Discontinued Operations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of operating projects \| power_plant					24		24
Capacity (MW) \| MW					365.0		365.0
Impairment charge				$ 0			$ 0
Subsequent Event \| Sale to Vortex Solar \| Disposal Group, Held-for-sale, Not Discontinued Operations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Capacity (MW) \| MW									11.1	11.1
Consideration received										$ 211,000,000
Reduction of non-recourse project debt \| £									£ 301
Residential Rooftop Solar Assets
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Capacity (MW) \| MW					11.4		11.4
Impairment charge					$ 15,700,000
Abandonment charge						$ 3,300,000
Enfinity Colorado DHA 1
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Capacity (MW) \| MW		2.5
Consideration received				1,100,000
Membership interest sold		100.00%
Loss on disposal				$ 0
TerraForm Resi Solar Manager \| Subsequent Event
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Capacity (MW) \| MW								8.9
Membership interest sold	100.00%
Proceeds from sale of assets			$ 6,000,000

Assets Held for Sale - Summary of Assets and Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Assets held for sale:
Total current assets held for sale	$ 42,040	$ 61,523
Total non-current assets held for sale	554,330	552,271
Liabilities related to assets held for sale:
Total current liabilities related to assets held for sale	23,850	21,798
Total non-current liabilities related to assets held for sale	413,001	410,759
Disposal Group, Held-for-sale, Not Discontinued Operations
Assets held for sale:
Cash and cash equivalents	14,104	0
Restricted cash	21,262	54,806
Accounts receivable, net	5,698	5,252
Prepaid expenses and other current assets	976	1,465
Total current assets held for sale	42,040	61,523
Renewable energy facilities, net	549,679	548,688
Intangible assets, net	1,498	1,480
Other assets	3,153	2,103
Total non-current assets held for sale	554,330	552,271
Total assets held for sale	596,370	613,794
Liabilities related to assets held for sale:
Current portion of long-term debt	14,684	14,685
Accounts payable, accrued expenses and other current liabilities	9,156	6,225
Deferred revenue	10	10
Due to SunEdison, net	0	878
Total current liabilities related to assets held for sale	23,850	21,798
Long-term debt, less current portion	353,928	353,877
Deferred revenue, less current portion	246	246
Asset retirement obligations	40,552	39,850
Other long-term liabilities	18,275	16,786
Total non-current liabilities related to assets held for sale	413,001	410,759
Total liabilities related to assets held for sale	436,851	432,557
U.K. Portfolio \| Disposal Group, Held-for-sale, Not Discontinued Operations
Assets held for sale:
Cash and cash equivalents	14,104	0
Restricted cash	21,000	53,604
Accounts receivable, net	5,438	4,952
Prepaid expenses and other current assets	976	1,295
Total current assets held for sale	41,518	59,851
Renewable energy facilities, net	535,508	529,154
Intangible assets, net	1,498	1,480
Other assets	3,153	2,103
Total non-current assets held for sale	540,159	532,737
Total assets held for sale	581,677	592,588
Liabilities related to assets held for sale:
Current portion of long-term debt	14,684	14,510
Accounts payable, accrued expenses and other current liabilities	9,075	5,980
Deferred revenue	0	0
Due to SunEdison, net	0	692
Total current liabilities related to assets held for sale	23,759	21,182
Long-term debt, less current portion	353,928	349,687
Deferred revenue, less current portion	0	0
Asset retirement obligations	40,552	39,563
Other long-term liabilities	18,275	16,786
Total non-current liabilities related to assets held for sale	412,755	406,036
Total liabilities related to assets held for sale	436,514	427,218
Residential Portfolio \| Disposal Group, Held-for-sale, Not Discontinued Operations
Assets held for sale:
Cash and cash equivalents	0	0
Restricted cash	262	1,202
Accounts receivable, net	260	300
Prepaid expenses and other current assets	0	170
Total current assets held for sale	522	1,672
Renewable energy facilities, net	14,171	19,534
Intangible assets, net	0	0
Other assets	0	0
Total non-current assets held for sale	14,171	19,534
Total assets held for sale	14,693	21,206
Liabilities related to assets held for sale:
Current portion of long-term debt	0	175
Accounts payable, accrued expenses and other current liabilities	81	245
Deferred revenue	10	10
Due to SunEdison, net	0	186
Total current liabilities related to assets held for sale	91	616
Long-term debt, less current portion	0	4,190
Deferred revenue, less current portion	246	246
Asset retirement obligations	0	287
Other long-term liabilities	0	0
Total non-current liabilities related to assets held for sale	246	4,723
Total liabilities related to assets held for sale	$ 337	$ 5,339

Renewable Energy Facilities (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Dec. 31, 2016
Property, Plant and Equipment, Net, by Type [Abstract]
Total renewable energy facilities, net	$ 4,942,231		$ 4,993,251
Depreciation expense	52,200	$ 49,200
Renewable Energy Facilities in Service
Property, Plant and Equipment, Net, by Type [Abstract]
Renewable energy facilities, gross	5,355,826		5,354,883
Less accumulated depreciation - renewable energy facilities	(416,512)		(364,756)
Total renewable energy facilities, net	4,939,314		4,990,127
Construction in Progress - Renewable Energy Facilities
Property, Plant and Equipment, Net, by Type [Abstract]
Renewable energy facilities, gross	2,917		3,124
Disposal Group, Held-for-sale, Not Discontinued Operations
Property, Plant and Equipment, Net, by Type [Abstract]
Renewable energy facilities reclassified to assets held for sale	$ 549,679		$ 548,688

Intangibles (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
Intangibles (Details) - USD ($) $ in Thousands	Mar. 31, 2017	Mar. 31, 2016	Dec. 31, 2016
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Gross Carrying Amount	$ 41,086		$ 41,086
Accumulated Amortization	(13,615)		(11,950)
Net Book Value	27,471		29,136
Total intangible assets, net
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Gross Carrying Amount	1,249,619		1,248,561
Accumulated Amortization	(124,312)		(106,449)
Net Book Value	$ 1,125,307		1,142,112
Total intangible assets, net \| Minimum
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Amortization period	1 year
Total intangible assets, net \| Maximum
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Amortization period	28 years
Favorable rate revenue contracts
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Gross Carrying Amount	$ 715,377		714,758
Accumulated Amortization	(68,915)		(57,634)
Net Book Value	$ 646,462		$ 657,124
Favorable rate revenue contracts \| Weighted average
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Weighted Average Amortization Period	15 years		16 years
In-place value of market rate revenue contracts
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Gross Carrying Amount	$ 518,442		$ 518,003
Accumulated Amortization	(53,667)		(47,284)
Net Book Value	$ 464,775		$ 470,719
In-place value of market rate revenue contracts \| Weighted average
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Weighted Average Amortization Period	19 years		20 years
Favorable rate land leases
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Gross Carrying Amount	$ 15,800		$ 15,800
Accumulated Amortization	(1,730)		(1,531)
Net Book Value	$ 14,070		$ 14,269
Favorable rate land leases \| Weighted average
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Weighted Average Amortization Period	18 years		18 years
Unfavorable rate revenue contracts
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Gross Carrying Amount	$ 35,086		$ 35,086
Accumulated Amortization	(11,880)		(10,541)
Net Book Value	$ 23,206		$ 24,545
Unfavorable rate revenue contracts \| Weighted average
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Weighted Average Amortization Period	7 years		7 years
Unfavorable rate O&M contracts
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Gross Carrying Amount	$ 5,000		$ 5,000
Accumulated Amortization	(1,615)		(1,302)
Net Book Value	$ 3,385		$ 3,698
Unfavorable rate O&M contracts \| Weighted average
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Weighted Average Amortization Period	3 years		3 years
Unfavorable rate land lease
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Gross Carrying Amount	$ 1,000		$ 1,000
Accumulated Amortization	(120)		(107)
Net Book Value	$ 880		$ 893
Unfavorable rate land lease \| Weighted average
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Weighted Average Amortization Period	16 years		16 years
Operating Revenues, Net \| Total intangible assets, net
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Amortization expense	$ (9,800)	$ (10,500)
Depreciation, Accretion, and Amortization \| Total intangible assets, net
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Amortization expense	6,400	6,800
Cost of Operations \| Lease agreements
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Amortization expense	$ 100	$ (200)

Variable Interest Entities (Details) - Consolidated Variable Interest Entity, Primary Beneficiary - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Variable Interest Entity, Consolidated, Carrying Amount, Assets and Liabilities, Net [Abstract]
Current assets	$ 179,648	$ 191,244
Non-current assets	4,315,546	4,351,635
Total assets	4,495,194	4,542,879
Current liabilities	645,232	638,452
Non-current liabilities	512,554	514,464
Total liabilities	$ 1,157,786	$ 1,152,916

Long-term Debt - Debt Schedule (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Dec. 31, 2016
Debt Instrument [Line Items]
Total principal due for long-term debt and financing lease obligations	$ 4,069,206	$ 4,003,939
Unamortized discount, net	(14,326)	(13,620)
Deferred financing costs, net	(38,470)	(39,405)
Less current portion of long-term debt and financing lease obligations6	(2,202,661)	(2,212,968)
Long-term debt and financing lease obligations, less current portion7	$ 1,813,749	1,737,946
Interest rate	5.81%
Permanent Financing
Debt Instrument [Line Items]
Total principal due for long-term debt and financing lease obligations	$ 2,149,437	2,078,009
Interest rate	5.91%
Debt at variable rate	53.00%
Debt at fixed rate	47.00%
Permanent Financing \| Senior Notes due 2023
Debt Instrument [Line Items]
Total principal due for long-term debt and financing lease obligations	$ 950,000	950,000
Interest rate	6.38%
Permanent Financing \| Senior Notes due 2025
Debt Instrument [Line Items]
Total principal due for long-term debt and financing lease obligations	$ 300,000	300,000
Interest rate	6.63%
Line of Credit \| Revolving Credit Facility
Debt Instrument [Line Items]
Total principal due for long-term debt and financing lease obligations	$ 547,000	552,000
Interest rate	4.06%
Financing lease obligations
Debt Instrument [Line Items]
Total principal due for long-term debt and financing lease obligations	$ 122,769	123,930
Interest rate	5.63%
Disposal Group, Held-for-sale, Not Discontinued Operations
Debt Instrument [Line Items]
Current liabilities held for sale	$ 14,684	14,685
Long-term debt, less current portion	$ 353,928	$ 353,877

Long-term Debt - Corporate-level Long-term Debt Narrative (Details)					3 Months Ended		5 Months Ended
	Aug. 10, 2017 USD ($)	Jul. 25, 2017 USD ($)	Apr. 26, 2017 d	Mar. 06, 2017 USD ($)	Mar. 31, 2017 USD ($) d	Mar. 31, 2016 USD ($)	Aug. 29, 2017 USD ($)	Sep. 30, 2017	Jun. 30, 2017 USD ($)	May 03, 2017 USD ($)	Feb. 28, 2017 CAD ($)	Dec. 31, 2016	Nov. 02, 2016 CAD ($)
Debt Instrument [Line Items]
Repayments of long-term debt					$ 11,870,000	$ 29,712,000
Permanent Financing \| Senior Notes Due 2023 and 2025
Debt Instrument [Line Items]
Audited financial statement, period for filing with SEC						60 days
Audited financial statement requirement, grace period upon written notice						90 days
Revolving Credit Facility \| Line of Credit
Debt Instrument [Line Items]
Repayments of long-term debt				$ 5,000,000
Period to provide financial statements					90 days
Cure period (in business days) \| d					10
Debt covenant, leverage ratio required												6.00
Revolving Credit Facility \| Line of Credit \| Maximum
Debt Instrument [Line Items]
Debt covenant, leverage ratio required												6.50
Permanent Financing
Debt Instrument [Line Items]
Maximum borrowing capacity											$ 233,900,000.0		$ 120,000,000.0
Subsequent Event \| Revolving Credit Facility \| Line of Credit
Debt Instrument [Line Items]
Repayments of long-term debt		$ 150,000,000					$ 200,000,000
Period to provide financial statements			75 days
Cure period (in business days) \| d			10
Expected repayments of existing debt										$ 50,000,000
Maximum borrowing capacity reduction	$ 50,000,000
Maximum borrowing capacity	$ 520,000,000.0
Subsequent Event \| Permanent Financing
Debt Instrument [Line Items]
Expected repayments of existing debt									$ 100,000,000
Scenario, Forecast \| Revolving Credit Facility \| Line of Credit
Debt Instrument [Line Items]
Debt covenant, coverage ratio required								1.75
Debt covenant, leverage ratio required								5.75
Scenario, Forecast \| Revolving Credit Facility \| Line of Credit \| Maximum
Debt Instrument [Line Items]
Debt covenant, coverage ratio required								1.50
Debt covenant, leverage ratio required								6.50

Long-term Debt - Non-recourse Long-term Debt Narrative (Details)			3 Months Ended		5 Months Ended
	Jul. 25, 2017 USD ($)	Mar. 06, 2017 USD ($)	Mar. 31, 2017 USD ($) MW	Mar. 31, 2016 USD ($)	Aug. 29, 2017 USD ($)	Aug. 10, 2017 USD ($)	Jun. 30, 2017 USD ($)	May 03, 2017 USD ($)	Feb. 28, 2017 CAD ($)	Dec. 31, 2016 USD ($)	Nov. 02, 2016 CAD ($) MW
Debt Instrument [Line Items]
Repayments of long-term debt			$ 11,870,000	$ 29,712,000
Long-term debt			$ 4,069,206,000
Period to cure default threshold			12 months
Lenders right to demand repayment threshold			1 year
Defaulted debt, reclassified to current			$ 1,600,000,000							$ 1,600,000,000
Debt default, restricted cash reclassified to current			78,900,000							65,300,000
Debt default, cash and cash equivalents reclassified to current restricted cash			21,400,000							67,100,000
Debt default, cash reclassified to held for sale			$ 0							$ 33,800,000
Permanent Financing \| Midco Portfolio Term Loan
Debt Instrument [Line Items]
Nameplate capacity (MW) \| MW			1,104.3
Long-term debt			$ 469,800,000
Permanent Financing
Debt Instrument [Line Items]
Aggregate principal amount									$ 233,900,000.0		$ 120,000,000.0
Nameplate capacity (MW) \| MW											40
Principal amount increase									113,900,000.0
Letter of Credit
Debt Instrument [Line Items]
Aggregate principal amount											$ 6,900,000.0
Principal amount increase									$ 6,700,000.0
Revolving Credit Facility \| Line of Credit
Debt Instrument [Line Items]
Repayments of long-term debt		$ 5,000,000
Subsequent Event \| Permanent Financing \| Midco Portfolio Term Loan
Debt Instrument [Line Items]
Expected repayments of existing debt							$ 100,000,000
Subsequent Event \| Permanent Financing
Debt Instrument [Line Items]
Expected repayments of existing debt							$ 100,000,000
Subsequent Event \| Revolving Credit Facility \| Line of Credit
Debt Instrument [Line Items]
Aggregate principal amount						$ 520,000,000.0
Repayments of long-term debt	$ 150,000,000				$ 200,000,000
Expected repayments of existing debt								$ 50,000,000

Long-term Debt - Maturities (Details) - USD ($) $ in Thousands			3 Months Ended		5 Months Ended
	Jul. 25, 2017	Mar. 06, 2017	Mar. 31, 2017	Mar. 31, 2016	Aug. 29, 2017	Jun. 30, 2017	May 03, 2017	Dec. 31, 2016
Aggregate Contractual Payments of Long-term Debt
Remainder of 2017			$ 733,218
2018			114,066
2019			453,956
2020			100,748
2021			104,271
Thereafter			2,562,947
Total			4,069,206
Revolver indebtedness			4,069,206					$ 4,003,939
Repayments of long-term debt			11,870	$ 29,712
Defaulted debt, reclassified to current			1,600,000					1,600,000
Secured Debt
Aggregate Contractual Payments of Long-term Debt
Revolver indebtedness			2,149,437					2,078,009
Long-term Debt
Aggregate Contractual Payments of Long-term Debt
Defaulted debt, reclassified to current			1,600,000
Revolving Credit Facility \| Line of Credit
Aggregate Contractual Payments of Long-term Debt
Revolver indebtedness			$ 547,000					$ 552,000
Repayments of long-term debt		$ 5,000
Revolving Credit Facility \| Subsequent Event \| Line of Credit
Aggregate Contractual Payments of Long-term Debt
Repayments of long-term debt	$ 150,000				$ 200,000
Expected repayments of existing debt							$ 50,000
Secured Debt \| Subsequent Event
Aggregate Contractual Payments of Long-term Debt
Expected repayments of existing debt						$ 100,000

Long-term Debt - Merger Agreement (Details)	3 Months Ended
Long-term Debt - Merger Agreement (Details)	Mar. 31, 2017 USD ($)
Permanent Financing \| Senior Notes Due 2023 and 2025
Debt Instrument [Line Items]
Repurchase offer price	101.00%
Debt instrument, success fee per $1,000 principal amount	$ 1.25
Brookfield Asset Management \| TerraForm Power
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 500,000,000

Income Taxes - Components of Income Tax Provision (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Income Tax Disclosure [Abstract]
Loss before income tax (benefit) expense	$ (57,191)	$ (33,408)
Income tax (benefit) expense	$ (918)	$ 97
Effective tax rate	1.60%	(0.30%)

Income Taxes - Narrative (Details)	3 Months Ended
Income Taxes - Narrative (Details)	Mar. 31, 2017	Mar. 31, 2016
Income Taxes [Line Items]
Ownership percentage of Terra LLC	65.70%
Statutory tax rate percentage	35.00%	35.00%
SunEdison
Income Taxes [Line Items]
Ownership percentage by other entities	34.30%

Derivatives - Schedule of Fair Values of Derivative Instruments (Details) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Derivatives, Fair Value [Line Items]
Gross amounts of assets recognized	$ 126,878	$ 106,307
Gross assets offset in consolidated balance sheet	0	0
Net assets in consoidated balance sheet	126,878	106,307
Gross amounts of liabilities recognized	32,197	32,377
Gross liabilities offset in consolidated balance sheet	0	0
Net liabilities in consolidated balance sheet	32,197	32,377
Prepaid expenses and other current assets
Derivatives, Fair Value [Line Items]
Gross amounts of assets recognized	23,064	17,795
Gross assets offset in consolidated balance sheet	0	0
Net assets in consoidated balance sheet	23,064	17,795
Other assets
Derivatives, Fair Value [Line Items]
Gross amounts of assets recognized	103,814	88,512
Gross assets offset in consolidated balance sheet	0	0
Net assets in consoidated balance sheet	103,814	88,512
Accounts payable, accrued expenses and other current liabilities
Derivatives, Fair Value [Line Items]
Gross amounts of liabilities recognized	10,803	11,503
Gross liabilities offset in consolidated balance sheet	0	0
Net liabilities in consolidated balance sheet	10,803	11,503
Liabilities related to assets held for sale
Derivatives, Fair Value [Line Items]
Gross amounts of liabilities recognized	3,119	4,041
Gross liabilities offset in consolidated balance sheet	0	0
Net liabilities in consolidated balance sheet	3,119	4,041
Other long-term liabilities
Derivatives, Fair Value [Line Items]
Gross amounts of liabilities recognized	0	47
Gross liabilities offset in consolidated balance sheet	0	0
Net liabilities in consolidated balance sheet	0	47
Non-current liabilities related to assets held for sale
Derivatives, Fair Value [Line Items]
Gross amounts of liabilities recognized	18,275	16,786
Gross liabilities offset in consolidated balance sheet	0	0
Net liabilities in consolidated balance sheet	18,275	16,786
Interest Rate Swaps \| Hedging Contracts
Derivatives, Fair Value [Line Items]
Gross amounts of assets recognized	2,044	1,561
Gross amounts of liabilities recognized	10,066	10,736
Interest Rate Swaps \| Hedging Contracts \| Prepaid expenses and other current assets
Derivatives, Fair Value [Line Items]
Gross amounts of assets recognized	1,626	1,150
Interest Rate Swaps \| Hedging Contracts \| Other assets
Derivatives, Fair Value [Line Items]
Gross amounts of assets recognized	418	411
Interest Rate Swaps \| Hedging Contracts \| Accounts payable, accrued expenses and other current liabilities
Derivatives, Fair Value [Line Items]
Gross amounts of liabilities recognized	10,066	10,689
Interest Rate Swaps \| Hedging Contracts \| Liabilities related to assets held for sale
Derivatives, Fair Value [Line Items]
Gross amounts of liabilities recognized	0	0
Interest Rate Swaps \| Hedging Contracts \| Other long-term liabilities
Derivatives, Fair Value [Line Items]
Gross amounts of liabilities recognized	0	47
Interest Rate Swaps \| Hedging Contracts \| Non-current liabilities related to assets held for sale
Derivatives, Fair Value [Line Items]
Gross amounts of liabilities recognized	0	0
Interest Rate Swaps \| Derivatives Not Designated as Hedges
Derivatives, Fair Value [Line Items]
Gross amounts of assets recognized	0	0
Gross amounts of liabilities recognized	22,131	21,641
Interest Rate Swaps \| Derivatives Not Designated as Hedges \| Prepaid expenses and other current assets
Derivatives, Fair Value [Line Items]
Gross amounts of assets recognized	0	0
Interest Rate Swaps \| Derivatives Not Designated as Hedges \| Other assets
Derivatives, Fair Value [Line Items]
Gross amounts of assets recognized	0	0
Interest Rate Swaps \| Derivatives Not Designated as Hedges \| Accounts payable, accrued expenses and other current liabilities
Derivatives, Fair Value [Line Items]
Gross amounts of liabilities recognized	737	814
Interest Rate Swaps \| Derivatives Not Designated as Hedges \| Liabilities related to assets held for sale
Derivatives, Fair Value [Line Items]
Gross amounts of liabilities recognized	3,119	4,041
Interest Rate Swaps \| Derivatives Not Designated as Hedges \| Other long-term liabilities
Derivatives, Fair Value [Line Items]
Gross amounts of liabilities recognized	0	0
Interest Rate Swaps \| Derivatives Not Designated as Hedges \| Non-current liabilities related to assets held for sale
Derivatives, Fair Value [Line Items]
Gross amounts of liabilities recognized	18,275	16,786
Foreign Currency Contracts \| Derivatives Not Designated as Hedges
Derivatives, Fair Value [Line Items]
Gross amounts of assets recognized	1,037	1,413
Gross amounts of liabilities recognized	0	0
Foreign Currency Contracts \| Derivatives Not Designated as Hedges \| Prepaid expenses and other current assets
Derivatives, Fair Value [Line Items]
Gross amounts of assets recognized	835	953
Foreign Currency Contracts \| Derivatives Not Designated as Hedges \| Other assets
Derivatives, Fair Value [Line Items]
Gross amounts of assets recognized	202	460
Foreign Currency Contracts \| Derivatives Not Designated as Hedges \| Accounts payable, accrued expenses and other current liabilities
Derivatives, Fair Value [Line Items]
Gross amounts of liabilities recognized	0	0
Foreign Currency Contracts \| Derivatives Not Designated as Hedges \| Liabilities related to assets held for sale
Derivatives, Fair Value [Line Items]
Gross amounts of liabilities recognized	0	0
Foreign Currency Contracts \| Derivatives Not Designated as Hedges \| Other long-term liabilities
Derivatives, Fair Value [Line Items]
Gross amounts of liabilities recognized	0	0
Foreign Currency Contracts \| Derivatives Not Designated as Hedges \| Non-current liabilities related to assets held for sale
Derivatives, Fair Value [Line Items]
Gross amounts of liabilities recognized	0	0
Commodity Contracts \| Hedging Contracts
Derivatives, Fair Value [Line Items]
Gross amounts of assets recognized	87,318	66,138
Gross amounts of liabilities recognized	0	0
Commodity Contracts \| Hedging Contracts \| Prepaid expenses and other current assets
Derivatives, Fair Value [Line Items]
Gross amounts of assets recognized	8,112	3,664
Commodity Contracts \| Hedging Contracts \| Other assets
Derivatives, Fair Value [Line Items]
Gross amounts of assets recognized	79,206	62,474
Commodity Contracts \| Hedging Contracts \| Accounts payable, accrued expenses and other current liabilities
Derivatives, Fair Value [Line Items]
Gross amounts of liabilities recognized	0	0
Commodity Contracts \| Hedging Contracts \| Liabilities related to assets held for sale
Derivatives, Fair Value [Line Items]
Gross amounts of liabilities recognized	0	0
Commodity Contracts \| Hedging Contracts \| Other long-term liabilities
Derivatives, Fair Value [Line Items]
Gross amounts of liabilities recognized	0	0
Commodity Contracts \| Hedging Contracts \| Non-current liabilities related to assets held for sale
Derivatives, Fair Value [Line Items]
Gross amounts of liabilities recognized	0	0
Commodity Contracts \| Derivatives Not Designated as Hedges
Derivatives, Fair Value [Line Items]
Gross amounts of assets recognized	36,479	37,195
Gross amounts of liabilities recognized	0	0
Commodity Contracts \| Derivatives Not Designated as Hedges \| Prepaid expenses and other current assets
Derivatives, Fair Value [Line Items]
Gross amounts of assets recognized	12,491	12,028
Commodity Contracts \| Derivatives Not Designated as Hedges \| Other assets
Derivatives, Fair Value [Line Items]
Gross amounts of assets recognized	23,988	25,167
Commodity Contracts \| Derivatives Not Designated as Hedges \| Accounts payable, accrued expenses and other current liabilities
Derivatives, Fair Value [Line Items]
Gross amounts of liabilities recognized	0	0
Commodity Contracts \| Derivatives Not Designated as Hedges \| Liabilities related to assets held for sale
Derivatives, Fair Value [Line Items]
Gross amounts of liabilities recognized	0	0
Commodity Contracts \| Derivatives Not Designated as Hedges \| Other long-term liabilities
Derivatives, Fair Value [Line Items]
Gross amounts of liabilities recognized	0	0
Commodity Contracts \| Derivatives Not Designated as Hedges \| Non-current liabilities related to assets held for sale
Derivatives, Fair Value [Line Items]
Gross amounts of liabilities recognized	$ 0	$ 0

Derivatives - Schedule of Notional Amounts for Derivative Instruments (Details) £ in Thousands, MWh in Thousands, $ in Thousands, $ in Thousands	Mar. 31, 2017 GBP (£) MWh	Dec. 31, 2016 GBP (£) MWh	Mar. 31, 2017 CAD ($)	Mar. 31, 2017 USD ($)	Dec. 31, 2016 CAD ($)	Dec. 31, 2016 USD ($)
Interest rate swaps \| Derivatives designated as hedges
Derivative [Line Items]
Notional amount			$ 163,668	$ 425,744	$ 84,713	$ 433,874
Interest rate swaps \| Derivatives not designated as hedges
Derivative [Line Items]
Notional amount	£ 222,018	£ 222,018		$ 14,655		$ 14,681
Foreign currency contracts \| Derivatives not designated as hedges
Derivative [Line Items]
Notional amount \| $			$ 21,875		$ 25,075
Commodity contracts \| Derivatives designated as hedges
Derivative [Line Items]
Notional amount (in MWhs)	16,610	16,988
Commodity contracts \| Derivatives not designated as hedges
Derivative [Line Items]
Notional amount (in MWhs)	1,275	1,407

Derivatives - Gains and Losses on Derivatives Not Designated As Hedges (Details) - Derivatives not designated as hedges - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Interest expense, net \| Interest rate swaps
Derivative [Line Items]
Loss (gain) on derivatives	$ 1,374	$ 540
Loss on foreign currency exchange, net \| Foreign currency contracts
Derivative [Line Items]
Loss (gain) on derivatives	213	536
Operating revenues, net \| Commodity contracts
Derivative [Line Items]
Loss (gain) on derivatives	$ (4,113)	$ (8,461)

Derivatives - Gains (Losses) Recognized Related to Interest Rate Swaps and Commodity Contracts Designated as Cash Flow Hedges (Details) - USD ($)	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Derivative [Line Items]
Gain (Loss) Recognized in Other Comprehensive Income (Effective Portion) net of taxes1	$ 14,054,000	$ (32,965,000)
Amount of (Gain) Loss Reclassified from Accumulated Other Comprehensive Income into Income (Effective Portion)	(386,000)	369,000
Amount of (Gain) Loss Recognized in Income (Ineffective Portion and Amount Excluded from Effectiveness Testing)	(3,244,000)	2,516,000
Taxes attributed to derivatives designated as cash flow hedges	0	0
Interest expense, net \| Interest rate swaps
Derivative [Line Items]
Gain (Loss) Recognized in Other Comprehensive Income (Effective Portion) net of taxes1	(1,619,000)	(32,193,000)
Amount of (Gain) Loss Reclassified from Accumulated Other Comprehensive Income into Income (Effective Portion)	2,861,000	3,433,000
Amount of (Gain) Loss Recognized in Income (Ineffective Portion and Amount Excluded from Effectiveness Testing)	(326,000)	328,000
Taxes attributed to derivatives designated as cash flow hedges	0
Operating revenues, net \| Commodity contracts
Derivative [Line Items]
Gain (Loss) Recognized in Other Comprehensive Income (Effective Portion) net of taxes1	15,673,000	(772,000)
Amount of (Gain) Loss Reclassified from Accumulated Other Comprehensive Income into Income (Effective Portion)	(3,247,000)	(3,064,000)
Amount of (Gain) Loss Recognized in Income (Ineffective Portion and Amount Excluded from Effectiveness Testing)	(2,918,000)	$ 2,188,000
Taxes attributed to derivatives designated as cash flow hedges	$ 5,800,000

Derivatives - Narrative (Details) - USD ($)	3 Months Ended
Derivatives - Narrative (Details) - USD ($)	Mar. 31, 2017	Dec. 31, 2016	Mar. 31, 2016
Derivative Instruments, Gain (Loss) [Line Items]
Collateral already posted	$ 0		$ 0
Gross amounts of liabilities recognized	$ 32,197,000	$ 32,377,000
Commodity Contract
Derivative Instruments, Gain (Loss) [Line Items]
Maximum term of outstanding interest rate swaps	13 years
Gain expected to be reclassified	$ 6,500,000
Letter of Credit \| Commodity contracts
Derivative Instruments, Gain (Loss) [Line Items]
Collateral already posted	15,000,000	18,000,000
Secured Debt \| Interest rate swaps
Derivative Instruments, Gain (Loss) [Line Items]
Loss expected to be reclassified into earnings	$ 4,800,000
Maximum term of outstanding interest rate swaps	17 years
Derivatives designated as hedges \| Commodity contracts
Derivative Instruments, Gain (Loss) [Line Items]
Gross amounts of liabilities recognized	$ 0	0
Derivatives designated as hedges \| Interest rate swaps
Derivative Instruments, Gain (Loss) [Line Items]
Gross amounts of liabilities recognized	10,066,000	10,736,000
Derivatives designated as hedges \| Secured Debt \| Interest rate swaps
Derivative Instruments, Gain (Loss) [Line Items]
Related liabilities reclassified to current	4,500,000	4,800,000
Derivatives not designated as hedges \| Commodity contracts
Derivative Instruments, Gain (Loss) [Line Items]
Gross amounts of liabilities recognized	0	0
Derivatives not designated as hedges \| Interest rate swaps
Derivative Instruments, Gain (Loss) [Line Items]
Gross amounts of liabilities recognized	22,131,000	21,641,000
Derivatives not designated as hedges \| Secured Debt \| Interest rate swaps
Derivative Instruments, Gain (Loss) [Line Items]
Related liabilities reclassified to current	500,000	500,000
Liabilities related to assets held for sale
Derivative Instruments, Gain (Loss) [Line Items]
Gross amounts of liabilities recognized	3,119,000	4,041,000
Liabilities related to assets held for sale \| Derivatives designated as hedges \| Commodity contracts
Derivative Instruments, Gain (Loss) [Line Items]
Gross amounts of liabilities recognized	0	0
Liabilities related to assets held for sale \| Derivatives designated as hedges \| Interest rate swaps
Derivative Instruments, Gain (Loss) [Line Items]
Gross amounts of liabilities recognized	0	0
Liabilities related to assets held for sale \| Derivatives not designated as hedges \| Commodity contracts
Derivative Instruments, Gain (Loss) [Line Items]
Gross amounts of liabilities recognized	0	0
Liabilities related to assets held for sale \| Derivatives not designated as hedges \| Interest rate swaps
Derivative Instruments, Gain (Loss) [Line Items]
Gross amounts of liabilities recognized	3,119,000	4,041,000
Non-current liabilities related to assets held for sale
Derivative Instruments, Gain (Loss) [Line Items]
Gross amounts of liabilities recognized	18,275,000	16,786,000
Non-current liabilities related to assets held for sale \| Derivatives designated as hedges \| Commodity contracts
Derivative Instruments, Gain (Loss) [Line Items]
Gross amounts of liabilities recognized	0	0
Non-current liabilities related to assets held for sale \| Derivatives designated as hedges \| Interest rate swaps
Derivative Instruments, Gain (Loss) [Line Items]
Gross amounts of liabilities recognized	0	0
Non-current liabilities related to assets held for sale \| Derivatives not designated as hedges \| Commodity contracts
Derivative Instruments, Gain (Loss) [Line Items]
Gross amounts of liabilities recognized	0	0
Non-current liabilities related to assets held for sale \| Derivatives not designated as hedges \| Interest rate swaps
Derivative Instruments, Gain (Loss) [Line Items]
Gross amounts of liabilities recognized	$ 18,275,000	$ 16,786,000

Fair Value of Financial Instruments - Financial Instruments Measured on Recurring Basis (Details) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Assets and Liabilities
Assets	$ 126,878	$ 106,307
Liabilities	32,197	32,377
Long-term debt, including current portion
Carrying Amount	4,016,410	3,950,914
Fair Value	$ 4,175,169	$ 4,080,397
Senior Notes due 2023
Long-term debt, including current portion
Fair value as a percentage of face	103.88%	101.38%
Senior Notes due 2025
Long-term debt, including current portion
Fair value as a percentage of face	107.00%	103.75%
Fair Value, Measurements, Recurring
Assets and Liabilities
Assets	$ 126,878	$ 106,307
Liabilities	32,197	32,377
Interest rate swaps \| Fair Value, Measurements, Recurring
Assets and Liabilities
Assets	2,044	1,561
Liabilities	32,197	32,377
Commodity contracts \| Fair Value, Measurements, Recurring
Assets and Liabilities
Assets	123,797	103,333
Foreign currency contracts \| Fair Value, Measurements, Recurring
Assets and Liabilities
Assets	1,037	1,413
Liabilities	0	0
Level 1 \| Fair Value, Measurements, Recurring
Assets and Liabilities
Assets	0	0
Liabilities	0	0
Level 1 \| Interest rate swaps \| Fair Value, Measurements, Recurring
Assets and Liabilities
Assets	0	0
Liabilities	0	0
Level 1 \| Commodity contracts \| Fair Value, Measurements, Recurring
Assets and Liabilities
Assets	0	0
Level 1 \| Foreign currency contracts \| Fair Value, Measurements, Recurring
Assets and Liabilities
Assets	0	0
Liabilities	0	0
Level 2 \| Fair Value, Measurements, Recurring
Assets and Liabilities
Assets	39,560	40,169
Liabilities	32,197	32,377
Level 2 \| Interest rate swaps \| Fair Value, Measurements, Recurring
Assets and Liabilities
Assets	2,044	1,561
Liabilities	32,197	32,377
Level 2 \| Commodity contracts \| Fair Value, Measurements, Recurring
Assets and Liabilities
Assets	36,479	37,195
Level 2 \| Foreign currency contracts \| Fair Value, Measurements, Recurring
Assets and Liabilities
Assets	1,037	1,413
Liabilities	0	0
Level 3 \| Fair Value, Measurements, Recurring
Assets and Liabilities
Assets	87,318	66,138
Liabilities	0	0
Level 3 \| Interest rate swaps \| Fair Value, Measurements, Recurring
Assets and Liabilities
Assets	0	0
Liabilities	0	0
Level 3 \| Commodity contracts \| Fair Value, Measurements, Recurring
Assets and Liabilities
Assets	87,318	66,138
Level 3 \| Foreign currency contracts \| Fair Value, Measurements, Recurring
Assets and Liabilities
Assets	0	0
Liabilities	$ 0	$ 0

Fair Value of Financial Instruments - Unobservable input reconciliation (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2017 USD ($) $ / MWh	Mar. 31, 2016 USD ($)
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward]
Beginning Balance	$ 66,138	$ 63,154
Realized and unrealized gains (losses):
Included in other comprehensive income (loss)	18,262	(3,836)
Included in operating revenues, net	6,165	(2,188)
Settlements	(3,247)	0
Ending Balance	87,318	$ 57,130
Level 3 \| Commodity Contract
Realized and unrealized gains (losses):
Assets	87,318
Liabilities	$ 0
Income Approach Valuation Technique \| Minimum \| Level 3 \| Commodity Contract
Realized and unrealized gains (losses):
Forward price ($ per MWh) \| $ / MWh	13.6
Income Approach Valuation Technique \| Maximum \| Level 3 \| Commodity Contract
Realized and unrealized gains (losses):
Forward price ($ per MWh) \| $ / MWh	78.2
Option Model \| Minimum \| Level 3 \| Commodity Contract
Realized and unrealized gains (losses):
Volatilities	3.10%
Option Model \| Maximum \| Level 3 \| Commodity Contract
Realized and unrealized gains (losses):
Volatilities	8.20%

Stockholders' Equity - Shares Outstanding (Details) - shares	Mar. 31, 2017	Dec. 31, 2016
Class of Stock [Line Items]
Common stock outstanding (in shares)	140,450,050
Treasury stock (in shares)	264,836	253,687
Class A common stock
Class of Stock [Line Items]
Common stock outstanding (in shares)	92,247,740	92,223,089
Class B common stock
Class of Stock [Line Items]
Common stock outstanding (in shares)	48,202,310	48,202,310
Multiple Shareholders \| Class A common stock
Class of Stock [Line Items]
Common stock outstanding (in shares)	92,247,740
SunEdison \| Class B common stock
Class of Stock [Line Items]
Common stock outstanding (in shares)	48,202,310

Stockholders' Equity - Narrative (Details) - $ / shares	Mar. 06, 2017	Mar. 31, 2017	Dec. 31, 2016
Class of Stock [Line Items]
Special cash dividend (in dollars per share)	$ 1.94
Consideration equity threshold	49.00%
Brookfield Asset Management
Class of Stock [Line Items]
Voting interests acquired	51.00%
Class A common stock
Class of Stock [Line Items]
Common stock, par value (in dollars per share)		$ 0.01	$ 0.01
TerraForm Power \| Class A common stock
Class of Stock [Line Items]
Cash consideration (in dollars per share)	$ 9.52
Common stock, par value (in dollars per share)	$ 0.01
SunEdison \| Class A common stock
Class of Stock [Line Items]
Number of shares exchanged	48,202,310
Equity held	36.90%

Stock-based Compensation - Narrative (Details) - USD ($)		3 Months Ended
	Feb. 12, 2017	Mar. 31, 2017	Mar. 31, 2016	Dec. 31, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation cost not yet recognized		$ 0
SunEdison, Inc. and TerraFrom Global, Inc.
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense		$ 200,000	$ 100,000
Class A common stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares available for issuance		3,828,288
General and Administrative Expense
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense		$ 1,500,000	400,000
General and Administrative Expense - Affiliate
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense		$ 1,000,000	$ 500,000
Restricted Stock Award
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unvested awards (in shares)		0		366,195
Equity instrument granted (in shares)		0	0
Unrecognized compensation cost		$ 0
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unvested awards (in shares)		1,476,790		1,622,953
Equity instrument granted (in shares)		185,980
Unrecognized compensation cost		$ 10,600,000
Period for recognition		1 year 275 days
Weighted average grant date fair value (in dollars per share)		$ 12.08	$ 9.96
Certain Employees and Executive Officers \| Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity instrument granted (in shares)		173,180
Grant-date fair value		$ 2,100,000
Vesting period		3 years
Certain Employees and Executive Officers \| Restricted Stock Units (RSUs) \| Share-based Compensation Award, Tranche One
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting rights		25.00%
Certain Employees and Executive Officers \| Restricted Stock Units (RSUs) \| Share-based Compensation Award, Tranche Two
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting rights		25.00%
Certain Employees and Executive Officers \| Restricted Stock Units (RSUs) \| Share-based Compensation Award, Tranche Three
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting rights		50.00%
Non-employee Director \| Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity instrument granted (in shares)	12,800
Grant-date fair value	$ 100,000

Stock-based Compensation - Activity Tables (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Restricted Stock Award
Number of Shares Outstanding
Beginning balance (shares)	366,195
Granted (shares)	0	0
Converted (shares)	(366,195)
Ending balance (shares)	0
Weighted-Average Grant-Date Fair Value Per Share
Beginning balance (dollars per share)	$ 8.51
Converted (dollars per share)	8.51
Ending (dollars per share)	$ 0.00
Aggregate Intrinsic Value (in millions)	$ 0.0
Restricted Stock Units (RSUs)
Number of Shares Outstanding
Beginning balance (shares)	1,622,953
Granted (shares)	185,980
Converted (shares)	(35,900)
Forfeited (shares)	(296,243)
Ending balance (shares)	1,476,790
Weighted-Average Grant-Date Fair Value Per Share
Aggregate Intrinsic Value (in millions)	$ 18.3
Weighted Average Remaining Contractual Life (In Years)	1 year 9 days

Loss Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Net loss attributable to Class A common stockholders	$ (31,769)	$ (481)
Less: accretion of redeemable non-controlling interest	(2,226)	0
Less: dividends paid on Class A shares and participating RSAs	0	0
Undistributed loss attributable to Class A shares	$ (33,995)	$ (481)
Weighted average basic and diluted Class A shares outstanding (in shares)	92,072,000	87,833,000
Distributed earnings per share (dollars per share)	$ 0.00	$ 0.00
Undistributed loss per share (dollars per share)	(0.37)	(0.01)
Basic and diluted earnings (loss) per share (dollars per share)	$ (0.37)	$ (0.01)
Restricted Stock Units (RSUs)
Dilutive Securities, Effect on Basic Earnings Per Share [Abstract]
Shares excluded from calculation (shares)	1,476,790	2,941,323
Restricted Stock Award
Dilutive Securities, Effect on Basic Earnings Per Share [Abstract]
Shares excluded from calculation (shares)		546,633

Non-controlling Interests (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Dec. 31, 2016
Noncontrolling Interest [Line Items]
Non-controlling interests	$ 1,443,009		$ 1,465,042
Ownership percentage of Terra LLC	65.70%
Activity of Redeemable Non-controlling Interests
Beginning balance	$ 180,367
Distributions	(3,157)
Accretion of redeemable non-controlling interest	2,226
Net income attributable to redeemable non-controlling interests	835	$ 2,545
Ending balance	180,271
Capital
Activity of Redeemable Non-controlling Interests
Beginning balance	153,490
Distributions	(3,157)
Net income attributable to redeemable non-controlling interests	0
Ending balance	152,559
Retained Earnings
Activity of Redeemable Non-controlling Interests
Beginning balance	26,877
Distributions	0
Accretion of redeemable non-controlling interest	0
Net income attributable to redeemable non-controlling interests	835
Ending balance	27,712
Terra LLC \| Terra LLC
Noncontrolling Interest [Line Items]
Non-controlling interests	645,982		660,799
Miscellaneous Projects \| Miscellaneous Projects
Noncontrolling Interest [Line Items]
Non-controlling interests	$ 797,027		$ 804,243
SunEdison
Noncontrolling Interest [Line Items]
Ownership percentage by other entities	34.30%

Commitments and Contingencies (Details) $ in Millions	Jun. 09, 2017 USD ($)	Mar. 24, 2017 employee	Nov. 21, 2016 USD ($)	May 27, 2016 USD ($) employee	Apr. 04, 2016 employee	Mar. 31, 2017 USD ($)
Loss Contingencies [Line Items]
Outstanding letters of credit						$ 148.2
Securities Class Action
Loss Contingencies [Line Items]
Number of defendants \| employee		3			2
Subsidiaries
Loss Contingencies [Line Items]
Amount of damages awarded			$ 13.6
SunEdison \| First Wind Acquisition Claim
Loss Contingencies [Line Items]
Obligated earn-out payments				$ 231.0
Number of employee resignations \| employee				2
Revolving Credit Facility \| Line of Credit
Loss Contingencies [Line Items]
Outstanding letters of credit						$ 66.6
Subsequent Event \| Securities Class Action
Loss Contingencies [Line Items]
Litigation settlement	$ 14.8

Related Parties - Settlement with SunEdison (Details) - SunEdison - Affiliated Entity shares in Millions	Mar. 06, 2017 shares
Related Party Transaction [Line Items]
Bankruptcy proceedings, number of shares issued	6.6
Bankruptcy proceedings, percent of ownership held	36.90%

Related Parties - Management Services Agreement (Details) - USD ($)	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Related Party Transaction [Line Items]
General and administrative expenses - affiliate	$ 1,419,000	$ 5,437,000
SunEdison \| Management Services Agreement
Related Party Transaction [Line Items]
Management fee as percent of cash available for distribution, current and prior two years	2.50%
Maximum base management fee in 2015	$ 4,000,000.0
Maximum base management fee in 2016	7,000,000.0
Maximum base management fee in 2017	9,000,000.0
Payments for related party transactions	0	$ 0
Management fee	2,300,000
Brookfield Asset Management \| Management Services Agreement
Related Party Transaction [Line Items]
Maximum base management fee in 2015	3,000,000.0
Base management fee per each of first four quarters	$ 2,500,000.0
Management fee as a percentage of market capitalization increase	0.3125%
Base management fee after first year	$ 3,750,000.00
Market capitalization increase calculation, base trading price (dollars per share)	$ 9.52

Related Parties - Other Narrative (Details) - SunEdison - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Jun. 30, 2017
Related Party Transaction [Line Items]
Related party costs	$ 5,598	$ 6,846
Proceeds from warranty claims	7,000
Transition Services Agreements
Related Party Transaction [Line Items]
Related party costs	1,900
Transition Services Agreements \| Subsequent Event
Related Party Transaction [Line Items]
Termination notice required			10 days
Chile Facility EPC Contract
Related Party Transaction [Line Items]
Proceeds from warranty claims	$ 4,800

Related Parties - Interest Payment, Support, Intercompany, and Insurance Allocation Agreements (Details)			3 Months Ended		9 Months Ended	12 Months Ended			14 Months Ended
	Mar. 27, 2017 USD ($)	Jan. 28, 2015 USD ($)	Sep. 30, 2016 USD ($)	Mar. 31, 2016 USD ($) MW	Sep. 30, 2016 USD ($)	Dec. 31, 2017 USD ($)	Dec. 31, 2016 USD ($)	Jul. 14, 2016 USD ($)	Mar. 31, 2016 USD ($)	Mar. 31, 2017 MW
Related Party Transaction [Line Items]
Director and officer insurance coverage								$ 150,000,000.0
Payments for insurance settlement	$ 32,000,000
Amended Interest Payment Agreement
Related Party Transaction [Line Items]
Related party transaction, amount of transaction		$ 16,000,000					$ 8,000,000
SunEdison \| Amended Interest Payment Agreement
Related Party Transaction [Line Items]
Equity contribution received				$ 8,000,000
Cumulative amount received									$ 24,000,000
Future payments				$ 24,000,000					$ 24,000,000
SunEdison \| Support Agreement [Member]
Related Party Transaction [Line Items]
Nameplate capacity acquired (MW) \| MW				19.2
Purchase of facilities			$ 29,300,000	$ 9,700,000	$ 39,000,000
Scenario, Forecast \| Amended Interest Payment Agreement
Related Party Transaction [Line Items]
Related party transaction, amount of transaction						$ 8,000,000
Maximum \| Amended Interest Payment Agreement
Related Party Transaction [Line Items]
Related party transaction, amount of transaction		$ 48,000,000.0
SunEdison \| AP Warehouse \| Affiliated Entity \| Intercompany Agreement
Related Party Transaction [Line Items]
Capacity (MW) \| MW										500

Related Parties - Due to SunEdison (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Dec. 31, 2016
Related Party Transactions [Abstract]
Due to SunEdison, net	$ 16,851		$ 16,692
Loss on receivables - affiliate	$ 0	$ 845

Related Parties - Incentive Distribution Rights (Details) - Incentive Distribution Rights - USD ($)	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2015
SunEdison
Related Party Transaction [Line Items]
Quarterly distribution rights, level one, percentage	15.00%
Quarterly distribution rights, level two, percentage	25.00%
Quarterly distribution rights, level three, percentage	50.00%
Quarterly distribution rights, minimum quarterly distribution ($ per share)	$ 0.2257
Payments for related party transactions	$ 0	$ 0	$ 0
Brookfield Asset Management
Related Party Transaction [Line Items]
Quarterly distribution rights, level one, percentage	15.00%
Quarterly distribution rights, level two, percentage	85.00%
Quarterly distribution rights, level three, percentage	75.00%
Quarterly distribution rights, level one ($ per share)	$ 0.93
Quarterly distribution rights, level two ($ per share)	1.05
Quarterly distribution rights, level three ($ per share)	$ 0.12
Quarterly distribution rights, level four, percentage	25.00%
SunEdison
Related Party Transaction [Line Items]
Quarterly distribution right held, percentage	100.00%

Related Parties - Commitment to Acquire Facilities (Details) - Invenergy Wind	6 Months Ended
	Mar. 30, 2020	Mar. 30, 2019	Mar. 31, 2017
Related Party Transaction [Line Items]
Ownership percentage by other entities			9.90%
Scenario, Forecast
Related Party Transaction [Line Items]
Option to acquire remaining interest, period	180 days	180 days

Segment Reporting - Income statement summary table (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2017 USD ($) reportable_segment	Mar. 31, 2016 USD ($)	Dec. 31, 2016 USD ($)
Segment Reporting Information [Line Items]
Number of reportable segments \| reportable_segment	2
Segment Reporting Information, Profit (Loss)
Operating revenues, net	$ 151,135	$ 153,917
Depreciation, accretion and amortization expense	60,987	59,007
Other operating costs and expenses	78,080	62,405
Interest expense, net	68,312	68,994
Other non-operating (income) expenses, net	947	(3,081)
Income tax (benefit) expense	(918)	97
Net loss	(56,273)	(33,505)
Balance Sheet
Total assets	7,757,111		$ 7,705,865
Segments \| Solar
Segment Reporting Information, Profit (Loss)
Operating revenues, net	66,001	71,148
Depreciation, accretion and amortization expense	26,775	31,809
Other operating costs and expenses	13,908	18,569
Interest expense, net	19,581	18,430
Other non-operating (income) expenses, net	(42)	1,249
Income tax (benefit) expense	0	0
Net loss	5,779	1,091
Balance Sheet
Total assets	3,537,803		3,595,387
Segments \| Wind
Segment Reporting Information, Profit (Loss)
Operating revenues, net	85,134	82,769
Depreciation, accretion and amortization expense	33,451	27,127
Other operating costs and expenses	25,161	21,928
Interest expense, net	20,899	21,051
Other non-operating (income) expenses, net	548	206
Income tax (benefit) expense	0	0
Net loss	5,075	12,457
Balance Sheet
Total assets	3,620,311		3,609,471
Corporate
Segment Reporting Information, Profit (Loss)
Operating revenues, net	0	0
Depreciation, accretion and amortization expense	761	71
Other operating costs and expenses	39,011	21,908
Interest expense, net	27,832	29,513
Other non-operating (income) expenses, net	441	(4,536)
Income tax (benefit) expense	(918)	97
Net loss	(67,127)	$ (47,053)
Balance Sheet
Total assets	$ 598,997		$ 501,007

Other Comprehensive Income (Loss) - Schedule of Accumulated Other Comprehensive (Loss) Income (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	$ 2,717,999
Other comprehensive income (loss), net of tax	16,348	$ (26,023)
Ending balance	2,682,809
Foreign Currency Translation Adjustments Attributable to Parent
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	(22,133)
Ending balance	(20,371)
Foreign Currency Translation Adjustments Including Noncontrolling Interests
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Net unrealized gains/losses arising during the period	2,680
Other comprehensive income (loss), net of tax	2,680
Ending balance	(19,453)
Foreign Currency Translation Adjustments Attributable to Noncontrolling Interests
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Ending balance	918
Hedging Activities Attributable to Parent
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	45,045
Ending balance	52,741
Hedging Activities Including Noncontrolling Interests
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Net unrealized gains/losses arising during the period	14,054
Other comprehensive income (loss), net of tax	13,668
Ending balance	58,713
Hedging Activities Attributable to Noncontrolling Interests
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Ending balance	5,972
Accumulated Other Comprehensive Income Attributable to Parent
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	22,912
Ending balance	32,370
Accumulated Other Comprehensive Income Including Noncontrolling Interests
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Net unrealized gains/losses arising during the period	16,734
Other comprehensive income (loss), net of tax	16,348
Ending balance	39,260
Accumulated Other Comprehensive Income Attributable to Noncontrolling Interests
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Ending balance	6,890
Interest expense, net \| Foreign Currency Translation Adjustments Including Noncontrolling Interests
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Reclassification of net realized loss (gain) into earnings	0
Interest expense, net \| Hedging Activities Including Noncontrolling Interests
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Reclassification of net realized loss (gain) into earnings	2,861
Interest expense, net \| Accumulated Other Comprehensive Income Including Noncontrolling Interests
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Reclassification of net realized loss (gain) into earnings	2,861
Operating revenues, net \| Foreign Currency Translation Adjustments Including Noncontrolling Interests
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Reclassification of net realized loss (gain) into earnings	0
Operating revenues, net \| Hedging Activities Including Noncontrolling Interests
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Reclassification of net realized loss (gain) into earnings	(3,247)
Operating revenues, net \| Accumulated Other Comprehensive Income Including Noncontrolling Interests
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Reclassification of net realized loss (gain) into earnings	$ (3,247)

Other Comprehensive Income (Loss) - Components of Other Comprehensive Loss (Details) - USD ($)	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustments, before tax	$ 2,680,000	$ 6,573,000
Foreign currency translation adjustments, tax effect	0	0
Foreign currency translation adjustments, net of tax	2,680,000	6,573,000
Net unrealized losses on hedging activities, before tax	19,890,000	(32,965,000)
Net unrealized losses on hedging activities, tax effect	(5,836,000)	0
Net unrealized losses on hedging activities, net of tax	14,054,000	(32,965,000)
Reclassification of net realized losses into earnings, before tax	(386,000)	369,000
Reclassification of net realized losses into earnings, tax	0	0
Reclassification of net realized losses into earnings, after tax	(386,000)	369,000
Net change on hedging activities, before tax	19,504,000	(32,596,000)
Net change on hedging activities, tax	(5,836,000)	0
Net change on hedging activities, after tax	13,668,000	(32,596,000)
Other comprehensive loss, before tax	22,184,000	(26,023,000)
Other comprehensive loss, tax effect	(5,836,000)	0
Other comprehensive income (loss), net of tax	16,348,000	(26,023,000)
Less: Other comprehensive income/loss attributable to non-controlling interests, net of tax	6,890,000	(9,309,000)
Other comprehensive income (loss) attributable to Class A common stockholders	$ 9,458,000	$ (16,714,000)