SEC Filings

10-K
NRG ENERGY, INC. filed this Form 10-K on 02/29/2016
Entire Document
 
                

ROFO Assets
The Company entered into the ROFO Agreement with NRG Yield, Inc., under which the Company has granted NRG Yield, Inc. and its affiliates a right of first offer on any proposed sale, transfer or other disposition of certain assets of the Company for a period of seven years from May 14, 2015. In addition to the assets described in the table below, which reflects the remaining assets subject to sale, the ROFO Agreement also provides NRG Yield, Inc. with a right of first offer with respect to up to $250 million of equity in one or more residential or distributed solar generation portfolios developed by affiliates of the Company.
Asset
 
Fuel Type
 
Rated Capacity
(MW)(a)
 
COD
CVSR(b)
 
Solar
 
128
 
2013
Ivanpah(c)
 
Solar
 
193
 
2013
Agua Caliente(d)
 
Solar
 
148
 
2014
Carlsbad
 
Conventional
 
527
 
2018
Puente/Mandalay
 
Conventional
 
262
 
2020
TE Wind Holdco(e):
 
 
 
 
 
 
Elkhorn Ridge
 
Wind
 
13
 
2009
San Juan Mesa
 
Wind
 
22
 
2005
Wildorado
 
Wind
 
40
 
2007
Crosswinds
 
Wind
 
5
 
2007
Forward
 
Wind
 
7
 
2008
Hardin
 
Wind
 
4
 
2007
Odin
 
Wind
 
5
 
2007
Sleeping Bear
 
Wind
 
24
 
2007
Spanish Fork
 
Wind
 
5
 
2008
Goat Wind
 
Wind
 
37
 
2008/2009
Lookout
 
Wind
 
9
 
2008
Elbow Creek
 
Wind
 
30
 
2008
Community
 
Wind
 
30
 
2011
Jeffers
 
Wind
 
50
 
2008
Minnesota Portfolio(f)
 
Wind
 
40
 
2003/2006
 
(a) Represents the maximum, or rated, electricity generating capacity of the facility in MW multiplied by the Company's percentage ownership interest in the facility as of December 31, 2015.
(b) Represents the Company's remaining 51.05% ownership interest in CVSR.
(c) Represents 49.95% of the Company's 50.01% ownership interest in Ivanpah. Following a sale of this 49.95% interest, the remaining 50.05% of Ivanpah would be owned by the Company, Google Inc. and BrightSource Energy Inc.
(d) Represents the Company’s 51% ownership interest in Agua Caliente. The remaining 49% of Agua Caliente is owned by MidAmerican Energy Holdings Inc.
(e) Represents the Company's remaining 25% of the Class B interests of NRG Wind TE Holdco. NRG Yield, Inc. acquired 75% of the Class B interests in November 2015. A tax equity investor owns the Class A interests in NRG Wind TE Holdco.
(f) Includes Bingham Lake, Eastridge, and Westridge projects.

Cash Grants
As of December 31, 2015, the Company had a net renewable energy grant receivable of $13 million, net of sequestration. The receivable balance reflects a reduction as compared to the December 31, 2014, balance of $135 million, net of sequestration, due primarily to a cash grant of approximately $51 million awarded by the U.S. Treasury Department to the Company for the Ivanpah project in June 2015 as well as the establishment of an indemnity receivable in the amount of $75 million relating to the agreement the Company has with SunPower relating to the CVSR project in the first quarter of 2015.

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