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