SunEdison Reports First Quarter Results

(PRNewswire) —  SunEdison, Inc. (NYSE: SUNE) today announced financial results for the 2015 first quarter.

"During the first quarter, the team continued our exceptional record of balancing operational execution while accomplishing our strategic initiatives. On the operations front, the team delivered 273 MW, a first quarter record, while also achieving new records in our pipeline, backlog, and projects under construction," said Ahmad Chatila, Chief Executive Officer. "Our asset ownership platform, TerraForm Power, increased its CAFD and dividend guidance as it reached 1.7 GW of operating assets. In addition, we closed the First Wind acquisition, while making significant progress on our strategic emerging market initiatives."

Quarterly Review:

  • All-Time MW Records for Q1
    • 273 MW Total; up 123 MW Y/Y
    • 2.9 GW of backlog additions net of losses; 2.7 GW of gross pipeline additions; 774 MW under construction at quarter end
  • Execution on M&A; Successful Launch of Wind Platform
    • Closed First Wind in January
    • Announced the Atlantic Power acquisition on April 1
    • Multiple announcements today supporting Emerging Markets initiatives
  • TerraForm Power Continues to Deliver
    • $225 million 2015 CAFD guidance; up from $214 million
    • $1.35 dividend per share guidance for 2015; up from $1.30
    • 1,675 MW of operating assets as of quarter end; up 70% Q/Q
    • 167 MW of drop downs from SUNE in Q1

Key Operating Metrics

1Q 2015
Guidance

1Q 2015
Actual

Annualized Unlevered CAFD for Retained MW ($M)1

22-26

33

Total MW

220-250

273

Retained MW1

145-160

202

3rd Party Sales MW1

75-90

71

1 Defined in Supplemental Definitions






Renewable Energy Development - Operating Metrics

Pipeline Summary (MW)

1Q'15

4Q'14

1Q'14

Qtr/Qtr

Yr/Yr

Pipeline 1

7,519

5,113

3,575

2,406


or

47%

3,944


or

110%

Backlog 2

5,201

2,595

984

2,606


or

100%

4,217


or

429%

Construction

774

467

463

307


or

66%

311


or

67%

Pipeline Additions 3

2,679

973








  Note: Table unaudited



(1) Includes Backlog and Construction



(2) Includes Construction



(3) Additions net of losses































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