#collateral-free solar loans

[townpostin]

Tata Power Solar Teams Up with ICICI Bank for Solar Financing

Partnership offers loans up to ₹90 lakh for residential and corporate solar panel purchases Tata Power Solar and ICICI Bank join forces to provide accessible financing options for solar panel installations across India. JAMSHEDPUR – Tata Power Solar Systems Limited has announced a strategic partnership with ICICI Bank to provide customized financing for the acquisition of solar panels. The…

[alessandriana]

Bangladesh’s new leader is clear: this was not his revolution, and this was not his dream.

But Muhammad Yunus knew the second he took the call from the student on the other end of the phone last week that he would do whatever it took to see it through.

And the students had decided that what they needed was for Prof Yunus - an 84-year-old Nobel laureate - to step into the power vacuum left by the sudden resignation of Prime Minister Sheikh Hasina and lead the new interim government. He accepted immediately.

https://apple.news/ABYv3jRkjREaI00katX0R_A

Muhammad Yunus is the smiling face of a pro-market, feminist and thoroughly democratic version of Islam, and for these sins the new and unexpected leader of Bangladesh has acquired a legion of enemies.

The Nobel economist and banker to the world’s destitute is reviled in equal measure by Salafist fundamentalists, the socialist hard-Left and the crony-capitalist regime of the departed Sheikh Hasina.

This latter day Gandhi set off the microfinance revolution in 1976 with his Grameen Bank, or “Village Bank” in Bengali. Grameen searches out the poorest of the poor. Some 97pc of its borrowers are women.

“The extreme-Right religious groups accused us of destroying the social order. By giving loans to women we were encouraging them to disobey their husbands,” he told me when we once met at the Lindau Nobel forum.

“The Left didn’t like us either. They said this was an American conspiracy to spread capitalism at the grass-roots level. So we were squeezed from all sides. Let them all scream. The revolutionaries are all talk and do nothing,” he said. [...]

Mr Yunus, 84, suddenly finds himself thrust on to the political stage by acclamation, leading a country of 170m people. His euphemistic title of “Chief Adviser” has a jarring Cromwellian ring, like Lord Protector. His saintly character could hardly be more different.

The Grameen Bank began with loans worth a total $27 (£20.76) to 42 women making bamboo furniture in the village of Jobra. It actively seeks out those excluded by the urban lenders.

“Our banking is sub-sub-sub-sub-prime: you can’t get any lower than us. We have no collateral, no insurance, no taxpayer guarantees,” he said.

“We send our people out on bicycles to check if they are poor enough. If a woman lives in a one-room house, she qualifies,” he told me.

It has grown to 10.6m borrowers in 82,000 villages. Almost all are women because they are the better credit risk. [...]

The Grameen model is based on strict discipline. Villagers form groups of five with their own elected leader. Borrowers agree to a code of “16 Decisions”: that they will send their children to school, abolish dowries, etc.

Each loan project must win the backing of the others. They enforce payments by peer pressure. As of June 2024, the loan recovery rate was 96.29pc.

Mr Yunus learned his economics as a Fulbright Fellow at America’s Vanderbilt University in the late 1960s, where he discovered Martin Luther King. “It changed me. I saw that the whole society could turn around from just one voice.”

He now has his own nation to run, and the delicate task of navigating the politics of Bangladesh without a constitutional mandate. He vowed over the weekend to hold “free, fair and participatory elections” but only after rebuilding the political foundations.

“Sheikh Hasina’s dictatorship destroyed every institution of the country. The judiciary was broken. Banks were robbed and the state coffers were plundered,” he said.

[...]

Mr Yunus has a radically different view of energy economics. His green arm, Grameen Shakti, rolls out home solar packs and biogas in the villages. He signed a furious letter last week along with other Nobel laureates protesting the omission of fossil fuels from the draft text of the UN’s Summit of the Future next month. No large country in the Global South has ever been led by such a committed champion of the ecology movement.

Mr Yunus is not a utopian. He is an economic conservative with a deep Smithian faith in the improving force of the market, wherever it is not corrupted by oligarchy. “I believe all people are entrepreneurs. Poverty is not inherent: it is artificially imposed by the denial of opportunity,” he said.

“One day we will create poverty museums. We will take the next generation of children to show them what it used to be like, and they won’t be able to believe it. There is no need for anybody to be poor.”

Until she fled Bangladesh on Monday, Prime Minister Sheikh Hasina governed as if she still had full legitimacy, even as students and protesters had been on the streets for days asking her to resign. The trigger for the demonstrations—civil service job quotas for Bangladeshi freedom fighters and their families—had become a distant memory. Collective anger about years of human rights abuses, corruption, and rigged elections had coalesced into an uprising.

In a conversation over the weekend, Zonayed Saki, the left-leaning leader of the Ganosamhati Andolan party—himself a student activist against military rule in the 1990s—said, “The people’s sentiment is that she has to go first. The government had lost moral and political legitimacy.”

Hasina believed that she was elected democratically. She won an unprecedented fourth term in a flawed vote in January, which most of the major opposition parties had boycotted and the United States, the United Kingdom, and human rights groups criticized for not being free or fair. Still, other major governments congratulated Hasina on the victory. The bureaucracy, the media, the police, and the army were on her side. What could go wrong?

Over the weekend, Hasina declared a curfew again, cut off the internet, and encouraged the youth wing of the ruling Awami League party to take to the streets. Trigger-happy security forces, who were blamed for the deaths of more than 200 people as the protests turned violent in mid-July, were out in full force. Nearly 100 more people died over the weekend, including 14 police officers; video emerged showing security forces shooting point-blank at nonviolent protesters.

Hasina spoke darkly of Islamists spreading terrorism by co-opting the protests, but the students remained undeterred. A long march was announced for Aug. 5 to demand her resignation. Hasina declared a three-day public holiday in response. But by midday Monday, she had resigned, fleeing the country in a helicopter. The first stop would be India and after that an unknown destination.

Meanwhile, the situation on the ground has turned volatile amid the power vacuum. Thousands of demonstrators rushed to the Ganabhaban, the prime minister’s official residence in Dhaka, looting souvenirs and frolicking on the premises. People have also reportedly attacked the home of Bangladesh’s chief justice. There are also reports of the toppling of a statue of Hasina’s father, Sheikh Mujibur Rahman, who led Bangladesh’s independence movement and then ruled the country until he was assassinated in 1975. Mujib’s family home, now a museum, went up in flames in an act of grotesque retribution. These incidents stand in contrast to the disciplined and peaceful demonstrations led by students, who have urged for calm and were seen appealing to the looters to return stolen property.

Bangladesh’s army has called for calm, but it has not yet intervened. The country’s armed forces overthrew elected governments in the 1970s and 1980s and attempted coups in later years. But now, the generals would naturally want to play it safe: They cannot afford to lose the confidence of Bangladeshis and are aware of the deep distrust that Bangladeshis have developed for the armed forces because their political interventions have weakened the country’s democracy.

There is another calculation at play, too: Bangladesh is among the largest suppliers of soldiers to the United Nations peacekeeping forces, and it won’t antagonize the international community by letting its soldiers act at will. (Those peacekeeping arrangements mean the armed forces are less reliant on Bangladesh’s state budget.) In mid-July, when military vehicles with U.N. insignia were deployed on Dhaka’s streets, foreign diplomats rightly complained; Bangladeshi officials gave weak excuses and promised not to use U.N. equipment to settle domestic unrest.

Hasina seemed to have two options: to seek a graceful exit or to dig her heels in and let the troops take all necessary means to protect her regime. In the end, she fled. Where she will settle is unclear. India would pose problems for Prime Minister Narendra Modi; ruling party politicians have routinely criticized undocumented Bangladeshis in India, even creating legislation to identify and possibly deport them. The United Kingdom may be risky for Hasina because while it hosts many Bangladeshi immigrants, they include dissidents forced into exile during her 15-year rule as well as supporters of the opposition Bangladesh Nationalist Party.

Had Hasina dug in, there would have been bloody consequences. Even if the army had shown restraint toward the protesters, there is no telling if Bangladesh’s notorious border guards or the Rapid Action Battalion—which has faced criticism from human rights groups—would have acted responsibly. There has been violence on both sides, but it has come primarily from the Bangladeshi state. As of Monday, as many as 32 children had died, according to UNICEF.

By stepping aside disgracefully, Hasina leaves chaos in her wake. It is crucial that any interim administration restore order quickly, but it can only do so if it has the backing of the army. A list of bureaucrats, civil society veterans, and others who might form the nucleus of such a government has been released, but the situation is too fluid to consider such lists final. In the early 2000s, Bangladesh had an unelected but legitimate caretaker government to help assist its transition to democracy after a military intervention—which it did, paving the way for Hasina’s election in December 2008.

Hasina has long demonized Bangladesh’s Islamist political forces. But Islamic fundamentalist parties have secured more than 10 percent of the vote only once, in 1991; in all subsequent elections, their vote share has been closer to 5 to 6 percent. Most Bangladeshis are Muslims, but they aren’t extremists; in Bangladeshi American poet Tarfia Faizullah’s famous words, when a Pakistani soldier assaulted a Bengali woman in 1971 and asked her if she was Muslim or Bengali, she defiantly said, “Both.”

The song accompanying many videos of the protests last week was from the pre-Partition poet Dwijendralal Ray, a Hindu, celebrating the golden land of Bengal. To see Bangladesh in binary terms—of Muslim or not Muslim—shows a profound misreading of a complex society. It reveals the myopia of external observers, notably analysts close to the current Indian government, who had invested hugely in Hasina and irrationally fear that an Islamic republic is the only alternative to her rule. In so doing, they frittered away some of the goodwill that India had earned in Bangladesh over the years, particularly for its support during the liberation war.

As a result, the current situation in Bangladesh will complicate things for Modi, Hasina’s close friend. His government had invested hugely in their relationship, aiming to build a trade corridor across Bangladesh and seeking Bangladeshi support to curb separatism in northeastern India. This alienated India from Bangladeshis, who expected New Delhi to defend democratic forces in Dhaka. Nobel laureate Muhammad Yunus, whom Hasina condemned and called a “bloodsucker of the poor,” chided India for not doing enough: South Asia is a family, he said in a recent interview, and when a house is burning, brothers should come and help.

With Hasina fleeing, India has lost an ally it thought it could rely on. The road ahead for Bangladesh will be difficult. Expectations will be high, and the people will want early elections. If those are free and fair, a different Bangladesh can emerge. Whether it will be consistent with the liberal, secular, democratic ethos that Bangladesh’s founders fought for remains to be seen.

[abhi12-3]

PM Surya Ghar Muft Bijli Yojana: How to avail subsidy under new solar rooftop scheme

Those who are interested in PM Surya Ghar Free Electricity Scheme can contact our company Sustainable Himalayas after which we will register them. The government is now giving good subsidy on this scheme. Customers have the option to choose both manufacturer and supplier for themselves

What is PM Surya Ghar Free Electricity Scheme?

According to the Press Information Bureau release, “PM Surya Ghar Free Electricity Scheme is a central scheme that aims to provide free electricity to one crore households in India who choose to install rooftop solar power units. Families will be able to get 300 units of free electricity every month. It was approved by the Union Cabinet    on February 29 with an outlay of Rs 75,021 crore.”

How does PM Surya Ghar Free Electricity Scheme work?

This initiative provides subsidy of 60% of the solar unit cost for systems up to 2 KW capacity and 40% of the additional system cost for systems of 2 to 3 kW capacity. The subsidy is limited to a maximum capacity of 3 kW. At current benchmark pricing, this translates to a subsidy of Rs 30,000 for a 1 kW system, Rs 60,000 for a 2 kW system and Rs 78,000 for a 3 kW system or above.

Who is eligible to apply for the scheme?

1. The applicant must be an Indian citizen.

2. The house should have a suitable roof for installing solar panels.

3. The household must have a valid electricity connection.

4. The household must not have availed any other subsidy for solar panels.

Can a consumer avail loan facility for financing a solar unit?

Yes. Households will be able to access virtually collateral-free low-interest loan products.

What is the process to get subsidy?

step 1

Register on the portal

Select your state and power distribution company

Enter your electricity consumer number, mobile number and email.

step 2

Login with consumer number and mobile number

Apply for rooftop solar as per form

step 3

Once you get the feasibility approval, get the plant installed from any registered vendor

step 4

Once installation is complete, submit plant details and apply for net meter.

Step 5

Commissioning Certificate will be generated from the portal after installation of the net meter and inspection by the Discom.

Step 6

Once you get the commissioning report. Submit bank account details and a canceled check through the portal. You will receive your subsidy in your bank account within 30 days.

[loomsolarblog]

How to Get Solar Loan for Rooftop Solar System?

The process of installing solar panels on loan has become quite easy and convenient these days. Solar panels are a popular way to save on your electricity bill. Many people want to install solar panels on the roof of their house and many people are not able to bear the huge expense involved in it. But now with a solar loan, installing solar panels has become easier and more affordable than ever.

If you are thinking of installing solar panels at your home or at any other place, then you can also install solar panels on instalments. Nowadays many banks and financial institutions are providing loans to people for installation of solar panels on the roofs of their houses.

List of Banks who provide solar loan.

· Punjab National Bank (PNB)

· HDFC Bank

· Canara Bank

· Bank of Baroda

· IDBI Bank

· Union Bank of India

· Saraswat Bank

· Kotak Bank

· ICICI Bank

· Axis Bank

· State Bank of India (SBI)

Documents required for solar loan.

Identity Proof — Aadhar Card, PAN Card etc.

Electricity bill for last 6 months

Bank statement of last 12 months

Residential or property documents

MSME Certificate (for business)

· File GST return for the current financial year (for business).

How to apply for solar loan?

The application process for taking a solar loan is quite simple, you can easily apply for a solar loan through the medium mentioned below.

Credit Card and Debit Card EMI

Like any other item, you can buy solar panels with your credit card and get them installed by paying easy EMI.

You can choose the EMI tenure on the credit card as per your convenience and pay the instalment from time to time.

Apart from credit card, you can also install solar on EMI with debit card. Eligible customers are provided with a pre-approved limit to make purchases on Debit Card EMI which you can use as a loan.

You can contact your bank to get information about the pre-approved limit available on your debit card.

Solar Loan from Banks and NBFCs

Solar loan facility is provided by many leading banks and NBFCs for installation of Roof Top Solar System.

This loan is given by the bank for installation of solar system as an individual, SME or business.

You can take a collateral-free solar loan from the bank in which you also get the option to choose a longer loan repayment tenure as per your eligibility.

The maximum repayment tenure offered by many solar finance companies and banks gives you enough time to complete the EMI.

To take a solar loan, you can apply online by visiting the official website of the bank or NBFC or you can contact your nearest branch.

Solar Loan with Home Loan

This loan is given by the bank to such customers who apply for a new home loan.

Apart from this, such customers can also get this loan who are currently taking home loan from the bank.

For example, Canara Bank — Housing cum Solar Loan is one such loan facility in which customers can take loan for solar system along with home loan.

Conclusion

This includes individual home loan borrowers who have sufficient space available to install solar equipment on their rooftop. At the same time, many banks provide solar loan facility in the form of home improvement loan for installation of residential solar system. To know more information about the solar systems and solar loan, it’s important to consult with a professional solar installer who will evaluate your specific needs and recommend the most appropriates for you.

[megamax-solar]

Effortless Ways to Obtain a Solar Loan Without Collateral in India

Learn how to easily secure a solar loan without collateral in India. Get expert tips and guidance on hassle-free ways to finance your solar energy project.- https://bit.ly/3UtTZMQ

[sunnovativesolar445]

How to avail solar energy loan for my residential plant?

The Government of India is encouraging the adoption of solar energy by every Indian. To promote convenient adoption and use of solar energy, public sector banks & private banks have been given statutory instruction by the Ministry of Finance to offer loans at reasonable cost as per Government of India & Reserve Bank of India Instructions to Public Sector Unit Banks & Private Banks on financing.

The financing of solar PV projects is typically arranged by the developer or sponsor. It comprises two parts: an equity investment and project financing to cover the debt portion.

Indian Solar Funding Methods

Solar energy is free, however building a MW solar plant costs a lot of money. One of the biggest challenges for those who are interested in MW solar plants is finding alternative financing. It is essential to choose a solar financing option that works for your business. The average price per MW to set up a plant is roughly 6 Crores. Equity makes about 30% of this, with loan funding covering the remaining 70%. Equity is only a colloquial term for capital obtained from your own assets or those of other investors. Debt financing is frequently available with recourse, meaning the investor must offer a piece of property as security for the loan he wishes to acquire. 

As follows, each of these funding options is covered:

Local Financing (Essentially From Banks)

In 2015, Indian banks offered loans at interest rates between 11 and 13 percent; non-banking financial corporations (NBFCs) could have offered loans with slightly higher rates. Lower interest rates (10.2-11.4%) are offered by IREDA, the renewable energy finance arm of the Indian government. The amount of collateral needed to qualify may range from 20% for organizations like IREDA to 100% for some banks. Domestic loans are typically granted for a period of 7 to 10 years, however several Indian banks are today willing to extend their loan terms to 15 years.

Banks in India

Several public and private sector banks, including State Bank of India (SBI), ICICI, Yes Bank, Axis Bank, and others have offered finance for different kinds of solar projects. SBI would be funding the largest capabilities of 15,000 MW among public sector banks at a cost of Rs. 75,000 crore, followed by IDBI bank, according to a public announcement by the Indian government in March 2016. (3,000 MW). Plans totaling 31,649 MW will be financed by the 24 public sector banks.

NBFCs (non-banking financial institutions)

A few of the well-known NBFCs engaged in solar project loan financing are:

Infrastructure funds: Taurus Infrastructure Fund, SBI Macquarie, and Infrastructure Leasing & Financial Services Ltd (IL&FS).

Rural Electrification Corporation (REC) and Power Finance Corporation provide dedicated finance for the electricity industry (PFC)

Investment banks include BNP Paribas, SBI Capital Markets, and Larsen & Toubro Finance.

Indian Agency for Development of Renewable Energy (IREDA)

IREDA is a non-banking financial institution that the Ministry of New and Renewable Energy (MNRE) has administrative jurisdiction over and that provides term loans for thermal energy efficiency and renewable energy projects.

[15] Up to 75% of the cost of the solar project endeavor is financed by IREDA. In light of the risk assessment, IREDA performs credit ratings for all grid-related projects and assigns grades in a band of four (I, II, III, and IV).

Required Documents to Avail the Loan: 

ID and Address Proof

PAN Card

Existing Track Record (If available)

Assets & Liabilities Statement & Supporting Documents

Non-encumbrance & Title Report

Valuation Report

Proof of Income

Quotation of Solar Rooftop

Hypothecation of Equipment

Equitable mortgage/ Extension of Equitable

Copy of Insurance with Bank’s clause

Personal Guarantee by the Guarantor

What is the pricing of Solar Panels in India?

Solar panels cost, on average, about Rs. 40,000, or between 36,000 to 44,000 depending on the type and model. While solar panels can help save you money on energy costs, it’s important to know the overall startup solar panel costs so you can plan a budget.

Average Cost of 1kW Solar Panels Average CostRs. 44,000Lowest CostRs. 32,000Highest CostRs. 50,000

What are the advantages of the subsidy for solar panels?

Using an Indian government solar subsidy provides a number of advantages. Here are a few examples:

It costs a lot of money to set up a solar system. In such circumstances, the solar subsidies offer financial assistance and relieve your load.

Depending on how many kW of electricity the solar system is expected to produce, different amounts are provided by the government. For example, the solar panel subsidy is 40% of the whole cost for solar panels up to 3kW, and 20% for solar panels between 4kW and 10kW. You select the subsidy based on your needs.

Use the subsidies to build your rooftop solar system. On the yearly electricity bills, you can receive an additional incentive of Rs. 1 per unit for the total solar power you produce.

Nevertheless, the business sector is not eligible for these incentives; only residential properties are. Only grid-connected solar systems, or systems without batteries, are eligible for it.

Gains from a Solar Loan

Your EMI is funded by the monthly electricity savings

Depending on the length of your loan, you may have to make monthly payments on a solar loan, just as you would for a home or vehicle loan. Yet you won’t pay more as a result of this. You can pay off the EMIs with the money you save on power bills thanks to your solar system.

Moreover, even after the loan is repaid, you will continue to save each month because solar panels virtually ever need maintenance. With that money, you may make more money by investing in attractive financial strategies like mutual funds, etc.

2. Purchasing a Fixed Asset

Loans are an obligation. With a solar loan, though, you’ll be making an investment in a fixed asset. A solar system will be with you for more than 25 years and will provide you a great return on your investment.

Whenever the debt is repaid in 4-5 years or fewer, this asset will be totally free.

3. Lowers electricity costs

The main advantage of switching to solar power is that you will be the one creating the electricity. You will be less reliant on the grid as a result. Also, you may sell the extra energy you create back to the utility company through net metering. Your power bill will be changed to reflect this new amount, which will result in a large decrease.

Also, the cost of electricity is always going up. You will pay the EMIs with the initial power savings. Yet after that, your fully purchased system will serve as a safeguard against any further price increases.

4. Make the switch to green energy

The switch to solar energy is a chance to lower our carbon emissions because it is a scalable, regional, and clean energy source.

You won’t need to put off beginning your transition to green energy with a loan. From the very first day, you can start assisting with the objective of a greener India.

Becoming an Excellent Example for Your Kids

Future generations must understand how we can all work to safeguard the environment. Children today are taught about climate change in classrooms for this reason.

Your kids may learn how to care for the environment more responsibly and the value of investing in renewable energy by having a solar system at home.

How to Apply for a Solar Loan

The procedure is as easy as applying for a vehicle loan.

You must submit to us an application for the financing and a plan for your solar power plant. Also, you will need to provide us with some basic paperwork, including your utility bills for the last six months. Before beginning the process, HDFC Bank will evaluate your eligibility and credit report.

HDFC Bank would pay up to 75% of the total cost of the solar plant after the loan is authorised. The client will make a down payment of 25%.

An Equated Monthly Installment (EMI) will be chosen based on the loan’s maturity length. The total amount due plus the interest incurred are included in this EMI. The compensation would be less if the tenure was longer.

We advise picking a shorter tenure since it results in higher savings even if the selection might be based on your ability to pay.

[creditmoney]

Credit Money provide collateral free Solar Loan to SMEs who want to own their own rooftop solar system. Hassle free - Quick Process | Flexible EMI Option | Long Tenure https://creditmoney.co.in/ #solar #solarpanel #solarloan #finance #loans #funding #creditmoney #creditmoney11 https://www.instagram.com/p/Cgla74RoWR5/?igshid=NGJjMDIxMWI=

[whalenoh6-blog]

Property Enhancement Guidelines To Make Your Residence A Greater Place To Dwell

Residence enhancement projects are the excellent way to aid you update your home and customize your living setting to showcase your exclusive fashion. No issue what you plan to perform on, this article can assist you get commenced by delivering you with fast and straightforward tips to modify your home. Bettering your home's strength performance is a kind of residence advancement that could deliver significant returns in equally the quick and lengthy term. Attainable enhancements to take into account are: putting in solar panels on your roof, cavity wall insulation, loft insulation and changing any one-glazed windows with double-glazed or even triple-glazed home windows. When attempting to choose a venture, contemplate whether or not you program on selling or keeping and then make a decision on how tailored your task should be. The far more personal your renovation is, it becomes significantly less likely that an additional individual will purchase the property for what it cost you to do the operate in the initial location. Make confident you have temperature stripping all around all of your doors and home windows. This will help you with numerous troubles. It retains air from leaking out keeping your home cooler or hotter when you might be running your A/C or warmth. It can also keep little critters from obtaining their way in. It is also very good if you happen to be in an region that floods a good deal, to maintain drinking water from seeping in. When removing cabinets as part of a kitchen area transform, make confident you never just unscrew and yank them off the wall. You will much more than probably stop up getting some or all of the drywall off with you. Get time and treatment to get rid of each and every and each and every screw, and use a utility knife close to the edges to split the caulking that was most likely utilized to seal amongst the cupboard and the wall. You need to have to give a believed to the context of your community before you engage in comprehensive reworking work. You may be dreaming of a Victorian gingerbread house, but it really is going to seem preposterous on a street total of split-amount ranches. Transforming projects ought to constantly mix nicely into the community in purchase to aid simpler sale. Glue your wallboard in area just before nailing it! A caulking gun and the right adhesive tends to make quick operate of the work. The benefits of a lot quicker installation are apparent. Another benefit is much less nails. Moreover, the glue holds the wall board tightly in spot and the nails you do use are less most likely to pop out in the potential. For an inexpensive method to ground tiling, contemplate putting in vinyl as an alternative of ceramic or stone. This substance is extremely practical, as it repels h2o and maintains durability. To meet up with your personal wants, you can conveniently buy vinyl flooring in large sheets or as person tiles. The outdoors of your house also makes an exceptional location for a residence improvement undertaking. Staining your driveway adds a stunning contact to the entrance of your home. Also, look to see if you need to have to fill any cracks or re-tar the driveway. Occasionally, ΗΛΕΚΤΡΟΛΟΓΟΣ ΑΘΗΝΑ of your home can be neglected as you make enhancements, but these tasks can genuinely insert a lot to the aesthetic worth of your house. If your property is lower on usable place and you need an additional place, contemplate looking to your attic or basement for support. You can effortlessly decide on to change your basement into a livable environment this sort of as an business office, gentleman cave or recreation place. If your basement already has a staircase, a roof and different partitions, it can be a quite expense efficient way to increase your house. Free up some cupboard area in your kitchen by using a steel desk organizer to shop slicing boards, jelly roll pans and cookie sheets. This will not only give you the much needed cupboard space, but keep you from getting to open up every single solitary drawer in your kitchen area to locate a single item you could use. Be cautious when picking a drain cleaner for your most stubborn clogs. Some of them are really harsh. Steer obvious of crystallized cleaners, given that they are inclined to adhere to pipes and lead to harm. Be specific that the drain cleaner you select will not negatively effect your septic tank. When acquiring new appliances, you need to steer clear of acquiring extremely cheap ones. Preserve in thoughts that good quality appliances can very last you for at least one particular decade, even far more relying on the variety of appliances. If you are not able to manage costly appliances, think about a payment plan: if you acquire quality appliances, you will still use them extended soon after you have compensated them off. If the caulking surrounding your tub is stained or mildewed, consider changing it. With much less than an hour of work, your bathroom will search a lot nicer. Use a screwdriver or other resource to eliminate the old caulking, and guarantee that the surface is dry just before making use of the new caulking. Look for a variety particularly meant for bathrooms a lot of of these also resist mildew development. When you are contemplating about using out a house advancement mortgage make confident you do your study. It has grow to be increasingly tougher to consider out a home enhancement financial loan that is unsecured which implies you may have to use your residence as collateral. Make sure this is one thing that you are well prepared to do. When you are maintaining the exterior of your property throughout the drop period, make confident to verify your gutters for leaf clogs or have an individual come and clear them for you. This way you will not have roof damage or unexpected leaks happening during the winter and help save your self the tension associated with a difficulty that could have been prevented. To silence a toilet that operates intermittently or has a gradual trickle into the bowl, verify the flapper and flapper seat in the base of the tank. Clear the lip of the seat to make certain that mineral develop-up just isn't avoiding the flapper from seating appropriately, and substitute the flapper if it would seem worn or cracked.

Residence advancement operate does not have to be difficult. By pursuing the advice we offered earlier mentioned, we hope that you will find it straightforward to commence operating on any variety of tasks close to your home. You will be surprised at the outcomes you can attain, once you get commenced!

[its-mysun]

Solar Financing Company

MYSUN presents:

Hassle-free solar loans for Commercial, Industrial & Retail customers

Collateral free & customized loan options available with minimal down payment

Solar loans available through MYSUN & our financing partners

Visit us : https://www.itsmysun.com/solar-finance-residential-commercial-industrial/

[osheenkharbanda]

How to Finance Solar Panels

One of the most striking questions that occur to you when thinking of going solar is, "Will this decision be affordable for me?" What if we told you that installing solar panels is very economical due to various residential solar financing options available in India. 

Owning a solar power plant in India is convenient today because you can find various available solar financing options. Multiple government schemes and NBFCs like the Indian Renewable Energy Development Agency offer residential solar financing options like solar panel loans at reasonable costs to support the convenient adoption of solar energy. 

Solar panel loans are excellent financing options with the exact basic structure, terms and conditions like other home improvement loans. The only difference is that some states offer subsidised solar energy loans with low interest rates. 

What to consider while choosing solar panel loans as your residential solar financing solution: 

If monthly savings on your electric bills are higher than the monthly loan payment, you save money faster.

With low-interest rates, you get low overall costs.

Short term loans usually have higher monthly payments and lower total costs over the loan period.

By choosing a solar loan as your financing option, you can save 40-70% on electricity costs over your solar panel's lifetime.

Buying a solar panel system outright makes you eligible for financial incentives like investment tax credit. 

Secured solar loans can be an additional source of income as they can be tax-deductible

Other Solar Finance Options

Other than solar panel loans there are a few other options that can prove to be beneficial if you are considering financing your solar panel installation. The below-mentioned options are among the commonly opted solutions:

Solar Lease and Power Purchase Agreements

In solar leases and power purchase agreements, the third party owner (TPO) installs solar panels, and you pay them at lower rates to use the solar electricity. It helps you save 10-30% of your monthly electricity bill without any investment. In addition, since the TPO owns the panels, it is responsible for maintenance and is eligible for rebates, incentives, or tax credits. 

Solar Lease and Power Purchase Agreements

In solar leases and power purchase agreements, the third party owner (TPO) installs solar panels, and you pay them at lower rates to use the solar electricity. It helps you save 10-30% of your monthly electricity bill without any investment. In addition, since the TPO owns the panels, it is responsible for maintenance and is eligible for rebates, incentives, or tax credits. 

Banks and NBFCs

Banks offer top-up loan plans like home loans and renovation loans. Many banks primarily fund solar installations at differing interest rates, starting from 10-18%. The maximum tenure also ranges from 1-5 years up to 20 years for different banks. Non-banking financial companies also fund solar installations. However, their interest rates range from 13-24%.

Retailers

Solar financing company like Vikram Solar, TATA Solar, and MYSUN also fund their end customers through their dealer networks. As a result, customers can choose among various affordable financing services offered by the solar panel provider. 

Solar Finance Companies In India

MYSUN is a prominent solar financing company in our country that provides hassle-free solar financing alternatives for industrial, commercial, and retail customers. Their no-collateral solar financing solution makes getting solar more inexpensive for you. Customers can choose from various choices, including SME loans, working capital loans, project finance, and third-party investors, among others, which make the brand a popular solar financing company. Furthermore, their collateral-free solar financing is backed by a guaranteed guarantee and a service commitment.

[classyfoxdestiny]

Powering agriculture in India - Hindustan Times

Powering agriculture in India - Hindustan Times

The Government of India launched the Pradhan Mantri Kisan Urja Suraksha evam Utthaan Mahabhiyan (PM-KUSUM) scheme in 2019 to improve irrigation access and farmers’ income through solar-powered irrigation. Under its components A and C, the scheme aims to promote innovative models for solar-powered irrigation by setting up solar power plants on agricultural land, and solarising existing grid-connected pumps, respectively. These components intend to support farmers to be net energy producers and earn an additional income. Concomitantly, the state governments are expected to reduce their agriculture power subsidy bills, while the discoms procure low-cost solar power sourced closer to the consumers through these models.

Notwithstanding the pandemic-related challenges, with almost half the scheme’s target period already over, these components have not taken off in most states. Only the Rajasthan government has offered letters of award for projects under Component A. Rajasthan is also the only state that has begun installing grid-connected solar pumps under Component C, that too on an experimental basis. In contrast, Component B of the scheme promotes stand-alone solar pumps and is progressing well across many states. Therefore, this study investigates the reasons behind the slow uptake of the components A and C of the PM- KUSUM scheme and proposes solutions to overcome the key barriers.

We do so by capturing the experience of seven Indian states in the implementation of the components A and C of the PM-KUSUM scheme and related previous pilots. Our findings are based on detailed interviews with 15 key informants across power distribution companies, state nodal agencies, developers, system integrators, and manufacturers. During the semi- structured interviews, which lasted for 45-90 minutes, we focused on identifying potential administrative, regulatory, financial, operational, and technical challenges hindering the scheme’s rollout. We also discussed possible solutions to address these challenges.

In addition, we conducted a scenario-based economic analysis to assess the economic viability of Component C for farmers, the power distribution companies (discoms), and the government. Below we summarise our key findings and recommendations.

Component A

Under Component A, farmers can set up solar or other renewable power plants on their land (directly or by leasing out land to developers), and the discom would purchase power from them. Most discom respondents were enthusiastic about this component due to its potential to reduce the power-purchase cost, but shared concerns about several implementation challenges, including surplus of contracted generation capacity. Unattractive tariffs for developers, delays in land leasing/conversion and inability of farmers to mobilise equity or debt finance also emerged as key challenges. To overcome these challenges, we propose the following recommendations for Component A.

1.Modify the scheme timelines to enable the inclusion of Component A in discoms’ power-purchase planning

Many discoms are not in a position to benefit in the short term from the component due to surplus contracted capacity and low variable cost of power from conventional power plants. Many are not in a position to shoulder the additional burden for long-term benefits, a situation further exacerbated by the pandemic-induced stress on discoms’ finances. Savings from renewable purchase obligation (RPO) fulfilment also depends

on the discoms’ power-purchase plans and the level of enforcement of RPO regulations. The ministry of new and renewable energy (MNRE) should modify the timelines for the scheme to enable the discoms to align the component with their power-purchase planning and gain maximum benefit from the component. The central government should also strengthen the RPO regulations enabling the discoms to plan for RPO fulfilment through Component A power plants.

2. Reduce risks and improve the competitiveness of decentralised power plants

The MNRE should study the impact of new customs duty on the cost competitiveness of small-capacity power plants and take appropriate measures to mitigate the associated disadvantages. The MNRE, in consultation with the Forum of Regulators (FOR), should also prepare a guidance note for the state SERCs to standardise an approach for tariff for Component-A power plants considering the factors like limited economies of scale, lower DC-to-AC conversion efficiency, etc. Two key risks concerning the deployments under Component A are grid unavailability and counter-party risk. The MNRE should strengthen the compensation clauses in grid unavailability and put the onus on the discoms to ensure a minimum grid availability. The discoms should be penalised in the event of failure to honour the power-purchase agreements (PPAs) to reduce the counterparty risks for the developers.

3. Undertake broader policy reforms to address the bias against distributed solar power plants

Under the current Inter-State Transmission System (ISTS) regulations, solar power plants are exempt from transmission charges, and no transmission losses are accounted for towards solar generation. This statute, which was brought in over a decade ago to promote the solar power sector, has unintendingly favoured large utility-scale solar power plants in a few states with high generation potential, like Rajasthan, over the distributed solar plants. The former offers cheaper rates due to favourable generation conditions and the discoms do not have to bear the inter-state transmission costs, thus reducing the effective cost of power by about INR 0.5-2.2 per kWh. The central government should do away with this archaic statute and initiate policies favouring distributed power plants if Component A or similar schemes are to succeed.

4. Streamline land regulations to ensure smooth implementation

State regulations concerning land leasing and land conversion from agricultural to non- agricultural uses have been a critical barrier in the scheme’s implementation. Some states prohibit the leasing of agricultural lands for non-agricultural purposes. Even states like Karnataka, with provision for ‘deemed diversion’ of agricultural land for solar projects, have witnessed administrative delays in this regard. Implementing agencies should work closely with the state revenue department to identify and address these challenges.

5. Adopt innovative models to overcome financing challenges with farmer-owned power plants

Usual means of project financing for developers are inadequate for farmer-owned power plants for two reasons. One, farmers are not able to raise/contribute the 30 per cent equity for the power plant. Two, in the absence of any track record as a developer, they cannot access loans from banks without collateral. Banks do not take agricultural land as collateral for non-agricultural purposes. State nodal agencies (SNAs) need to work with financial institutions to try innovative models such as the farmer-developer special- purpose vehicle (SPV) piloted in Karnataka.

6. Ensure inter-departmental coordination to mitigate any issues in the planning and implementation phases

Multiple agencies like the discoms, SNAs and revenue departments have roles to play at different stages of implementing this component. States should form a PM-KUSUM steering committee, led by the implementing agency, with state-level representatives from all the departments concerned. Such an arrangement can anticipate any inter- department coordination issues in the planning and implementation phases and address them.

Component C

The Component-C of the PM-KUSUM scheme aims to support the solarisation of the existing grid-connected pumps through two models – individual-pump solarisation and feeder-level solarisation. In this study, we focused only on the individual solarisation model as many of the challenges and issues concerning feeder-level solarisation are akin to Component A.

We find that most stakeholders are not enthusiastic about this model. The discom representatives unanimously anticipated difficulty getting farmers to pay the upfront contribution, as most target farmers already benefit from free or highly subsidised power. In the absence of upfront beneficiary contribution from the farmers, the economic viability of the component is uncertain. The alternative financing options – either increasing the farmer’s loan component or increasing the government subsidy share – both necessitate a lower feed-in tariff (FiT) while balancing the burden on the exchequer. In such cases, the opportunity cost of selling power becomes higher for the farmer, as they could benefit more by growing more crops or selling water to neighbours. We find that, in specific contexts, farmers have chosen such alternative options, which in turn affects the loan repayment and the financial viability of the model. We also found that the SERCs are not adequately equipped to assess the opportunity costs of selling surplus power while deciding the FiT, leading to a wide variation in the FiT under Component C across states.

We also identify operational challenges for the discoms pertaining to metering and billing, free-ridership, and gaps in infrastructure. While metering is critical for accounting under Component C, it is afflicted by issues of trust deficit between the farmers and the discoms and challenges in billing sparsely distributed agricultural connections. The free-rider problem emerges when only some farmers in a feeder participate in the scheme, while the rest gain access to reliable day-time supply without investing in the solar asset. Finally, inadequate maintenance of the agricultural feeders by the discoms due to poor revenue recovery is also a concern, as Component C requires that feeders are well-maintained and on, at least during the daytime.

Overall, there remain significant uncertainties around the economic viability and operational sustainability of Component C. We propose the following steps to address the unknowns before implementing the model at scale.

1. Discoms should lead the component’s implementation

The study makes it abundantly clear that the implementation of the component will throw up many challenges that only the discoms can tackle. The discoms’ role in Component C is pre-eminent, and all the states should appoint the discoms as the implementing agency for the component.

2. Pilot the model in different contexts

The experience from the limited number of pilots on the individual-pump solarisation model so far suggests that the outcome of Component C depends on an array of localised factors. The current cropping pattern, the existing power supply conditions and alternative options with surplus power are some of these determinants. Given that these factors vary immensely even within states, states must carry out pilots in different agro economic contexts before scaling up the model. The pilots should specifically test out the following aspects:

Beneficiary contribution and metering modalities:

Farmer’s willingness to pay for solarisation would depend on many factors like the current supply condition, the FiT and the metering modality. The discoms need to test out different combinations of financing structure and metering options acceptable to farmers and assess their economic viability.

Use of surplus power and impact on groundwater:

Using surplus power for selling water or cultivating more crops can put more stress on the groundwater, particularly in water-scarce regions. The discoms should conduct pilots to study farmers’ behaviour concerning surplus power and water use, to better plan their deployment strategy. Carefully designed financial models should be piloted in different contexts before scaling-up also prioritise farmers using water-efficient practices to achieve the component objectives sustainably.

Feasible approaches to address metering, billing and free-rider problem:

Technological solutions like smart meters and smart transformers can address some of the operational concerns but come with their own challenges. Network connectivity and trust issues with remote billing can pose a challenge. The discoms must engage with the farmers in the target feeder to ensure maximum participation in a feeder, build trust, and promote community ownership of the scheme during the pilots.

Infrastructure costs: The discoms should carry out comprehensive infrastructure assessment in the pilot projects to assess the infrastructure challenges and costs. The study should include pump sizes in use by the farmers, the status of grid infrastructure, and sources of other commercial losses before implementing the component in any feeder.

3. Complement the component with other key measures to make it viable

The states along with the MNRE could take some essential steps to make Component C more feasible and sustainable.

Larger reforms in agriculture power supply: It is pretty difficult to get farmers to contribute to the scheme component in the backdrop of free agriculture power. Component C cannot be decoupled from the larger reforms needed in the sector. Instead, it should be implemented in consonance with subsidy and tariff reform measures.

Pump replacement: Although the states are not receiving the central government’s subsidy share for pump replacement, replacing old inefficient pumps with efficient ones is likely to have a net positive outcome for both the state and the farmer. The discoms can test out the overall benefit from pump replacement through pilot studies.

Framework for determining FiT: As the conventional methods

if determining electricity tariffs are inadequate to capture the complexities of the scheme, the MNRE should create a framework to guide the SERCs to determine a FiT that is viable for the discom, farmers, and the state government.

The study has been accessed by clicking here.

(The study has been authored by Anas Rahman and others)

. Source link

[megamax-solar]

What are the easy ways to get collateral free loan in India?

[electronica-finance-ltd]

Rooftop Solar Benefits and Solar Financing

Solar sector is extremely dynamic in India right now as India is the fifth biggest power generator on the planet. Exploring the rooftop solar market is crucial for India to meet its massive energy needs. Solar parks need land, and the land is scarce in a densely populated country like India. Rooftops, on the other hand, hold huge potential. Companies that want to make the transition into an eco-friendly energy option can consider investing in a rooftop solar panel setup. Taking the green approach could bring about a wide variety of advantages for businesses.

Why go solar?

Save money for other business expenses:

Sunlight is a clean as well as cost-effective source of energy unlike coal-based sources. You can utilize rooftop solar panels to reduce your energy expenses. The money saved can be hence reinvested for business expansion or purchase/update machinery.

Save on maintenance expenses:

Besides the reduced energy costs, you can expect lower maintenance. This is due to the lack of moving parts, which are prone to wear and tear, and consequently, high repair or replacement cost. The only maintenance factor for rooftop solar panels is keeping the panels free from dirt as it may obstruct the absorption of sunlight, and subsequently, the generation of electricity.

Relatively faster payoff:

It doesn’t typically take a long time to see your commercial rooftop solar investment pay off (approximately 5-6 years). It has a faster value realization.

Reduce dependence on costly power sources:

If you are a rural consumer or situated at a remote location, solar is the most economical solution to complete your electricity needs. By using rooftop solar power, you can not only stabilize your existing electricity supply but also reduce your dependence on more expensive sources of power like diesel generators and inverters.

Flexibility of utilization:

When many people think of solar power possibilities, they consider interior lighting as the only application. Besides that, solar energy, when converted into heat energy, can be utilized for – hot water usage for bathing and washing, boilers, Pasteurization, condensation and cleaning in milk dairies, drying and tanning in leather process industries, degreasing and phosphating in metal finishing industry, resin emulsification in polymer industry, drying in food, wood, livestock etc., all of which could boost a company’s cost efficiency.

However, the upfront cost of a rooftop solar power system can be sizeable, especially depending on your specific needs. Financing and service have to become an integral part of the solar solution offerings. SMEs can opt for financing solutions to cover up the purchase and installation costs.

For MSMEs, installing a rooftop solar power unit can be a trouble for multiple reasons. Due to credit ratings limit, it is difficult for small entrepreneurs to raise funds from banks. Even though lending institutions like banks have got rooftop specific credit lines and are providing loans at concessional rates and both private sector and nationalized banks have been very forthcoming in providing loans for financing rooftop solar projects, higher interest rates are another challenge for SMEs. Some lending institutions also need collateral even for small loan amounts, which can be a crisis for some SMEs. It is crucial to select a solar financing choice that suits your establishment.

Electronica Finance Ltd. offers a rooftop solar power loan at attractive interest rates to not only manufacturing companies, but also to educational institutions, hospitals, service industries etc. to encourage the use of solar energy. It is the only NBFC which offers a rooftop solar power loan. The loan covers around 75% value of system or installation. For loan amount up to Rs.15 lakhs, it can be availed collateral-free. Interest rates are flexible and based on the customer’s profile. EFL rooftop solar panel loans can be availed within 7 working days and require minimal documentation.

With its almost 3 decades of extensive experience in asset financing, Electronica Finance Limited can help your establishment go solar and save considerable expenses on electricity.

If looking for rooftop solar panels, EFL Connections is an online marketplace that can help you find solar panels at reasonable rates. EFL Connections allows you to connect directly solar panel sellers without any interruptions. With EFL Connections, you can find the rooftop solar panel of your choice, new or used. For more information, head to – EFL Connections

[smarthomerig]

Finding A Home Improvement Idea

And, if you are having a hard time finding a contractor you trust - if every one you've interviewed reminds you of a politician - ask for a referral from people you know. Your friends, your family, or the butcher at your local market may all know of a great contractor. Take your time in hiring help: it's better to be safe than scammed. Don't Do Things Yourself that You Can't Do Yourself: Home improvement, for some people, is a time when pride comes out: it gives self-proclaimed handyman a chance to prove their handiness. For this reason, people often tackle jobs for which they aren't really qualified. If you know nothing about installing a sink, don't install one yourself: hire a plumber. If you know nothing about pre-wiring a ceiling fan, consult an electrician. If your legs shake each time you climb a ladder, have someone else fix the roof. Don't put yourself or the quality of your home improvement at risk by being too prideful to ask for help: hire a contractor, then just tell everyone that you did it yourself. Home improvement can surely test your patience. Everything seems a little more expensive, turns out to be a little harder to do, and takes a little longer to fix than you thought. But, in the end, you might just find that it was well worth it: your home improvement may just lead to much more home enjoyment. Your whole project could possibly be finished in a short amount of time if installed by a respected contractor of your choosing. You will get your old home looking brand-new and bright and shiny with new siding. Your entire home will complement precisely the same bold colors you choose together with your window and door trim will match also. The cost of one's old home will sky rocket and if you ever consider selling the home, you'll receive higher offers for it. You're most likely wondering why you may want to install new vinyl siding versus aluminum siding. There are many of great benefits of using vinyl; however, the concluding decision is yours. You will discover numerous of differences between aluminum siding and vinyl. Vinyl siding is manufactured from a continuous formed plastic material and most likely consists of a thickness between.040 to.046 inches. Aluminum siding is a continuous formed material that is usually around.019 inches thick. Smaller amount of loan of up to £25000 is accessible without collateral in case of the unsecured loan. Its repayment duration ranges from few months to 10 years, keeping your repayment ability in mind. However, these are costly loans with higher rate of interest attached. Your credit report must be fully error free as the loan provider will first see it for assessing the risks. So, check the report for any inaccuracies. It is prudent to go for the loan with improved credit rating on first paying off some easier debts. Usually, bad credit home improvement loan comes at competitive rate of interest from online lenders as you can compare them extensively. First apply for their rate quotes and see their additional fee charges too in order to find out a suitable and less burdensome deal. Your home is at stake and, therefore, makes the loan installment payments on time. Installing Sliding Doors: 3 Things To Consider Sliding doors are a great way to enhance your home. Here are three things to consider as you decide whether theyre right for you. Solar panels and photovoltaic shingles are both good ways to collect the suns energy on the roof of your home. What exactly is organic gardening and why would you want to do it? Can I Really Save Money With A Tankless Water Heater? Yes, absolutely yes, you can save money with a tankless water heater. What exactly is organic gardening and why would you want to do it? When you take on the challenge of overseeing the construction of a house, there are many important decisions to be made. Certainly, it can feel overwhelming. Installing a heat pump is a great way to save on energy costs. After taking a good look at your property you discover a few difficulties that you are going to have to address very soon. This is more common than you may think. Perhaps you do not want to do anything too radical at this time. Some home improvement tips and advice are specially designed for those not so glamorous projects; like unplugging drains, sewer lines or gutters. As we all know, these types of home improvements must be completed as well to preserve the value of our homes, but once you have a few items fixed around the house, you will want to seek some home improvement tips and advice that will add even more value to your home. There are several simple projects that you could consider for increasing your homes value greatly, however; it is very important that you first set a budget and then create a basic idea and layout of what type of style you like best, based on the available funds you have set for your next home improvement project. You might add a door to the spare bathroom and then some paint to make a substantial value increase to the over all homes value.

https://smarthomerig.com/what-is-a-single-pole-light-switch/

[mikemortgage]

TerraForm Power Reports Fourth Quarter and Full Year 2018 Results

NEW YORK — TerraForm Power, Inc. (Nasdaq:TERP) (“TerraForm Power”) today reported financial results for the quarter and year ended December 31, 2018.

Highlights

Invested $1.2 billion to acquire Saeta Yield, S.A.U. (“Saeta”), a 1,000 MW portfolio of high-quality wind and solar assets located primarily in Spain that established a scale operating platform in Europe

Invested ~$28 million in organic growth initiatives with an average return on equity of ~19%

Progressed efforts to execute long term service agreements with General Electric (“GE”) for North American wind fleet that are expected to lock in annual cost savings of ~$20 million and enhance revenues through performance guarantees backed by liquidated damages

Completed solar performance improvement plan, expected to increase annual production by ~61 GWh and revenue by ~$11 million

Issued $650 million in equity to fund the Saeta acquisition at attractive terms pursuant to backstop arrangement with affiliates of Brookfield Asset Management

Raised ~$160 million of non-recourse debt in conjunction with the financing plan for the Saeta acquisition

Achieved upgrade of corporate credit rating from Moody’s to Ba3

Repriced $350 million Term Loan B yielding projected annual savings of approximately $2.5 million

Declared a Q1 2019 dividend of $0.2014 per share, an increase of 6% from Q4 2018, and implying $0.8056 per share on an annual basis

“During 2018, we made significant progress building the foundation to transform TerraForm Power into a fully-integrated renewable power company that delivers a sustainable, total return in the low teens to our shareholders,” said John Stinebaugh, CEO of TerraForm Power. “In 2019, we look forward to reaping the benefits from this foundation and further investing in our repowerings and other growth opportunities.”

Results

3 Months Ended

12/31/2018

3 Months Ended

12/31/2017

12 Months Ended

12/31/2018

12 Months Ended

12/31/2017

Generation (GWh) 2,214 1,852 8,088 7,167 Net Loss ($ in millions) (30) (142) (153) (236) Earnings (loss) per Share1 $(0.07) $(0.31) $0.07 $(1.61) Adjusted EBITDA2 ($ in millions) 170 110 590 438 Cash Available for Distribution (“CAFD”)2 ($ in millions) 27 26 126 88 per Share1,2 $0.13 $0.18 $0.69 $0.62

1 Loss per share is calculated using a weighted average diluted Class A common stock shares outstanding. CAFD per share is calculated using a weighted average diluted Class A common stock and weighted average Class B common stock shares outstanding. For the twelve months ended December 31, 2018, weighted average diluted Class A common stock shares outstanding totaled 182 million, including issuance of 61 million to affiliates (for the twelve months ended December 31, 2017, this amount was 104 million). For the twelve months ended December 31, 2018, there were no weighted average Class B common stock shares outstanding (for the twelve months ended December 31, 2017, this amount was 38 million). 2 Non-GAAP measures. See “Calculation and Use of Non-GAAP Measures” and “Reconciliation of Non-GAAP Measures” sections. Amounts in 2017 adjusted for sale of our UK and Residential portfolios.

Financial Results

While we made much progress, 2018 was a transitional year for TerraForm Power. During the course of the year, we accelerated our blade inspection and repair program due to the Raleigh outage and to prepare to turn over operations of our wind farms to GE. This resulted in a significant increase in turbine downtime. In addition, we lost a considerable amount of production from our solar fleet, which operated at an availability of 91% in the first half of the year prior to the initiation of our performance improvement plan.

For the full year 2018, TerraForm Power delivered Net Loss, Adjusted EBITDA and cash available for distribution (“CAFD”) of $(153) million, $590 million and $126 million, respectively. This represents a decrease in Net Loss of $83 million, an increase in Adjusted EBITDA of $152 million and an increase in CAFD of $38 million, compared to 2017. The improvement in our results primarily reflects two fiscal quarters of contribution from Saeta. This contribution was offset by below average North American wind production in part due to an especially strong El Niño and challenging ERCOT pricing dynamics as a result of maintenance of the transmission system, which reduced transfer capacity during peak wind resource season. Thus far in 2019, power prices in the Texas panhandle have improved as the transmission system has been fully on-line.

In 2018, North American wind production was 10% below our LTA. Of the shortfall, 4% can be attributed to poor wind resource, particularly in Hawaii and the Midwest, 2% to abnormally high non-reimbursable curtailment, 2% to the impact of the Raleigh-related outages and 2% to downtime for blade inspections and repairs. Our solar and regulated platforms performed in-line with expectations for the most part. In our solar platform, significantly reduced curtailment in Chile due to debottlenecking of the transmission grid offset low availability in the first half of the year. In our regulated platform, lower than expected solar resource was offset by wholesale electricity prices that averaged 10% higher than the prior year.

Liquidity Update

We continue to progress the execution of the $350 million non-recourse debt component of our financing plan for the Saeta acquisition. We expect to close our third and fourth project financings, raising proceeds of ~$100 million and $90 million, respectively by the end of the first half of 2019.

We also recently launched the refinancing of our wind facility in Uruguay (~95 MW). Based on negotiations with lenders, we are planning on extending the tenor, improving sizing parameters and reducing the margin. Upon expected closing in the second quarter, we anticipate upsizing the financing by approximately $60 million. To further support corporate liquidity, we released $24 million in cash in December by collateralizing reserve accounts with letters of credit at two wind projects in North America. In addition, we launched the consent process for certain Spanish projects to replace cash funded reserve accounts with letters of credit.

Operations

To date, we have signed LTSAs with GE for 10 of 16 projects in our North American wind fleet. In parallel, we have made significant progress obtaining the required lender and tax equity partner consents and are in negotiations with service providers for the early termination of existing service contracts. GE is now fully operating six sites, and we anticipate handing over the remaining sites in the first half of this year.

Beginning in Q3 2018, we solicited proposals for LTSAs for 500 MW of our Spanish wind fleet. The fleet is comprised of turbines manufactured by Vestas, GE, Siemens and Gamesa. Based on proposals that we have received, we are in the process of replacing the current operator of the wind farms with the respective manufacturers. In December, we reached a preliminary agreement with Vestas to extend the O&M contract for our Uruguayan wind farms in exchange for an improvement in technical and economic terms. Finally, we recently launched an RFP to improve the O&M contract terms for our North American solar fleet. Thus far, there has been very strong interest from large third-party providers. Our goal is to lower our cost and improve the alignment of interests by implementing production guarantees with penalties and bonuses based upon performance, similar to our North American wind LTSAs. As a result of these initiatives, we believe that we will be able to reduce annual O&M costs by approximately $6 million, commencing in the second half of this year.

Finally, for our North American and European wind farms, we have commenced the technical analysis and permitting to implement turbine optimization technology, including GE’s Power Up offering. Upon completion, we expect to increase production across our wind fleet and generate approximately $2 million of incremental revenue.

Growth Initiatives

During the year, we continued to advance the 160 MW repowering of our New York wind farms. We believe that there is strong support in the state for investment in renewable power, particularly with Governor Cuomo’s vision for a “Green New Deal” to achieve a 100% carbon-free power grid by 2040. Through engagement with key government stakeholders, including the Governor’s office, the Department of Public Service, and the New York State Energy Research and Development Authority (“NYSERDA”), we have built a strong base of support for a proposal that would benefit our repowerings. In January 2019, NYSERDA expressed support for a plan which includes a greater allocation of renewable energy credits (“RECs”) for repowerings based on their projected increase in production over the status quo, which was largely based on our proposal. On a parallel path, there is a bill in the New York State legislature that would require all electricity suppliers to procure RECs from renewable generators built before 2015. While it is unclear how these processes will unfold, it is encouraging that both the key regulatory agencies and the state legislature are looking to create a competitive market for RECs generated by repowered facilities.

In light of our progress to date, we have accelerated the pace of our repowering efforts in New York. Since we can build these wind farms at a 40% discount to greenfield projects, we plan to replace the existing Clipper turbines that have been derated and have significant operating risk going forward, and we expect to utilize production tax credit (“PTC”) safe-harbored turbines that would increase production by 25% to 30%, we believe we can earn returns above our target range of 9% to 11% on equity based on the existing incentive regime and current wholesale power market prices. If we are able to obtain additional incentives and/or we are able to obtain premium pricing for renewable power, we could achieve significant upside. Finally, we are in discussions with Hawaiian Electric to evaluate options for repowering our Kahuku wind facility on Oahu island. We believe that this project has an attractive value proposition for all stakeholders. Hawaii has a very aggressive goal of 100% carbon free power generation by 2040. This repowering would increase production from Kahuku by 30%, and similar to New York, we would reduce prospective operating cost and risk by replacing the existing Clipper turbines.

During 2018, we invested ~$28 million in organic growth initiatives, which we expect will earn a return on equity of approximately 19%. Highlights include acquiring 6 MW of solar assets under a legacy right of first offer for $4 million, investing $4 million to acquire minority interests, including tax equity interests, investing $4 million in the expansion of one of our solar farms and investing $11 million in our battery energy storage project in Hawaii. Furthermore, in December 2018, we invested $4 million to acquire a regulated 4 MW solar PV asset as part of our consolidation strategy in the fragmented Spanish renewables market.

Regulatory and Counterparty Update

In December 2018, the Spanish Government published a proposed law, which provides the option of keeping the regulated return at its current level of 7.4% for the next 12 years commencing 2020 for all renewable assets in operation before September 2013. This applies to all of our Spanish assets. In February 2019, following the failure to ratify its budget, the Spanish government announced that new elections will be held on April 28, 2019. Despite this uncertainty, we are optimistic that a favorable outcome on the regulated return will be achieved, in light of broad based support for renewable power amongst Spanish political parties as well as the recommendation of a 7.1% regulated return put forward by the CNMV, which is an independent Spanish state agency. However, with the pending election, this could delay the timeline for ratification of the law and could also result in a change to the proposed regulated rate of return.

Facing billions of dollars in claims over deadly wildfires in California, PG&E filed for bankruptcy on January 29, 2019. The bankruptcy filing has not resulted in an event of default for any of our projects with PG&E as an offtaker. At this stage, it is unclear whether PG&E will be able to reject its existing renewable power contracts. Even though our PG&E exposure is less than 1% of our portfolio, we have joined with other industry players to advocate for continuing to honor existing renewable power contracts.

Announcement of Quarterly Dividend

TerraForm Power today announced that, on March 13, 2019, its Board declared a quarterly dividend with respect to TerraForm Power’s Class A common stock of $0.2014 per share. The dividend is payable on March 29, 2019, to stockholders of record as of March 24, 2019. This dividend represents TerraForm Power’s fifth consecutive quarterly dividend payment under Brookfield’s sponsorship.

About TerraForm Power

TerraForm Power owns and operates a best-in-class renewable power portfolio of solar and wind assets located primarily in the U.S. and E.U., totaling more than 3,700 MW of installed capacity. TerraForm Power’s goal is to acquire operating solar and wind assets in North America and Western Europe. TerraForm Power is listed on the Nasdaq stock exchange (Nasdaq: TERP). It is sponsored by Brookfield Asset Management, a leading global alternative asset manager with more than $350 billion of assets under management.

For more information about TerraForm Power, please visit: www.terraformpower.com.

Quarterly Earnings Call Details

Investors, analysts and other interested parties can access TerraForm Power’s 2018 Full Year and Fourth Quarter Results as well as the Letter to Shareholders and Supplemental Information on TerraForm Power’s website at www.terraformpower.com.

The conference call can be accessed via webcast on March 15, 2019 at 9:00 a.m. Eastern Time at https://event.on24.com/wcc/r/1868899/535D3AA90E42BFE84348A1E0721D4251, or via teleconference at 1-844-464-3938 toll free in North America. For overseas calls please dial 1-765-507-2638, at approximately 8:50 a.m. Eastern Time. A replay of the webcast will be available for those unable to attend the live webcast.

Safe Harbor Disclosure

This communication contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements can be identified by the fact that they do not relate strictly to historical or current facts. These statements involve estimates, expectations, projections, goals, assumptions, known and unknown risks, and uncertainties and typically include words or variations of words such as “expect,” “anticipate,” “believe,” “intend,” “plan,” “seek,” “estimate,” “predict,” “project,” ”opportunities,” “goal,” “guidance,” “outlook,” “initiatives,” “objective,” “forecast,” “target,” “potential,” “continue,” “would,” “will,” “should,” “could,” or “may” or other comparable terms and phrases. All statements that address operating performance, events, or developments that TerraForm Power expects or anticipates will occur in the future are forward-looking statements. They may include estimates of expected cash available for distribution (CAFD), dividend growth, earnings, Adjusted EBITDA, revenues, income, loss, capital expenditures, liquidity, capital structure, margin enhancements, cost savings, future growth, financing arrangements and other financial performance items (including future dividends per share), descriptions of management’s plans or objectives for future operations, products, or services, or descriptions of assumptions underlying any of the above. Forward-looking statements provide TerraForm Power’s current expectations or predictions of future conditions, events, or results and speak only as of the date they are made. Although TerraForm Power believes its expectations and assumptions are reasonable, it can give no assurance that these expectations and assumptions will prove to have been correct and actual results may vary materially.

By their nature, forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those suggested by the forward-looking statements. Factors that might cause such differences include, but are not limited to: risks related to weather conditions at our wind and solar assets; the willingness and ability of counterparties to fulfill their obligations under offtake agreements; price fluctuations, termination provisions and buyout provisions in offtake agreements; our ability to enter into contracts to sell power on acceptable prices and terms, including as our offtake agreements expire; government regulation, including compliance with regulatory and permit requirements and changes in tax laws, market rules, rates, tariffs, environmental laws and policies affecting renewable energy; our ability to compete against traditional utilities and renewable energy companies; pending and future litigation; our ability to successfully integrate projects we acquire from third parties, including Saeta Yield S.A.U., and our ability to realize the anticipated benefits from such acquisitions; our ability to implement and realize the benefit of our cost and performance enhancement initiatives, including the long-term service agreements with an affiliate of General Electric; risks related to the ability of our hedging activities to adequately manage our exposure to commodity and financial risk; risks related to our operations being located internationally, including our exposure to foreign currency exchange rate fluctuations and political and economic uncertainties, the regulated rate of return of renewable energy facilities in our Regulated Wind and Solar segment, a reduction of which could have a material negative impact on our results of operations; the condition of the debt and equity capital markets and our ability to borrow additional funds and access capital markets, as well as our substantial indebtedness and the possibility that we may incur additional indebtedness in the future; operating and financial restrictions placed on us and our subsidiaries related to agreements governing indebtedness; our ability to identify or consummate any future acquisitions, including those identified by Brookfield; our ability to grow and make acquisitions with cash on hand, which may be limited by our cash dividend policy; risks related to the effectiveness of our internal control over financial reporting; and risks related to our relationship with Brookfield, including our ability to realize the expected benefits of the sponsorship.

The Company disclaims any obligation to publicly update or revise any forward-looking statement to reflect changes in underlying assumptions, factors, or expectations, new information, data, or methods, future events, or other changes, except as required by law. The foregoing list of factors that might cause results to differ materially from those contemplated in the forward-looking statements should be considered in connection with information regarding risks and uncertainties, which are described in our most recent Annual Report on Form 10-K and any subsequent Quarterly Report on Form 10-Q, as well as additional factors we may describe from time to time in other filings with the SEC. We operate in a competitive and rapidly changing environment. New risks and uncertainties emerge from time to time, and you should understand that it is not possible to predict or identify all such factors and, consequently, you should not consider any such list to be a complete set of all potential risks or uncertainties.

TERRAFORM POWER, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF OPERATIONS (In thousands, except per share data)

(Unaudited)

Three Months Ended December 31,

Twelve Months Ended December 31,

2018 2017 2018 2017 Operating revenues, net $ 213,093 $ 135,539 $ 766,570 $ 610,471 Operating costs and expenses: Cost of operations 74,752 42,331 220,907 150,733 Cost of operations – affiliate — 7,377 — 17,601 General and administrative expenses 22,239 40,230 87,722 139,874 General and administrative expenses – affiliate 5,310 6,498 16,239 13,391 Acquisition costs (6,856) — 7,721 — Acquisition costs – affiliate 6,925 — 6,925 — Impairment of renewable energy facilities — — 15,240 1,429 Depreciation, accretion and amortization expense 102,660 60,681 341,837 246,720 Total operating costs and expenses 205,030 157,117 696,591 569,748 Operating income (loss) 8,063 (21,578) 69,979 40,723 Other expenses (income): Interest expense, net 72,349 55,254 249,211 262,003 Loss on extinguishment of debt, net 1,480 81,099 1,480 81,099 Gain on sale of renewable energy facilities — — — (37,116) Gain on foreign currency exchange, net (6,736 ) (366 ) (10,993 ) (6,061 ) Loss on investments and receivables – affiliate — 1,759 — 1,759 Other income, net (6,972) (135 ) (4,102) (5,017 ) Total other expenses, net 60,121 137,611 235,596 296,667 Loss before income tax benefit (52,058 ) (159,189 ) (165,617 ) (255,944 ) Income tax benefit (21,707) (17,385 ) (12,290) (19,641) Net loss (30,351 ) (141,804 ) (153,327 ) (236,303 ) Less: Net (loss) income attributable to redeemable non-controlling interests (5,893) (8,668) 9,209 1,596 Less: Net loss attributable to non-controlling interests (8,969) (20,473 ) (174,916 ) (77,745 ) Net income (loss) income attributable to Class A common stockholders $ (15,489 ) $ (112,663 ) $ 12,380 $ (160,154 ) Weighted average number of shares: Class A common stock – Basic and diluted 209,142 138,401 182,239 103,866 Earnings (Loss) earnings per share: Class A common stock – Basic and diluted $ (0.07 ) $ (0.82 ) $ 0.07 $ (1.61 ) Dividends declared per share: Class A common stock $ 0.19 $ 1.94 $ 0.76 $ 1.94

TERRAFORM POWER, INC. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS (In thousands, except share and per share data)

As of December 31, 2018 2017 Assets Current assets: Cash and cash equivalents $ 248,524 $ 128,087 Restricted cash 27,784 54,006 Accounts receivable, net 145,161 89,680 Prepaid expenses and other current assets 79,520 65,393 Due from affiliate 196 4,370

Total current assets

501,185 341,536 Renewable energy facilities, net, including consolidated variable interest entities of $3,064,675 and $3,273,848 in 2018 and 2017, respectively 6,470,026 4,801,925 Intangible assets, net, including consolidated variable interest entities of $751,377 and $823,629 in 2018 and 2017, respectively 1,996,404 1,077,786 Goodwill 120,553 — Restricted cash 116,501 42,694 Other assets 125,685 123,080 Total assets $ 9,330,354 $ 6,387,021 Liabilities, Redeemable Non-controlling Interests and Stockholders’ Equity Current liabilities: Current portion of long-term debt and financing lease obligations, including consolidated variable interest entities of $64,251 and $84,691 in 2018 and 2017, respectively $ 464,332 $ 403,488 Accounts payable and accrued expenses, including consolidated variable interest entities of $55,446 and $32,624 in 2018 and 2017, respectively 177,089 85,693 Other current liabilities 38,244 2,845 Deferred revenue 1,626 17,859 Due to affiliates 6,991 3,968 Total current liabilities 688,282 513,853 Long-term debt and financing lease obligations, less current portion, including consolidated variable interest entities of $885,760 and $833,388 in 2018 and 2017, respectively 5,297,513 3,195,312 Deferred revenue, less current portion 12,090 38,074 Deferred income taxes 178,849 24,972 Asset retirement obligations, including consolidated variable interest entities of $86,456 and $97,467 in 2018 and 2017, respectively 212,657 154,515 Other liabilities 172,546 37,923 Total liabilities 6,561,937 3,964,649 Redeemable non-controlling interests 33,495 34,660 Stockholders’ equity: Class A common stock, $0.01 par value per share, 1,200,000,000 shares authorized, 209,642,140 and 148,586,447 shares issued in 2018 and 2017, respectively, and 209,141,720 and 148,086,027 shares outstanding in 2018 and 2017, respectively 2,096 1,486 Additional paid-in capital 2,391,435 1,872,125 Accumulated deficit (359,603 ) (387,204 ) Accumulated other comprehensive income 40,238 48,018 Treasury stock, 500,420 shares in 2018 and 2017 (6,712 ) (6,712 ) Total TerraForm Power, Inc. stockholders’ equity 2,067,454 1,527,713 Non-controlling interests 667,468 859,999 Total stockholders’ equity 2,734,922 2,387,712 Total liabilities, redeemable non-controlling interests and stockholders’ equity $ 9,330,354 $ 6,387,021

TERRAFORM POWER, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF CASH FLOWS (In thousands)

Year Ended December 31, 2018 2017 Cash flows from operating activities: Net loss $ (153,327 ) $ (236,303 ) Adjustments to reconcile net loss to net cash provided by operating activities: Depreciation, accretion and amortization expense 341,837 246,720 Amortization of favorable and unfavorable rate revenue contracts, net 38,767 39,576 Loss on extinguishment of debt, net 1,480 81,099 Gain on sale of renewable energy facilities — (37,116 ) Impairment of goodwill — — Impairment of renewable energy facilities 15,240 1,429 Loss on disposal of property, plant and equipment 6,231 5,828 Amortization of deferred financing costs and debt discounts 11,009 23,729 Unrealized (gain) loss on interest rate swaps (13,116 ) 2,425 Loss on note receivable 4,510 — Unrealized loss on commodity contract derivatives, net 4,497 6,847 Recognition of deferred revenue (1,320 ) (18,238 ) Stock-based compensation expense 257 16,778 Unrealized (gain) loss on foreign currency exchange, net (12,899 ) (5,583 ) Loss on investments and receivables – affiliate — 1,759 Deferred taxes (14,891 ) (19,911 ) Other, net — (1,166 ) Changes in assets and liabilities, excluding the effect of acquisitions and divestitures: Accounts receivable 12,569 (2,939 ) Prepaid expenses and other current assets (5,512 ) 803 Accounts payable, accrued expenses and other current liabilities (18,976 ) (42,736 ) Due to affiliates, net 3,023 3,968 Deferred revenue — 199 Other, net 33,822 29 Net cash provided by operating activities 253,201 67,197 Cash flows from investing activities: Cash paid to third parties for renewable energy facility construction and other capital expenditures (22,445 ) (8,392 ) Proceeds from insurance reimbursement 1,543 — Proceeds from the settlement of foreign currency contracts 47,590 — Proceeds from sale of renewable energy facilities, net of cash and restricted cash disposed — 183,235 Proceeds from energy state rebate and reimbursable interconnection costs 8,733 25,679 Other investing activities — 5,750 Acquisitions of renewable energy facilities from third parties, net of cash and restricted cash acquired (8,315 ) — Acquisition of Saeta business, net of cash and restricted cash acquired (886,104 ) — Net cash (used in) provided by investing activities $ (858,998 ) $ 206,272 Cash flows from financing activities: Proceeds from issuance of Class A common stock to affiliates $ 650,000 $ — Proceeds from the Sponsor Line – affiliate 86,000 — Repayments of the Sponsor Line – affiliate (86,000 ) — Repayment of the Old Senior Notes due 2023 — (950,000 ) Proceeds from the Senior Notes due 2023 — 494,985 Proceeds from the Senior Notes due 2028 — 692,979 Proceeds from Term Loan — 344,650 Term Loan principal repayments (3,500 ) — Old Revolver repayments — (552,000 ) Revolver draws 679,000 265,000 Revolver repayments (362,000 ) (205,000 ) Proceeds from borrowings of non-recourse long-term debt 236,251 79,835 Principal payments and prepayments on non-recourse long-term debt (259,017 ) (569,463 ) Debt premium prepayment — (50,712 ) Debt financing fees (9,318 ) (29,972 ) Sale of membership interests and contributions from non-controlling interests in renewable energy facilities 7,685 6,935 Purchase of membership interests and distributions to non-controlling interests in renewable energy facilities (29,163 ) (31,163 ) Net SunEdison investment — 7,694 Due to/from affiliates, net 4,803 (8,869 ) Payment of dividends (135,234 ) (285,497 ) Recovery of related party short swing profit 2,994 — Other financing activities — 1,085 Net cash provided by (used in) financing activities 782,501 (789,513 ) Net increase (decrease) in cash, cash equivalents and restricted cash 176,704 (516,044 ) Net change in cash, cash equivalents and restricted cash classified within assets held for sale — 54,806 Effect of exchange rate changes on cash, cash equivalents and restricted cash (8,682 ) 3,188 Cash, cash equivalents and restricted cash at beginning of period 224,787 682,837 Cash, cash equivalents and restricted cash at end of period $ 392,809 $ 224,787

Reconciliation of Non-GAAP Measures

This communication contains references to Adjusted Revenue, Adjusted EBITDA, and cash available for distribution (“CAFD”), which are supplemental Non-GAAP measures that should not be viewed as alternatives to GAAP measures of performance, including revenue, net income (loss), operating income or net cash provided by operating activities. Our definitions and calculation of these Non-GAAP measures may differ from definitions of Adjusted Revenue, Adjusted EBITDA and CAFD or other similarly titled measures used by other companies. We believe that Adjusted Revenue, Adjusted EBITDA and CAFD are useful supplemental measures that may assist investors in assessing the financial performance of the Company. None of these Non-GAAP measures should be considered as the sole measure of our performance, nor should they be considered in isolation from, or as a substitute for, analysis of our financial statements prepared in accordance with GAAP, which are available on our website at www.terraform.com, as well as at www.sec.gov. We encourage you to review, and evaluate the basis for, each of the adjustments made to arrive at Adjusted Revenue, Adjusted EBITDA and CAFD.

Calculation of Non-GAAP Measures

We define Adjusted Revenue as operating revenues, net, adjusted for non-cash items, including (i) unrealized gain/loss on derivatives, (ii) amortization of favorable and unfavorable rate revenue contracts, net, and (iii) an adjustment for wholesale market revenues to the extent above or below the regulated price bands.

We define Adjusted EBITDA as net income (loss) plus (i) depreciation, accretion and amortization, (ii) non-cash general and administrative costs, (iii) interest expense, (iv) income tax (benefit) expense, (v) acquisition related expenses, and (vi) certain other non-cash charges, unusual or non-recurring items and other items that we believe are not representative of our core business or future operating performance.

We define “cash available for distribution” or “CAFD” as Adjusted EBITDA (i) minus cash distributions paid to non-controlling interests in our renewable energy facilities, if any, (ii) minus annualized scheduled interest and project level amortization payments in accordance with the related borrowing arrangements, (iii) minus average annual sustaining capital expenditures (based on the long-sustaining capital expenditure plans) which are recurring in nature and used to maintain the reliability and efficiency of our power generating assets over our long-term investment horizon, (iv) plus or minus operating items as necessary to present the cash flows we deem representative of our core business operations.

As compared to the prior year periods, we revised our definition of CAFD to (i) exclude adjustments related to deposits into and withdrawals from restricted cash accounts, required by project financing arrangements, (ii) replace sustaining capital expenditures payment made in the year with the average annualized long-term sustaining capital expenditures to maintain reliability and efficiency of our assets, and (iii) annualized debt service payments. We revised our definition of CAFD as we believe the revised definition provides a more meaningful measure for investors to evaluate our financial and operating performance and ability to pay dividends. For items presented on an annualized basis, we present actual cash payments as a proxy for an annualized number until the period commencing January 1, 2018.

Furthermore, to provide investors with the most appropriate measures to assess the financial and operating performance of our existing fleet and the ability to pay dividends in the future, we have excluded results associated with our U.K. solar and Residential portfolios, which were sold in 2017, from Adjusted Revenue, Adjusted EBITDA and CAFD reported for all periods.

Use of Non-GAAP Measures

We disclose Adjusted Revenue because it presents the component of operating revenue that relates to energy production from our plants, and is, therefore, useful to investors and other stakeholders in evaluating performance of our renewable energy assets and comparing that performance across periods in each case without regard to non-cash revenue items.

We disclose Adjusted EBITDA because we believe it is useful to investors and other stakeholders as a measure of our financial and operating performance and debt service capabilities. We believe Adjusted EBITDA provides an additional tool to investors and securities analysts to compare our performance across periods without regard to interest expense, taxes and depreciation and amortization. Adjusted EBITDA has certain limitations, including that it: (i) does not reflect cash expenditures or future requirements for capital expenditures or contractual liabilities or future working capital needs, (ii) does not reflect the significant interest expenses that we expect to incur or any income tax payments that we may incur, and (iii) does not reflect depreciation and amortization and, although these charges are non-cash, the assets to which they relate may need to be replaced in the future, and (iv) does not take into account any cash expenditures required to replace those assets. Adjusted EBITDA also includes adjustments for goodwill impairment charges, gains and losses on derivatives and foreign currency swaps, acquisition related costs and items we believe are infrequent, unusual or non-recurring, including adjustments for general and administrative expenses we have incurred as a result of the SunEdison bankruptcy.

We disclose CAFD because we believe cash available for distribution is useful to investors and other stakeholders in evaluating our operating performance and as a measure of our ability to pay dividends. CAFD is not a measure of liquidity or profitability, nor is it indicative of the funds needed by us to operate our business. CAFD has certain limitations, such as the fact that CAFD includes all of the adjustments and exclusions made to Adjusted EBITDA described above.

The adjustments made to Adjusted EBITDA and CAFD for infrequent, unusual or non-recurring items and items that we do not believe are representative of our core business involve the application of management judgment, and the presentation of Adjusted EBITDA and CAFD should not be construed to infer that our future results will be unaffected by infrequent, non-operating, unusual or non-recurring items.

In addition, these measures are used by our management for internal planning purposes, including for certain aspects of our consolidated operating budget, as well as evaluating the attractiveness of investments and acquisitions. We believe these Non-GAAP measures are useful as a planning tool because it allows our management to compare performance across periods on a consistent basis in order to more easily view and evaluate operating and performance trends and as a means of forecasting operating and financial performance and comparing actual performance to forecasted expectations. For these reasons, we also believe these Non-GAAP measures are also useful for communicating with investors and other stakeholders.

The following tables present a reconciliation of operating revenues to Adjusted Revenue and net loss to Adjusted EBITDA and to CAFD and has been adjusted to exclude asset sales in the U.K. and Residential portfolios:

Three Months Ended December 31 Twelve Months Ended December 31 (in millions) 2018 2017 2018 2017 Adjustments to reconcile operating revenues, net to Adjusted Revenue Operating revenues, net $213 $136 $767 $610 Unrealized (gain) loss on commodity contract derivatives, net (a) 8 8 4 7 Amortization of favorable and unfavorable rate revenue contracts, net (b) 10 10 39 40 2017 Incentive revenue recognition recast (n) – 9 – – Regulated Solar and Wind price band adjustment (c) 2 – 12 – Adjustment for asset sales – – – (15) Other items (d) 2 (6) 2 (16) Adjusted Revenue $235 $157 $824 $626 Direct operating costs (e) (66) (47) (235) (188) Settled FX gain (loss) 1 – 1 – Adjusted EBITDA $170 $110 $590 $438 Non-operating general and administrative expenses (f) (11) (29) (49) (97) Stock-based compensation expense – (10) – (17) Acquisition and related costs – – (15) – Depreciation, accretion and amortization expense (g) (112) (71) (380) (287) Impairment charges – (1) (15) (1) Loss on extinguishment of debt 1 (81) 1 (81) Gain on sale of U.K. renewable energy facilities – – – 37 Interest expense, net (72) (55) (249) (262) Income tax benefit 22 17 12 20 Adjustment for asset sales – – – 10 Regulated Solar and Wind price band adjustment (c) (2) – (12) – Management Fee (o) (4) (3) (15) (3) Other non-cash or non-operating items (h) (22) (19) (21) 7 Net loss ($30) ($142) ($153) ($236) (in millions) Three Months Ended December 31 Twelve Months Ended December 31 Reconciliation of Adjusted EBITDA to CAFD 2018 2017 2018 2017 Adjusted EBITDA $170 $110 $590 $438 Fixed management fee (o) (3) (3) (10) (3) Variable management fee (o) (2) (1) (5) (1) Adjusted interest expense (i) (72) (51) (256) (234) Levelized principal payments (j) (60) (24) (173) (99) Cash distributions to non-controlling interests (k) (6) (7) (26) (30) Sustaining capital expenditures (l) (2) (1) (8) (2) Other (m) 2 3 14 19 Cash available for distribution (CAFD) (n) $27 $26 $126 $88

a) Represents unrealized (gain) loss on commodity contracts associated with energy derivative contracts that are accounted for at fair value with the changes recorded in operating revenues, net. The amounts added back represent changes in the value of the energy derivative related to future operating periods, and are expected to have little or no net economic impact since the change in value is expected to be largely offset by changes in value of the underlying energy sale in the spot or day-ahead market.

b) Represents net amortization of purchase accounting related to intangibles arising from past business combinations related to favorable and unfavorable rate revenue contracts.

c) Represents Regulated Solar and Wind Price Band Adjustment to Return on Investment Revenue as dictated by market conditions. To the extent that the wholesale market price is greater or less than a price band centered around the market price forecasted by the Spanish regulator during the preceding three years, the difference in revenues assuming average generation accumulates in a tracking account. The Return on Investment is either increased or decreased in order to amortize the balance of the tracking account over the remaining regulatory life of the assets.

d) Primarily represents recognized deferred revenue related to the upfront sale of investment tax credits, insurance compensation for revenue losses, and adjustments for SREC replacements.

e) In the three months ended December 31, 2017, reclassifies $1 million wind sustaining capital expenditure into direct operating costs, which will now be covered under long-term service contracts (“LTSA”) with General Electric (“GE”). In the twelve months ended December 31, 2017, reclassifies $6 million wind sustaining capital expenditure into direct operating costs.

f) Pursuant to the historical management services agreement (the “Management Services Agreement”) with SunEdison, Inc. (“SunEdison”), SunEdison agreed to provide or arrange for other service providers to provide management and administrative services to us in 2017. In the twelve months ended December 31, 2017, we accrued costs incurred for management and administrative services that were provided by SunEdison under the Management Services Agreement that were not reimbursed by TerraForm Power and were treated as an addback in the reconciliation of net loss to Adjusted EBITDA. In addition, non-operating items and other items incurred directly by TerraForm Power that we do not consider indicative of our core business operations are treated as an addback in the reconciliation of net loss to Adjusted EBITDA. These items include, but are not limited to, extraordinary costs and expenses related primarily to restructuring, IT system arrangements, relocation of the headquarters to New York, legal, advisory and contractor fees associated with the bankruptcy of SunEdison and certain of its affiliates (the “SunEdison bankruptcy”) and investment banking, and legal, third party diligence and advisory fees associated with the Brookfield and Saeta transactions, dispositions and financings. The Company’s normal general and administrative expenses in Corporate, paid by Terraform Power, are the amounts shown below and were not added back in the reconciliation of net loss to Adjusted EBITDA ($ in millions):

$ in millions Q4 2018 Q4 2017 YTD 2018 YTD 2017 Operating general and administrative expenses in Corporate $9 $8 $29 $30

g) Includes reductions (increases) within operating revenues due to net amortization of favorable and unfavorable rate revenue contracts as detailed in the reconciliation of Adjusted Revenue.

h) Represents other non-cash items as detailed in the reconciliation of Adjusted Revenue and associated footnote and certain other items that we believe are not representative of our core business or future operating performance, including but not limited to: loss (gain) on foreign exchange (“FX”), unrealized loss on commodity contracts, loss on investments and receivables with affiliate, loss on disposal of renewable energy facilities, and wind sustaining capital expenditure previously reclassified.

i) Represents project-level and other interest expense and interest income attributed to normal operations. The reconciliation from Interest expense, net as shown on the Consolidated Statements of Operations to adjusted interest expense applicable to CAFD is as follows:

$ in millions Q4 2018 Q4 2017 2018 2017 Interest expense, net ($72) ($55) ($249) ($262) Amortization of deferred financing costs and debt discounts 3 4 11 24 Adjustment for asset sales – – – 8 Other, primarily fair value changes in interest rate swaps and purchase accounting adjustments due to acquisition (3) 1 (18) (4) Adjusted interest expense ($72) ($50) ($256) ($234)

j) Represents levelized project-level and other principal debt payments to the extent paid from operating cash.

k) Represents cash distributions paid to non-controlling interests in our renewable energy facilities. The reconciliation from Distributions to non-controlling interests as shown on the Consolidated Statement of Cash Flows to Cash distributions to non-controlling interests, net for the three months ended December 31, 2018 and 2017 is as follows:

$ in millions Q4 2018 Q4 2017 2018 2017 Distributions to non-controlling interests ($8) ($7) ($29) ($30) Buyout of non-controlling interests 2 – 2 – Adjustment for non-operating cash distributions – – 1 – Cash distributions to non-controlling interests, net ($6) ($7) ($26) ($30)

l) Represents long-term average sustaining capex starting in 2018 to maintain reliability and efficiency of the assets.

m) Represents other cash flows as determined by management to be representative of normal operations including, but not limited to, wind plant “pay as you go” contributions received from tax equity partners, interconnection upgrade reimbursements, major maintenance reserve releases or (additions), releases or (postings) of collateral held by counterparties of energy market hedges for certain wind plants, and recognized SREC gains that are covered by loan agreements.

n) CAFD in 2017 was recast as follows to present the levelized principal payments, adjusted interest expense, and incentive revenue recognition recast to provide period to period comparisons that are consistent and more easily understood. The 2017 incentive revenue was recast based on an estimate in the same proportions as the 2018 phasing, which differs from the actual 2017 phasing due to the adoption of the revenue recognition standard. In the twelve months ended December 31, 2017, CAFD remained $88 million as reported previously.

$ in millions Q1 2017 Q2 2017 Q3 2017 Q4 2017 2017 Cash available for distribution (CAFD) before debt service reported $104 $120 $106 $91 $421 Levelized principal payments (25) (25) (25) (24) (99) Adjusted interest expense (60) (61) (63) (50) (234) Estimated incentive revenue recognition recast (1) (9) 1 9 – Cash available for distribution (CAFD), recasted $18 $25 $19 $26 $88

(o) Represents management fee that is not included in Direct operating costs.

View source version on businesswire.com: https://www.businesswire.com/news/home/20190314005946/en/

Contacts

Chad Reed TerraForm Power investors@terraform.com

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