Exhibit 99.1
terraformlogospowera31.jpg

TerraForm Power Reports 1Q 2017 Financial Results and Files Form 10-Q

BETHESDA, Md., August 29, 2017 (GLOBENEWSWIRE) -- TerraForm Power, Inc. (Nasdaq: TERP) (“TerraForm Power”), an owner and operator of clean energy power plants, today reported first quarter 2017 financial results and filed its Form 10-Q for the quarter ended March 31, 2017 with the Securities and Exchange Commission. The Form 10-Q is available on the Investors section of TerraForm Power’s website at www.terraformpower.com.

“Our team remains focused on the operations of our fleet and on meeting the outstanding closing conditions for the Brookfield transaction, which include the receipt of certain regulatory approvals and shareholder approval of the transaction. We continue to expect the transaction to close in the second half of 2017,” said Peter Blackmore, Chairman and Interim CEO of TerraForm Power.

1Q 2017 Results: Key Metrics

 
1Q 2017
1Q 2016
% change YoY
Revenue, net ($M)
$151
$154
-2%
Net Loss ($M)
($56)
($34)
n/a
 
 
 
 
MW (net) in operation at end of period
2,981
2,977
 0%
Capacity Factor
30.6%
30.9%
(30) bps
MWh (000s)
2,032
2,072
-2%
Adj. Revenue / MWh
$76
$78
-2%
Adj. Revenue ($M)
$155
$162
-4%
Adj. EBITDA ($M)
$109
$120
-10%
Adj. EBITDA margin
69.9%
74.5%
(460) bps
CAFD ($M)
$34
$61
-45%
 
 
 
 
Unrestricted Cash ($M) at end of period
$677
$603
12%


Investor Conference Call

The Company will host an investor conference call and webcast to discuss its 1Q 2017 results.

Date:            Tuesday, September 5, 2017
Time:             4:30 pm ET
US Toll-Free #:         (844) 464-3938
International #:         (765) 507-2638
Code:             76101709
Webcast:         http://edge.media-server.com/m/p/pd7dezam
The webcast will also be available on TerraForm Power's investor relations website: www.terraformpower.com.
A replay of the webcast will be available for those unable to attend the live webcast.
 
About TerraForm Power

TerraForm Power is a renewable energy company that is changing how energy is generated, distributed and owned. TerraForm Power creates value for its investors by owning and operating clean energy power plants. For more information about TerraForm Power, please visit: www.terraformpower.com.

Safe Harbor Disclosure



1


The following information was filed by Terraform Power, Inc. (TERP) on Tuesday, August 29, 2017 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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