Very poor news reporting. The NRG net payment to SUNE is $144MM not $188MM. The difference goes to creditors of the projects directly as stipulated in the PSA. The amount of Zero Percent of Completion of projects in the portfolio to be sold to NRG is 1,106 MW out of the 2,100 MW (see 4-2-2016 Pipeline Report for projects 1 thru 16). The deal in Texas has already been rejected by TERP under their buy/sell agreement with SUNE because it is unfinished and way behind construction schedule. As far as NRG enhancing their portfolio and yieldco, it may happen if they pay a rock bottom price. TERP is also dumping low yield projects it was forced to buy by SUNE including its entire UK portfolio plus other US assets. SUNE has put virtually no money into projects under construction since filing CH. 11. If the deal with NRG is the cream in SUNE's portfolio it doesn't bode well for the rest of their portfolio.
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