Also from Page 51 of the 10Q for people who may not be able to see it otherwise on their own.
"... We had contract backlog totaling approximately $1.4 billion as of July 31, 2019. We also had project awards with respect to 32.4 MW of LIPA projects totaling an additional $636.3 million, resulting in total backlog and awards of approximately $2.1 billion as of July 31, 2019.
Backlog by revenue category is as follows: • Services and license backlog totaled $256.9 million as of July 31, 2019 compared to $317.8 million as of July 31, 2018. Services backlog includes future contracted revenue from routine maintenance and scheduled module exchanges for power plants under service agreements. • Generation backlog totaled $1.2 billion as of July 31, 2019 compared to $430.0 million as of July 31, 2018. Generation backlog represents future contracted energy sales under contracted PPAs between us and the end-user of the power. • Product sales backlog totaled $1.0 thousand as of July 31, 2019 compared to $9.5 thousand as of July 31, 2018. • Advanced Technologies contract backlog totaled $27.2 million as of July 31, 2019 compared to $35.8 million as of July 31, 2018.
Backlog represents definitive agreements executed by us and our customers. Projects for which we have a PPA are included in generation backlog, which represents future revenue under long-term PPAs. Projects sold to customers (and not retained by us) are included in product sales and service backlog and the related generation backlog is removed upon the sale. Project awards referenced by us are notifications that we have been selected, typically through a competitive bidding process, to enter into definitive agreements. These awards have been publicly disclosed but are still subject to negotiation and execution with the off-taker and are not yet definitive. We are working to enter into definitive agreements with respect to these project awards and, upon execution of a definitive agreement with respect to a project award, that project award will become backlog. Project awards that were not included in backlog as of July 31, 2019 include the 32.4 MW LIPA project awards (which are expected to become generation backlog). These awards in total represent approximately $636.3 million of future revenue potential over the life of the projects, assuming we retain ownership of the projects. If we were to sell such projects, the backlog amount would be decreased (in an amount determined by the negotiated sales price at the time of sale) and would consist of product sales to be recognized over a one to two-year period and service revenue to be recognized over a twenty-year term...."
News 
Market Data 
Discover 
