TerraForm Global Q4 Loss Narrows, Revenues Rise - Quick Facts

(RTTNews) - TerraForm Global, Inc. (GLBL), an owner and operator of clean energy power plants, reported Thursday that its fourth-quarter net loss was $60 million, significantly narrower than prior year's loss of $254 million.

Adjusted EBITDA, a key earnings metric, fell 17 percent to $33 million from last year's $40 million. Adjusted EBITDA margin declined to 58.9% from 76.7% a year ago.

Net revenues increased 8 percent to $55 million from $51 million last year. Adjusted revenue was up 8 percent to $56 million.

Further, the company said it has filed its Form 10-K for the annual period ended December 31, 2016 with the Securities and Exchange Commission.

Peter Blackmore, Chairman and Interim CEO of TerraForm Global, said, "TerraForm Global has made significant progress in meeting the closing conditions for the Brookfield transaction, including entry into a settlement agreement with Renova and the approval of our settlement agreement with SunEdison by the bankruptcy court. Our team remains focused on meeting the outstanding closing conditions, which include the settlement of certain remaining litigation, 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."