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BRIEF-NRG Yield qtrly net loss of $126
February 28, 2017 / 12:15 PM / 7 months ago

BRIEF-NRG Yield qtrly net loss of $126

Feb 28 (Reuters) - NRG Yield Inc:

* NRG Yield Inc - qtrly net loss of $126 million versus $12 million net income

* NRG Yield Inc - in Q4 of 2016, NRG Yield recorded a non-cash impairment loss of $183 million for certain assets acquired from NRG

* NRG Yield Inc - NRG Yield is reconfirming 2017 full year financial guidance

* NRG Yield - FY financial guidance reflects neither impact of aforementioned outage at El Segundo Energy center nor drop down transaction announced Tuesday

* NRG Yield Inc - NRG Yield is targeting dividend per share growth of 15% annually on each of its class A and class C common stock through 2018

* NRG Yield Inc - on February 24, entered into a definitive agreement to acquire Agua Caliente and Utah utility-scale solar projects from NRG

* NRG Yield - deal for cash consideration of $130 million, plus assumed non-recourse project debt of about $464 million, excluding adjustments for working capital

* NRG Yield Inc - elected not to pursue acquisition of Minnesota, community, and Jeffers Wind projects at this time

* NRG Yield - elected not to pursue acquisition of Minnesota, Community, Jeffers Wind Projects, but may continue its evaluation of projects

* NRG Yield - retained right with NRG, pursuant to Rofo agreement, to participate in process to extent NRG elected to pursue third party sale of these assets

* NRG Yield - co, NRG entered into amendment to ROFO agreement to expand NRG ROFO pipeline with addition of 234 net mw of utility-scale solar projects

* NRG Yield - purchase price for drop down deal to be funded entirely with cash on hand

* NRG Yield - drop down deal is expected to increase cafd on an annual basis by approximately $13.3 million Source text: (bit.ly/2ljKNbA) Further company coverage:

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