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Acquisitions and Dispositions (Tables)
12 Months Ended
Dec. 31, 2021
Business Combination and Asset Acquisition [Abstract]  
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed
The following is a summary of assets and liabilities transferred in connection with the acquisition as of December 29, 2021:
(In millions)Black Rock
Current assets (a)
$36 
Property, plant and equipment178 
Right-of-use-assets
Other non-current assets
Total assets acquired223 
Long-term debt (b)
186 
Long-term lease liabilities
Other current and non-current liabilities11 
Total liabilities assumed (c)
204 
Net assets acquired$19 
(a) Includes $35 million reserved for project completion costs included in restricted cash on the Company's balance sheet at acquisition date, which is included within the $133 million contributed by CEG described above.
(b) Repaid at acquisition date utilizing $56 million contributed by the tax equity investor, $36 million from the cash equity investor and $61 million contributed by CEG, all recorded as contributions in noncontrolling interest, as well as $37 million of the Company's acquisition price. Of the $190 million contributed, $186 million was utilized to pay down the acquired debt and $4 million was utilized to pay associated fees. The $61 million contributed by CEG and the Company’s initial acquisition price of $37 million are also included within the $133 million contributed by CEG described above.
(c) Total liabilities assumed excludes amounts due to CEG as of December 31, 2021 for the remaining turbines that became operational in January 2022. The liabilities totaled $83 million, of which $59 million was received from the tax equity and cash equity investors and was held in escrow accounts as of December 31, 2021.
The following is a summary of assets and liabilities transferred in connection with the acquisition as of December 17, 2021:
(In millions)Mesquite Sky
Current assets (a)
$46 
Property, plant and equipment377 
Right-of use assets45 
Other non-current assets
Total assets acquired475 
Long-term debt (b)
355 
Long-term lease liabilities45 
Derivative liabilities43 
Other current and non-current liabilities39 
Total liabilities assumed (c)
482 
Net liabilities assumed$(7)
(a) Includes $44 million reserved for project completion costs included in restricted cash on the Company's balance sheet at acquisition date, which is included within the $52 million contributed by CEG described above.
(b) Repaid at acquisition date utilizing $241 million contributed by the tax equity investor and $107 million contributed by the cash equity investor, both recorded as contributions in noncontrolling interest, as well as the Company's $61 million acquisition price. Of the $409 million contributed, $355 million was utilized to pay down the acquired debt and $1 million was utilized to pay associated fees. The remaining $53 million was distributed to CEG for the acquisition. The net of the Company’s $61 million acquisition price and the distribution to CEG of $53 million are included within the $52 million contributed by CEG described above.
(c) Total liabilities assumed excludes amounts due to CEG as of December 31, 2021 of $6 million, of which $5 million was received from the tax equity and cash equity investors and was held in escrow accounts as of December 31, 2021.
The following is a summary of assets and liabilities transferred in connection with the acquisition as of December 1, 2021:
(In millions)Utah Solar Portfolio
Current assets$20 
Property, plant and equipment258 
Intangible assets for power purchase agreement302 
Other intangible assets
Right-of use assets163 
Total assets acquired747 
Long-term lease liabilities163 
Other current and non-current liabilities24 
Total liabilities assumed187 
Equity method investment removed(230)
Net assets acquired$330 
The acquisition was determined to be an asset acquisition and the purchase price was allocated to the fair value of the assets acquired and liabilities assumed on the acquisition date as follows:
(In millions)Mt. Storm
Current assets $
Property, plant and equipment108 
Other non-current assets
Total assets acquired113 
Derivative instruments
Other current and non-current liabilities
Total liabilities assumed13 
Net assets acquired$100 
The following is a summary of assets and liabilities obtained in connection with the acquisition as of February 3, 2021:
(In millions)Agua Caliente
Restricted cash$91 
Property, plant and equipment154 
Intangible asset for power purchase agreement1,022 
Other current assets
Total assets acquired1,276 
Long-term debt716 
Other current and non-current liabilities
Total liabilities assumed721 
Noncontrolling interest273 
Equity method investment removed(80)
Net assets acquired less noncontrolling interest$202 
The following is a summary of assets and liabilities transferred in connection with the acquisition as of January 12, 2021:
(In millions)Rattlesnake
Current assets $
Property, plant and equipment200 
Right-of-use assets12 
Total assets acquired220 
Long-term debt (a)
176 
Long-term lease liabilities12 
Other current and non-current liabilities
18 
Total liabilities assumed206 
Net assets acquired$14 
(a) Repaid at acquisition date utilizing $107 million contributed by tax equity investor and $103 million contributed by CEG, both recorded as contributions in noncontrolling interest. Of the $210 million contributed, $176 million was utilized to pay down the acquired debt, $29 million was utilized to fund project reserve accounts and $5 million was utilized to pay associated fees.
The following is a summary of assets and liabilities transferred in connection with the acquisition as of November 20, 2020:
(In millions)Langford
Current assets $
Property, plant and equipment138 
Other non-current assets15 
Total assets acquired157 
Other current and non-current liabilities
17 
Total liabilities assumed17 
Noncontrolling interests119 
Net assets acquired less noncontrolling interests$21 
The following is a summary of assets and liabilities transferred in connection with the acquisition as of December 21, 2020:
(In millions)Rosamond Central
Current assets $49 
Property, plant and equipment246 
Other non-current assets
Total assets acquired296 
Long-term debt205 
Other current and non-current liabilities
11 
Total liabilities assumed216 
Noncontrolling interests52 
Net assets acquired less noncontrolling interests$28 
The following table shows the balances that were consolidated effective on December 21, 2020:
(In millions)Mesquite Star
Current assets$22 
Property, plant and equipment443 
Other non-current assets31 
Total assets acquired496 
Other current and non-current liabilities87 
Total liabilities assumed87 
Noncontrolling interests and redeemable noncontrolling interests346 
Net assets acquired less noncontrolling interests$63 
The following table shows the balances that were consolidated:
November 2, 2020May 29, 2020
(In millions)
DGPV Holdco 1 and 2 (a)
DGPV Holdco 3 (b)
Current assets$29 $32 
Property, plant and equipment, net324 331 
Intangible assets, net19 
Other non-current assets52 37 
Total assets acquired424 401 
Long-term debt160 206 
Other current and non-current liabilities54 84 
Total liabilities assumed214 290 
Noncontrolling interests and redeemable noncontrolling interests
Net assets acquired less noncontrolling interests$205 $105 
(a) Includes DGPV 1, LLC, DGPV 2, LLC, CA Fund, LLC, DGPV 4 Borrower LLC and Puma Class B LLC
(b) Includes Renew Solar CS4 Fund LLC and Chestnut Fund LLC