Investor Presentaiton
$ MM
Expected Cash Available for Distribution (1)
(December 31, 2018 Run Rate CAFD)
$1,100-$1,250 ($20-$30)
($75-$85)
$1,000-$1,150 ($240-$320)
($330-$410)
($30-$35)
($5-$15)
$360-$400
Project-Level Corporate IDR Fees Adjusted
Debt
Pre-Tax
Adjusted
EBITDA
Expenses
EBITDA
Service (2) Tax Credits
(3)
(4)
Non-Cash Maintenance Estimated
Income
Capital Pre-Tax
CAFD (5)
1) See Appendix for definition of Adjusted EBITDA and CAFD expectations; Project-Level Adjusted EBITDA
represents Adjusted EBITDA before IDR Fees and Corporate Expenses
2) Debt service includes principal and interest payments on existing and projected third party debt and distributions
net of contributions to/from tax equity investors; excludes distributions to preferred equity investors
3) Pre-tax tax credits include investment tax credits, production tax credits earned by NEP, and production tax
credits allocated to tax equity investors
4) Primarily reflects amortization of CITC
50 5) CAFD excludes proceeds from financings and changes in working capital
NEXTera energy™
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