Subsequent Events

3 Months Ended

Feb. 28, 2017

Subsequent Events [Abstract]

Subsequent Events

Note 15. Subsequent Events

 On March 23, 2017, our general partner’s board of directors declared a cash distribution for our Class A shares of $0.2565 per share for the first quarter of 2017. Our general partner’s board of directors declared a corresponding cash distribution for OpCo’s common and subordinated units, which includes all common and subordinated units held by First Solar and SunPower. The first quarter distribution will be paid on April 14, 2017 to shareholders and unitholders of record as of April 4, 2017.

Pursuant to the First Solar ROFO Agreement, First Solar previously granted to OpCo a right of first offer to purchase certain solar energy generating facilities for a period of five years.  Such solar projects included the 40 MW Cuyama solar generation project in California (“Cuyama”) and the 280 MW California Flats solar generation project in California (“California Flats”).  On April 3, 2017, First Solar offered the Cuyama and California Flats projects to OpCo in accordance with the terms of the First Solar ROFO Agreement.

On April 5, 2017, First Solar notified our general partner’s board of directors of its intention to explore alternatives related to its interests in the Partnership.  Following such announcement, SunPower also notified our general partner’s board of directors that it is exploring alternatives related to its interests in the Partnership, including but not limited to seeking a potential new partner in the Partnership.