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Acquisitions and Dispositions (Tables) | 6 Months Ended
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Jun. 30, 2022
Business Combination and Asset Acquisition [Abstract] |
Schedule of Asset Acquisition | The following is a summary of assets and liabilities transferred in connection with the acquisition as of March 25, 2022:
(In millions) |  | Mililani I
Other current and non-current assets |  | $ | 2 |
Property, plant and equipment |  | 118 |
Right-of-use-assets |  | 19 |
Total assets acquired |  | 139 |
Long-term debt (a) |  | 100 |
Long-term lease liabilities |  | 20 |
Other current and non-current liabilities |  | 27 |
Total liabilities assumed |  | 147 |
Net liabilities assumed |  | $ | (8) |
(a) Includes a $16 million construction loan, $27 million sponsor equity bridge loan and $60 million tax equity bridge loan, offset by $3 million in unamortized debt issuance costs. The sponsor equity bridge loan was repaid at acquisition date utilizing $14 million from the cash equity investor, as well as $15 million of the Company’s purchase price, which was contributed back to the Company by CEG, of which $27 million was utilized to pay down the acquired long-term debt and $2 million was utilized to pay associated fees. Also at acquisition date, the tax equity investor contributed $18 million into escrow, which was included in restricted cash on the Company’s consolidated balance sheet. The tax equity investor will contribute an additional $42 million when the project reaches substantial completion, which will be utilized, along with the $18 million in escrow, to repay the $60 million tax equity bridge loan. The project is expected to achieve substantial completion in the second half of 2022.

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