SunEdison – TerraForm Power to Acquire Invenergy’ Wind Farms in the US

TerraForm PowerA unit of SunEdison Inc. – TerraForm Power has agreed to buy 930 MW (megawatts) of wind farms in the US, and Canada from Invenergy Wind LLC, with a transaction valued at $2 billion. The company is ready to purchase a majority stake in a portfolio of wind farms.

TerraForm that was established a year ago by a spinoff of SunEdison Inc.’s clean-power assets anticipates to acquiring net ownership of 460 MW of wind power plants. An additional 470 MW of wind power plants will be gained by a warehouse facility, which will be sponsored by SunEdison and third-party equity investors, with the assets being dropped down to TerraForm later.

The assets in the deals, anticipated that would shut in the final quarter, incorporate seven contracted wind farms and represent to around one-tenth of Invenergy’s total contracted portfolio. Invenergy will hold a 9.9 per cent stake in the US assets and will provide certain operation and maintenance services for those power plants.

Invenergy Chief Financial Officer Jim Murphy asserted in a press release Monday that market enthusiasm for these wind projects were strong, highlighting the quality of these renewable energy assets, all of which have long-term power deal contracts.

SunEdison and other renewable-energy engineers, for example, NextEra Energy Inc. and, NRG Energy Inc. have spun off groups of power plants, solar farms and wind ranches into new companies, like, TerraForm, which sell power to utilities or different organizations under long-term contracts, and pay regular dividends to shareholders.

Market Update: TerraForm shares climbed 3.5 per cent to $38.86 in recent after-hours trading, while SunEdison raised 3.8 per cent to $30.05. TerraForm additionally raised its 2016 per-share dividend target by 11 per cent to $1.70 from its past direction for $1.53.

Christy Gren
Christy Gren is an Industry Specialist Reporter at Industry Leaders Magazine she enjoys writing about Unicorns, Silicon Valley, Startups, Business Leaders and Innovators. Her articles provide an insight about the Power Players in the field of Technology, Auto, Manufacturing, and F&B.

Recent Posts

Some Microsoft employees stayed at data centers during Pandemic to keep all systems going

Some Microsoft employees stayed at data centers during Pandemic to keep all systems going

The Covid-19 pandemic ravaging the world for more than a year has forced companies and organizations to find viable solutions to keep the business going. Most found a solution in w
2 days ago
Meme stocks frenzy and 3 companies to follow

Meme stocks frenzy and 3 companies to follow

The doom and gloom about the stock market that has been predicted since the pandemic started has abated somewhat with the resilience shown by investors (helped by low-interest rate
2 days ago
US Space Force allows repurposed SpaceX rocket to launch GPS satellite

US Space Force allows repurposed SpaceX rocket to launch GPS satellite

A GPS navigation satellite built by Lockheed Martin is set to ride a reused SpaceX booster on a launch from Cape Canaveral, Florida, Thursday. It will be the first time a military
2 days ago
Disney boss says 40 pc ad revenue went to streaming sites, no plans of ad supported Disney+

Disney boss says 40 pc ad revenue went to streaming sites, no plans of ad supported Disney+

Walt Disney CEO Bob Chapel says the company’s advertising revenue for the upcoming fall television season was strong and went up by “double-digits” compared to 2019.
4 days ago
BlackRock ETFs breach $3 trillion mark in May

BlackRock ETFs breach $3 trillion mark in May

BlackRocks’ exchange-traded fund crossed $3 trillion for the first time in May, in sync with the ETF industry’s race to an all-time high of $9 trillion.
4 days ago
Flagship Pioneering, investor in Moderna raises $3.4 billion funds

Flagship Pioneering, investor in Moderna raises $3.4 billion funds

Flagship Pioneering, the bioplatform company, and the venture capital investor in Moderna, today announced that it had raised additional funding of $2.23 billion, which brings its
5 days ago