Terraform Power Inc has signed a deal to acquire net ownership of 930 MW of wind power plants from Invenergy Wind LLC, the largest independent wind power plant owner in the USA.
Terraform, a subsidiary of SunEdison, will acquire net ownership of 460 MW of the wind power plants from Invenergy, with the remaining 470 MW to be acquired by a new warehouse facility.
The transaction is worth $2 billion and comprises seven wind farms located in the USA and Canada. Terraform said the acquisition would "add a sizeable, high quality contracted power plant portfolio" to its business.
Invenergy will retain a 9.9 per cent stake in the US assets and will provide certain operation and maintenance services for these power plants.
The warehouse facility acquiring 470 MW of the capacity will be sponsored by SunEdison and third party equity investors. The assets may be accrued to TerraForm in the future.
