TerraForm Buys 168 Megawatts From SunEdison in First Quarter

(Bloomberg) — TerraForm Power Inc., the company that owns

and operates power plants mainly built by parent SunEdison Inc.,

purchased 168 megawatts of capacity in the first quarter for

about $110 million.

SunEdison sold distributed-generation plants in the U.S.

totaling 15 megawatts and 11 utility-scale solar farms in the

U.K. with 153 megawatts, Beltsville, Maryland-based TerraForm

said Tuesday in a statement.

The solar projects, all of which have been installed, are

expected to generate about $17 million for investors this year,

according to the statement. TerraForm reiterated its 2015

forecast of $214 million in cash for distribution and a dividend

of $1.30 a share.

TerraForm raised about $577 million in its July initial

public offering as one of a growing number of so-called

yieldcos, which allow developers to generate lower-cost capital

to fund additional projects.

TerraForm said in a separate statement Tuesday that it’s

connected to the grid four solar farms in North Carolina with a

combined output of 26 megawatts. Duke Energy Corp. is buying the

power under a 15-year contract. Terms weren’t disclosed.

To contact the reporter on this story:

Justin Doom in New York at


To contact the editors responsible for this story:

Reed Landberg at


Will Wade, Robin Saponar

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