SunEdison Inc. (NYSE: SUNE) and TerraForm Power Inc. (Nasdaq: TERP) closed on the acquisition of Atlantic Power’s 521-MW wind power plant portfolio.
TerraForm Power has an exclusive call right over the warehouse facility, TerraForm Private Warehouse, which will hold the acquired operating assets from Atlantic Power for a maximum of seven years. TerraForm expects to add the assets to the portfolio over time beginning with drop downs in the second half of 2016.
The acquired wind power plants are located in Idaho and Oklahoma and are contracted under long-term power purchase agreements. SunEdison will perform operation and maintenance for thee of the five wind power plants in the deal.
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