SunEdison's TerraForm may get 266-MW Mt Signal PV park, other solar assets

Jun 18, 2014 - US company SunEdison Inc's (NYSE:SUNE) yieldco unit TerraForm Power Inc may add the 266-MW Mount Signal park in California and other solar assets to its portfolio after its parent completes a large solar purchase.

The capacity is given in direct current (DC).

SunEdison on Monday unveiled a definitive agreement to buy a 50% stake in Silver Ridge Power LLC (SRP), the owner of 336 MW of photovoltaic (PV) projects and plants, among which the Mount Signal facility. The remaining 50% are in the hands of investment firm Riverstone Holdings LLC. The buyer explained that after the deal’s finalisation, the joint venture is expected to contribute the 266-MW solar park to the yieldco subsidiary.

Spanish group Abengoa SA (MCE:ABG) in May finalised the construction of the said power plant.

SunEdison will also buy SRP’s minority stake in the 183-MW Tenaska Imperial Solar Energy Center West. The company intends to transfer the 40% to TerraForm when the project is wrapped up in 2016.

Last week US independent energy company Tenaska, the owner of the majority stake in the Tenaska Imperial Solar Energy Center West, said it had secured USD 450 million (EUR 332m) in financing for the project. Construction works are slated to begin later this year.

Choose your newsletter by Renewables Now. Join for free!