TerraForm Global closes buy of 26-MW solar park in Uruguay

US renewables yieldco TerraForm Global (NASDAQ:GLBL) said on Friday it has finalised its acquisition of the 26.4-MW Alto Cielo solar power facility in Uruguay for USD 35.4 million (EUR 31m).

The company, controlled by debt-laden renewables developer SunEdison Inc (NYSE:SUNE), bought the solar park from Spanish firm Solarpack Corporacion Tecnologica SL.

The Alto Cielo plant began operations in March 2016, a few months later than initially expected. The facility is located in the Tomas Gomensoro locality, Artigas department. It is contracted under a US dollar-denominated, government-guaranteed 28-year power purchase agreement (PPA) with Uruguay’s state-owned National Administration of Power Plants and Electrical Transmissions (UTE).

Also on Friday, TerraForm Global said it anticipates to close its previously announced acquisition of three South African plants from BTSA Netherlands Cooperatie UA (BioTherm) in the third quarter of 2016, subject to obtaining clearance from the South African Department of Energy and project lenders. The power facilities in this transaction include the Aries and Konkoonsies solar farms and the Klipheuwel wind park, totalling 32.6 MW.

(USD 1.0 = EUR 0.877)

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