The emerging markets yieldco of US renewables major SunEdison Inc (NYSE:SUNE) has officially completed its acquisition of two Brazilian wind power complexes totalling 294 MW from Renova Energia (BVMF:RNEW11).
TerraForm Global Inc (NASDAQ:GLBL) said in a press release on Monday it is now the owner of the Salvador and Bahia wind parks. The company noted that the two assets are part of its original initial public offering (IPO) portfolio. It has paid for them with a mix of Class A common stock and cash, using a portion of its IPO proceeds.
In mid-July, Renova Energia said it was selling to TerraForm Global certain renewable power assets with a combined value of BRL 1.6 billion (USD 404m/EUR 359m). These include the above-mentioned parks plus three small hydropower plants (HPP) with a combined capacity of 41.8 MW.
TerraForm Global was set up to own and operate green energy assets in emerging markets. SunEdison previously announced a number of deals in Central America and India for the yieldco’s portfolio.