•  
  •  
  •  

TerraForm Power to buy 100 MW of Spanish CSP

CSP park. Author: Shayan (USA). License: Creative Commons, Attribution 2.0 Generic.

November 19 (Renewables Now) - US renewable power producer TerraForm Power Inc (NASDAQ:TERP) has agreed to acquire two concentrated solar power (CSP) plants in Spain with a combined capacity of about 100 MW.

A wholly-owned unit of TerraForm Power will pay a total equity purchase price of EUR 94.1 million (USD 104m) for two 49.9-MW solar thermal power facilities located near some of the company’s existing CSP assets.

TerraForm Power said in a regulatory filing that each of the plants being acquired has nine hours of storage capacity and both are regulated under the local framework for renewable power, with some 19 years of remaining regulatory life.

The buyer expects to complete the transaction at the start of the first quarter of 2020. It is seen to generate levered US dollar returns on equity that exceed the 9%-11% range targeted by the company.

(EUR 1.0 = USD 1.106)

More stories to explore
Share this story
Tags
 
About the author
Browse all articles from Ivan Shumkov

Ivan is the mergers and acquisitions expert in Renewables Now with a passion for big deals and ambitious capacity plans.

More articles by the author
5 / 5 free articles left this month
Get 5 more for free Sign up for Basic subscription
Get full access Sign up for Premium subscription