AltaGas to sell U.S. assets to Brookfield's TerraForm for $940 mln
Calgary-based energy infrastructure company AltaGas Ltd (TSX: ALA) has agreed to sell its portfolio of U.S. distributed generation assets to TerraForm Power Inc (Nasdaq: TERP), an affiliate of Brookfield Asset Management. AltaGas said the deal, expected to close in Q3 2019, will result in proceeds of about $940 million. The portfolio, held by WGL Energy Systems Inc and WGSW Inc, consists of 322 megawatts of distributed generation assets in 20 states and the District of Columbia. In a separate release, TerraForm, a New York-based owner and operator of solar and wind assets, said the acquisition will make it one of the largest distributed generation businesses in the United States.
22 July 2019•2 mins read
