Brookfield increases TerraForm Power stake to 65 pct
Brookfield Renewable Partners has acquired additional shares in TerraForm Power Inc (Nasdaq: TERP), a U.S. owner and operator of a renewable power portfolio including solar and wind assets. The buy, achieved through a US$650 million private placement, increased Brookfield's interest in the company to 65 percent from 51 percent. The proceeds will be used to support TerraForm’s acquisition of Saeta Yield, a Spanish renewable energy company. The deal, announced in February, is valued at US$1.2 billion. Brookfield Renewable, an affiliate of Brookfield Asset Management, bought TerraForm last year for US$$656 million.
12 June 2018•3 mins read
