SunEdison’s yieldco adds 168 MW to solar portfolio in Q1 2015
March 31 – US renewable energy plants owner-operator TerraForm Power Inc (NASDAQ:TERP) has acquired 168 MW of solar power capacity from its parent SunEdison Inc (NYSE:SUNE) during the first quarter of 2015.
TerraForm, which is SunEdison’s yieldco vehicle, has bought 15 MW of distributed generation (DG) photovoltaic (PV) systems in the US along with 153 MW of utility-scale, ground-mounted solar parks in the UK that were part of its 3.4-GW call right list. All of the assets are operational.
The yieldco has paid USD 110 million (EUR 102m) in cash for these solar plants, using existing balance sheet liquidity.
The acquired facilities are expected to contribute a total of USD 17 million in cash available for distribution (CAFD) this year and to generate annual unlevered CAFD of USD 24 million, TerraForm added.
The company reaffirmed its forecast for 2015 CAFD of USD 214 million and dividends of USD 1.30 a share.
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