TerraForm Power, formerly a yieldco of the now-bankrupt SunEdison and now backed by Brookfield Asset Management, has this week launched a takeover bid to acquire controlling interest in leading European renewable energy asset manager Saeta Yield, with an offer approximately worth $1.2 billion.
The once ballyhooed yieldcos of now-bankrupt SunEdison, TerraForm Power and TerraForm Global, published their third-quarter earnings earlier this month to mixed response, with lackluster revenue for the quarter leading to both companies posting sharemarket losses.
The fate of SunEdison’s two yieldcos has finally been settled, as Canadian asset management firm Brookfield Asset Management has agreed to assume a controlling stake and assume sponsorship of TerraForm Power, and acquire TerraForm Global.
Both of SunEdison’s TerraForm yieldcos have announced that they have entered into exclusive talks with Canadian Brookfield Asset Management to discussion a potential acquisition of the yieldcos for as much as $2.46 billion.
Canada’s Brookfield Asset Management is looking to acquire operational assets of Continuum Wind Energy
Brookfield Asset Management is planning a re-entry into the Indian renewable energy market following changes in the regulatory and financial environment. According to media reports, a subsidiary of Brookfield Asset Management is evaluating investment opportunities in Indian renewable energy project developers. Brookfield Renewable Energy Partners is reportedly looking to acquire … [continued]
