M&A Deal Summary

TerraForm Power Acquires Invenergy - 25 MW Operating Utility Scale Solar Power Plants

On May 4, 2015, TerraForm Power acquired renewable energy company Invenergy - 25 MW Operating Utility Scale Solar Power Plants from Invenergy Renewables

Acquisition Highlights
  • This is TerraForm Power’s 6th transaction in the Renewable Energy sector.
  • This is TerraForm Power’s 1st transaction in Canada.
  • This is TerraForm Power’s 1st transaction in Ontario.

M&A Deal Summary
Date 2015-05-04
Target Invenergy - 25 MW Operating Utility Scale Solar Power Plants
Sector Renewable Energy
Buyer(s) TerraForm Power
Sellers(s) Invenergy Renewables
Deal Type Divestiture

Target

Invenergy - 25 MW Operating Utility Scale Solar Power Plants

Ontario, Canada
Invenergy - 25 MW Operating Utility Scale Solar Power Plants projects are the Sandringham Solar Energy Center (13 MW), and the Woodville Solar Energy Center (12 MW), located in the province of Ontario, Canada. Both power plants have been operational since 2013. These solar plants have feed-in-tariff (FiT) contracts with the Aa2-rated Ontario Power Authority (now part of the Independent Electricity System Operator). The contracts have an average remaining life of 18 years.

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Buyer(S) 1

Buyer

TerraForm Power

New York, Maryland, United States
Category Company
Founded 2014
Sector Renewable Energy
Employees177
Revenue 1.1B USD (2020)
DESCRIPTION

TerraForm Power is a renewable energy company that is changing how energy is generated, distributed and owned. TerraForm Power creates value for its investors by owning and operating clean energy power plants. TerraForm Power was founded in 2014 and is based in New York, New York.

DEAL STATS #
Overall 6 of 8
Sector (Renewable Energy) 6 of 8
Type (Divestiture) 4 of 5
State (Ontario) 1 of 1
Country (Canada) 1 of 1
Year (2015) 3 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-03-31 SunEdison - 168 MW of Solar Power Plants

United States

SunEdison - 168 MW of Solar Power Plants includes US distributed generation power plants representing 15 MW and eleven utility-scale, ground mount plants in the UK comprising 153 MW.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-06-04 Integrys Energy Group - 23 MW of Solar Power Plants

United States

Integrys Energy Group - 23 MW of Solar Power Plants are located throughout Arizona , California , Connecticut , Massachusetts , New Jersey and Pennsylvania . The assets were placed into operation between 2008 and 2013, and are contracted under long term power purchase agreements (PPAs) with a variety of commercial and municipal entities having a weighted-average credit rating of Baa2. The contracts have a weighted average remaining life of 15 years.

Buy -

Seller(S) 1

SELLER

Invenergy Renewables

Chicago, Illinois, United States
Category Company
Founded 2001
Sector Renewable Energy
DESCRIPTION

Invenergy Renewables develops, owns, and operates power generation and energy storage facilities in North America and Europe. Company have a proven track record in establishing and maintaining longstanding, profitable relationships with utilities, suppliers, and the communities in which our projects are located. Invenergy Renewables was founded in 2001 and is based in Chicago, Illinois.

DEAL STATS #
Overall 2 of 7
Sector (Renewable Energy) 1 of 6
Type (Divestiture) 1 of 6
State (Ontario) 1 of 1
Country (Canada) 1 of 1
Year (2015) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2009-05-11 Invenergy Thermal Financing

Chicago, Illinois, United States

Invenergy Thermal Financing LLC develop, acquire, own and operate large-scale power generation projects in the United States, Canada and parts of Europe. Invenergy favors clean energy generation technologies, with particular focus on wind and natural-gas fired generation assets.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-10-28 Wake Wind Energy Center

Crosbyton, Texas, United States

Wake Wind Energy Center consists of 150 GE 1.715 MW wind turbines. Construction was completed and the facility reached full commercial operations earlier this month.

Sell -
Mergr

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