TerraForm Acquiring 23 Megawatts of Solar Plants From Integrys

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    Billa Kumar

    Terraform Power Inc., owns and operates power plants of SunEdison Inc. built, acquired 23 megawatts of solar power from Integrys Energy Group Inc.

    Terraform pays $ 45 million and assuming to have 10 million US dollars debt to approximately two thirds of the 48 projects in six states, the Bethesda, Maryland-based company said Thursday in a statement. The deal closed Wednesday.

    The solar park was operational 2008-2013 and have an average of 15 years still on long-term contracts to sell electricity, according to the statement. Full capacity is 34 megawatts.

    Terraform SunEdison was spun as yieldco in May last year, so have investors who projects and reap dividends as a shareholder pool.

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