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SunEdison to develop wind energy projects  

Credit:  Power Engineering | Jan 8, 2015 | www.power-eng.com ~~

SunEdison (NYSE: SUNE) bought new wind turbines from TerraForm Power Inc. (Nasdaq: TERP) to develop up to 1.6-GW of wind energy projects that qualify for the federal production tax credit (PTC).

In November, the companies signed a definitive agreement to acquire First Wind for $2.4 billion. That included more than 1.6 GW of pipeline and backlog projects, of which 1.4 GW were already PTC or ITC qualified, and an additional 6.4 GW of project development opportunities. TerraForm will purchase the projects from SunEdison when they begin commercial operation.

The acquisition of First Wind is expected to close in the first quarter of 2015, subject to customary approvals.

Source:  Power Engineering | Jan 8, 2015 | www.power-eng.com

This article is the work of the source indicated. Any opinions expressed in it are not necessarily those of National Wind Watch.

The copyright of this article resides with the author or publisher indicated. As part of its noncommercial effort to present the environmental, social, scientific, and economic issues of large-scale wind power development to a global audience seeking such information, National Wind Watch endeavors to observe “fair use” as provided for in section 107 of U.S. Copyright Law and similar “fair dealing” provisions of the copyright laws of other nations. Send requests to excerpt, general inquiries, and comments via e-mail.

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