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Bloomberg
Brookfield Renewable Partners LP, looking to bolster its status as one of the world’s largest clean-energy providers, is bidding to buy the shares of TerraForm Power Inc it doesn’t already own in a deal valuing the company at $3.9 billion.
The proposal values TerraForm Power at $17.31 a share, representing an 11% premium to the closing share price on January 10.
Yieldcos, which operate wind and solar farms and promise growing dividends, were darlings on Wall Street five years ago but fell out of favour as clean-energy giant SunEdison Inc stumbled towards bankruptcy. Brookfield bought its controlling stake in TerraForm from SunEdison in 2017.
Brookfield Renewable’s portfolio consists of more than 18,000 megawatts of capacity and 5,253 generating facilities in North America, South America, Europe and Asia.