Nurtured by Fir Tree Partners since 2014, the fledgling utility-scale developer and IPP nets the hedge fund sponsor a windfall as it is sold to a Canadian-American joint venture.
The company will be exhibiting the forecasting tool, which will provide on-demand forecasts of select power markets with hourly resolution, later this month in Anaheim.
The Canadian asset management firm has bought into a D.E. Shaw portfolio of assets in eight U.S. states.
The Chinese solar company shipped 5,232 MW in 2016 but saw its revenue fall from $3.5 billion in 2015 to $2.8 billion last year as the global price squeeze on solar modules hit the firm’s bottom line.
The acquisition allows the Maryland commercial firm to expand its service offerings and explore the possibilities of becoming an independent power producer.
The Canadian asset manager’s latest offer is in line with TerraForm’s early January deadline for bids, and includes both buy-out and sponsorship options.
The German inverter manufacturer has reached the impressive landmark of installing 10 GW of solar inverters across North America, after an incredible installed capacity increase of 33% in less than a year, all the while Chinese competitors challenge its market share supremacy.
The renewable energy investor says that the taking TerraForm off SunEdison’s hands could allow the company to recover.
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