SunEdison and TerraForm Power have announced that SunEdison had purchased new turbines that will enable SunEdison to develop up to 1.6GW of incremental wind energy projects which qualify for the US federal production tax credit (PTC).
TerraForm will purchase the projects from SunEdison once they achieve commercial operation. On November 17, 2014, SunEdison and TerraForm announced that they had signed a definitive agreement to acquire First Wind for US$ 2.4 billion. The acquisition of First Wind is expected to close during the first quarter of 2015, subject to usual and customary conditions and regulatory approvals.