SunEdison and TerraForm Power have announced the closing of the acquisition of Atlantic Power's 521MW portfolio of operating wind power plants.
Concurrent with the closing, SunEdison has formed its second warehouse facility, named TerraForm Private Warehouse, to hold the acquired operating assets from Atlantic Power for a maximum period of 7 years. TerraForm Power has an exclusive call right over the warehoused operating assets, and expects to add them to the company's portfolio over time beginning with drop downs in the second half of 2016. The acquired wind power plants are located in Idaho and Oklahoma, and are contracted under long term power purchase agreements (PPAs). SunEdison Services will perform operation and maintenance for three of the five wind power plants in this transaction.