SunEdison has purchased renewable energy developers in India and Central America in what could be a boost for its imminent Terraform Global yieldco.

Terraform Global filed its S-1 form with the SEC last month. The freshly floated company would be a likely beneficiary of the pipelines of Tuesday’s acquisitions. Seperately, Terraform Global secured a number of private placements including US$335 million from SunEdison and US$67.5 million from investors including GE and Baron funds.

SunEdison will acquire 70% of Globeleq Mesoamerica Energy (GME) which has 243MW of operational wind and 82MW of operational solar assets in Costa Rica, Honduras and Nicaragua and 326MW of wind projects in development across Central America. It has also acquired India’s Continuum Wind Energy, which has 242MW of operational projects and almost 1.2GW in various stages of development.

In a note to investors, Baird Capital linked the flurry of activity to Terraform Global’s imminent IPO.

“The acquisitions provide additional operating projects and expand the pipeline of TerraForm Global,” the note said. “Additionally, [SunEdison] announced private placements of ~US$335 million of membership interests and US$67.5 million of common stock for TerraForm Global, LLC. We believe the acquisitions and financings bring the formation and potential offering of TerraForm Global closer to fruition, and think the acquisitions and financing are positive signals of its development. Additionally, we do not include TerraForm Global in our estimates/valuation, and believe a successful IPO could provide upside to our numbers.”

The sentiment was echoed by RBC Capital Markets, which in its own note to investors, identified that the ramping up of activity had been hinted at during a previous earnings call.

“We believe today’s announcements demonstrate solid execution by the management team. With the project acquisitions announced on 7 May and today, as well as the South Africa project award announcement on 8 June , we believe SunEdison has established a leadership position in the emerging markets renewable energy. We expect SunEdison to continue expansion its presence in emerging markets through both organic project development and acquisitions.”

Additional reporting by Mark Osborne.