SunEdison yield co nets extra cash from IPO

Facebook
Twitter
LinkedIn
Reddit
Email

The initial public offering (IPO) of SunEdison’s TerraForm Power yield co has exceeded expectations, according to the company.

TerraForm Power received US$535.5 million from the initial public offering (IPO) as well as US$65 million from the sale of stock in private placements.

This article requires Premium SubscriptionBasic (FREE) Subscription

Unlock unlimited access for 12 whole months of distinctive global analysis

Photovoltaics International is now included.

  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Unlimited digital access to the PV Tech Power journal catalogue
  • Unlimited digital access to the Photovoltaics International journal catalogue
  • Access to more than 1,000 technical papers
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

The company also closed a US$140 million revolving credit facility and a US$300 million term loan facility.

TerraForm has used some of the net proceeds of US$436.2 million plus additional finance from a new loan facility to repay outstanding debts and related fees from its bridging loan as well as US$47 million of project-related debt.

A further US$86 million will be used for further acquisitions and payments related to projects included in TerraForm’s original portfolio from SunEdison.

A total US$194.4 million remaining with TerraForm will be used for general corporate purposes, which “could include” project acquisitions from SunEdison as well as unrelated third-parties.

The yield co model is becoming the increasingly attractive to investors and renewable developer’s alike. NextEra raised US$400 million from its own yield co’s IPO earlier this month.

Read Next

June 27, 2025
Indian solar manufacturer Premier Energies has commissioned its 1.2GW TOPCon solar cell manufacturing line at Fab City, Hyderabad, Telangana.
June 27, 2025
The UK government has decided it will not sign a Contract for Difference (CfD) with Xlinks for the 11.5GW Morroco-UK interconnector project.
June 27, 2025
Renewables investment platform Nexwell Power has signed a round of power purchase agreements (PPAs) with “one of the largest” US tech companies for solar PV capacity to be built in Spain.
June 27, 2025
Statkraft has signed PPAs with Better Energy to purchase energy from two solar power plants in Poland with a total capacity of 64GWh.
June 27, 2025
Solar developer Lightsource bp has signed a power purchase agreement (PPA) with a subsidiary of Taiwanese energy firm HD Renewable Energy (HDRE).
June 27, 2025
PV Tech spoke to Monika Paplaczyk about recent changes in the UK energy mix and opportunities for investors in the solar sector.

Subscribe to Newsletter

Upcoming Events

Upcoming Webinars
June 30, 2025
10am PST / 6pm BST
Solar Media Events
July 1, 2025
London, UK
Solar Media Events
July 1, 2025
London, UK
Media Partners, Solar Media Events
July 2, 2025
Bangkok, Thailand
Media Partners, Solar Media Events
September 2, 2025
Mexico City, Mexico