The US government has cleared PV developer SunEdison to acquire US residential PV provider Vivint Solar, according to an SEC filing from Vivint.
The Federal Trade Commission and the Department of Justice cleared the merger having completed a review of the proposed transaction.
In July, SunEdison and its yieldco, TerraForm Power, announced that they would acquire Vivint Solar for around US$2.2 billion.
Under the proposed deal, which will be payable in a combination of cash, SunEdison common stock shares and convertible notes, a TerraForm Power subsidiary will acquire Vivint Solar's US$922 million rooftop solar portfolio, which includes 523MW of capacity expected to be complete by the end of this year.
Vivint Solar has created an integration team including executives and other representatives from the two firms to plan on how to bring the two companies together, according to the SEC filing.