SunEdison raises US$403 million in private placements for TerraForm Global

SunEdison Inc. has completed a US$335 million private placement of membership interests in TerraForm Global, an indirect subsidiary of SunEdison.

TerraForm Global, formed to own and operate contracted clean power generation assets in emerging markets, also entered into a stock purchase agreement for the sale of US$67.5 million of its Class A common stock. This consisted of a private placement conditioned upon the closing of its initial public offering (IPO).

Together, both private placements come to a total of US$402.5 million and were entered into with institutional investors, including the following:

• Baron Funds
• Capricorn Investment Group
• GE
• Glenview Capital Management
• Kingdon Capital Management
• Zimmer Partners

These investments follow the US$175 million of private placements announced on May 7th.Last month, SunEdison announced the filing for a proposed IPO of TerraForm Global.

IPP Journal has recently been heavily reporting on SunEdison endeavors:

• SunEdison to acquire Central America's renewable energy firm - June 18th
• SunEdison to develop 371 MW of solar power through 5 projects in South Africa - June 9th
• SunEdison to develop 7 photovoltaic solar power projects in Long Island - June 4th
• AboitizPower and SunEdison plan 100 MW solar facility in the Philippines - May 22nd