TerraForm Globa, a globally diversified owner and operator of clean energy projects, has closed on the acquisition from Renova Energia of two operating wind energy projects that are part of the original TerraForm Global IPO portfolio.
The Salvador and Bahia wind energy projects are located in Brazil and generate 294 MWac of capacity in aggregate. The projects were purchased with a combination of TerraForm Global Class A common stock and cash that was allocated from the TerraForm Global IPO proceeds.
"TerraForm Global is executing on our commitment to deliver high-quality, contracted cash flows to our investors," said Carlos Domenech, TerraForm Global's chief executive officer. "We are excited to grow our relationship with Renova and launch our platform in Brazil, one of TerraForm Global's key markets."