SunEdison buying wind developer for up to $2.4 billion

SunEdison is acquiring Boston-based wind developer First Wind Holdings LLC for as much as $2.4 billion. The purchase, which is the company’s first major deal outside of the solar industry, is among SunEdison’s largest since the Maryland Heights-based solar developer kicked off a buying spree that has transformed it into a major operator and developer of solar power.

SunEdison plans to buy First Wind’s development business for $1.1 billion, including the assumption of $361 million of debt, and pay up to $510 million over the next 2½ years as it completes certain First Wind projects.

TerraForm Power, a solar power generation company that SunEdison controls, will buy First Wind’s operating projects for $862 million.

Read more from the St. Louis Post-Dispatch


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