SunEdison, TerraForm pull out of $4 billion deal in Brazil

Photo courtesy of Creative Commons
Photo courtesy of Creative Commons

SunEdison has pulled out of an agreement to purchase a stake in Brazilian renewable energy company Renova Energia S.A.

Maryland Heights-based SunEdison terminated its securities purchase agreement with Light Energia S.A. to acquire its 16 percent stake in Renova for $250 million. In addition, an agreement for SunEdison and TerraForm Global Inc., the emerging markets yieldco for SunEdison, to acquire 12 wind energy projects from Renova was also terminated. That deal was valued at $4 billion.

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