Brookfield Asset acquired TerraForm for $1.3bn

TerraForm Global, Inc., an owner and operator of clean energy power plants, announced that it has entered into a definitive merger agreement under which Brookfield Asset Management Inc., a leading global alternative asset manager, will acquire TerraForm Global for approximately $787m in cash and will assume approximately $455m in net debt, representing an enterprise value of approximately $1.3bn. TerraForm Global owns and operates, or has contracts to acquire, a fleet of 31 wind and solar power plants totaling 952 MW of capacity spread across Brazil, India, China, South Africa, Thailand, Malaysia, and Uruguay.