Brookfield-sponsored TerraForm Power acquired Saeta Yield for $1.2bn.

TerraForm Power, an owner and operator of 2.6k megawatts of renewable power assets, launched a voluntary tender offer to acquire 100% of the outstanding shares of Saeta Yield, a leading, publicly-listed European owner and operator of wind and solar assets, located primarily in Spain. TerraForm Power’s offer is €12.2 in cash per share of Saeta. TerraForm Power successfully acquired all of the remaining Saeta shares in the tender offer, the total purchase price was c.$1.2bn. “With the Saeta acquisition, we are excited to significantly grow our portfolio of high-quality wind and solar assets and expand our geographic footprint with a scale position in Western Europe. With Brookfield as our sponsor, we believe this transaction demonstrates our ability to originate acquisitions of high-quality assets on a value basis that are highly accretive to our shareholders.” John Stinebaugh, Chief Executive Officer of TerraForm Power.