TerraForm Power to acquire unlevered distributed generation platform from WGSW and WGL Energy Services, AltaGas subsidiaries for $720m.

TerraForm Power, renewable power owner, has agreed to acquire unlevered distributed generation platform from WGSW and WGL Energy Services, AltaGas subsidiaries, energy infrastructure companies, for $720m. “Following the close of this transaction, TerraForm Power is expected to own one of the largest portfolios of distributed generation in the United States. The acquisition will increase TerraForm Power’s average contract duration to 14 years and enhance its resource diversity. Furthermore, this demonstrates our strategy of recycling capital from stabilized assets with limited opportunities for further value creation into newly acquired assets that meet our return targets and have commercial and operational upside that we can extract through our integrated operating platform.” John Stinebaugh, TerraForm Power CEO.