GE has announced that it has entered into a $25 million investment deal to purchase shares of TerraForm Global, LLC. TerraForm Global is a yield co that SunEdison created to own and operate some of its power plants in emerging markets, and last month filed with U.S. regulators for an initial public offering of class A common shares.
There is more to this deal than just the purchase of shares, although even that is significant as GE reported that they are the first wind energy manufacturer to invest in the yield co. GE will also provide life cycle operations and maintenance support for TerraForm’s international wind fleet.
This is a clear case of a win-win scenario for both companies. The agreement is expected to help support new wind pipeline opportunities for TerraForm Global and GE receives dividends and service contracts in return. The two companies have also agreed to continue exploring additional opportunities for growth-oriented collaboration.
“This investment is about driving continued global growth for renewable power,” said Anne McEntee, president & CEO of GE’s renewable energy business. “Together with SunEdison, we will significantly increase wind developments in key growth regions like Latin America, Europe, India and China.”
Tracey is an accountant and entrepreneur with a passion for nature. This passion is what spurred her interest in renewable energy, and the rest is history as they say. Tracey is a principal in Energy Think Group, the publisher of Solar Thermal Magazine and Tek-Think. She is also the principal at Women's Financial Help Desk. She spends her free time in the outdoors with her horses and dogs. She loves to travel.