TerraForm Power Inc. has completed its acquisition of a portfolio of U.S. distributed solar generation assets from AltaGas Ltd. for about C$940 million, or US$720 million, according to an Oct. 2 filing.
Through its TerraForm Arcadia Holdings subsidiary, TerraForm purchased 322 MW of solar distributed generation projects in 20 states and the District of Columbia from AltaGas subsidiaries WGL Energy Systems and WGSW Inc.
As announced in July, the portfolio includes 291 MW of commercial and industrial solar, 10 MW of fuel cells and 21 MW of residential solar assets.
Delayed projects representing less than 50 MW of the portfolio will only be transferred to TerraForm Power once construction has been completed or once required third-party consents have been received.
TerraForm Power is an affiliate of Brookfield Asset Management Inc.
