December 11, 2015
SunEdison to sell wind power plants in Bingham and Oakfield
SunEdison Inc. plans to sell two Maine wind power plants for $209 million to a partnership of the solar company and investors advised by J.P. Morgan Asset Management.
The Wall Street Journal reported that the Missouri-based solar power developer is selling the 185-megawatt Bingham wind farm and 148-megawatt Oakfield wind farm to Terra Nova Renewable Partners, the strategic equity partnership it formed, to free up cash to improve its stock.
SunEdison could buy back the plants within five years under the terms of the deal, according to the paper.
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