SunEdison Raises $590 Million to Fund Acquisition of First Wind

(Bloomberg) — SunEdison Inc., the best-performing solar
company last year, raised $590 million to help fund its
acquisition of First Wind Holdings Inc.

SunEdison received a $400 million, two-year loan, secured
with shares of its power-plant holding company TerraForm Power
Inc., the Maryland Heights, Missouri-based company said Friday
in a statement. Another $190 million came from the proceeds of a
secondary offering of about 12.9 million SunEdison Semiconductor

SunEdison and TerraForm agreed to buy closely held First
Wind for $2.4 billion in November, seeking to expand the types
of renewable-energy projects it could develop. The acquisition
is expected to close this quarter.

SunEdison shares climbed almost 50 percent in 2014, the
most among peers in the 21-member Bloomberg Intelligence Global
Large Solar Energy Index

To contact the reporter on this story:
Justin Doom in New York at

To contact the editors responsible for this story:
Reed Landberg at
Robin Saponar

About BloombergNEF

BloombergNEF (BNEF), Bloomberg’s primary research service, covers clean energy, advanced transport, digital industry, innovative materials and commodities. We help corporate strategy, finance and policy professionals navigate change and generate opportunities.

Available online, on mobile and on the Terminal, BNEF is powered by Bloomberg’s global network of 19,000 employees in 176 locations, reporting 5,000 news stories a day.
Sign up for our free weekly newsletter →

Want to learn how we help our clients put it all together? Contact us