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
shares.

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
jdoom1@bloomberg.net

To contact the editors responsible for this story:
Reed Landberg at
landberg@bloomberg.net
Robin Saponar

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