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SunEdison signs supply deals for 1.6GW of wind energy projects

CTBR Staff Writer Published 09 January 2015

SunEdison has signed turbine supply agreements that will allow the company to build up to 1.6GW of incremental wind projects under the US federal production tax credit (PTC).

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TerraForm will acquire the projects once they start commercial operations.

The turbine order follows SunEdison's recent announcement that it will acquire the US-based renewable energy firm First Wind in a $2.4bn deal, which is expected to be completed in the first quarter of 2015.

SunEdison will buy more than 1.6GW of pipeline and backlog projects, of which 1.4 GW were already PTC and or ITC qualified projects.

The transaction includes an additional 6.4GW of project development opportunities.

SunEdison president and chief executive officer Ahmad Chatila said: "The purchase of these PTC qualified wind turbines will further enhance our renewable energy development engine and increase its already impressive growth trajectory.

"The acquisition of First Wind accelerates our ability to capitalize on the attractive growth opportunities in the global wind power markets."

TerraForm Power president and chief executive officer Carlos Domenech said: "The addition of 1.6 GW of wind energy projects will cement TerraForm's position as one of the leading renewable energy asset owners in the world."

TerraForm Power has recently acquired 21 distributed generation solar power plants in the US comprising 26MW from SunEdison for $47m.

Image: SunEdison has signed turbine supply agreements that will allow it to build up to 1.6GW of incremental wind projects. Photo: Courtesy of pakorn/FreeDigitalPhotos.net.