TerraForm Power, an affiliate of Brookfield Asset Management, closed on its acquisition of Sun Tribe Development, a mid-sized utility-scale solar and storage developer based in Virginia.
With the transaction, TerraForm Power is initiating a new growth strategy, more than doubling its development pipeline to over 6,000 MW of solar and battery energy storage and strengthening its capabilities.
“I’m excited by today’s news welcoming Sun Tribe Development into the fold to deliver on TerraForm Power’s new high-growth strategy in the U.S. market. Together, we’ll rapidly expand TerraForm Power’s footprint across the U.S. to meet this moment and deliver much-needed, domestically sourced power to support digitalization and reindustrialization in the country,” said Mark Noyes, CEO and president of TerraForm Power.
News item from TerraForm Power
