GE’s renewable energy business announced a $25-million investment in TerraForm Global. TerraForm is a dividend growth-oriented company, or yieldco, formed by SunEdison to own and operate contracted renewable power generation assets in attractive, high-growth emerging markets.
“This investment is about driving continued global growth for renewable power,” said Anne McEntee, president & CEO of GE’s renewable energy business. “Together with SunEdison, we will significantly increase wind developments in key growth regions like Latin America, Europe, India and China.”
The agreement is expected to help support new wind pipeline opportunities for TerraForm Global, and GE also will provide life cycle operations and maintenance support for TerraForm’s international wind fleet. The two companies also have agreed to continue exploring additional opportunities for growth-oriented collaboration.