Yieldco TerraForm Power next week expects to close its proposed tender offer to acquire 100% of Saeta Yield, a Spanish renewable power company with 1GW of wind and solar capacity.
TerraForm, a 51% owned affiliate of Canadian asset management giant Brookfield, did not disclose the eventual purchase price for Saeta. Earlier reports priced the takeover bid at €995m ($1.22bn).
TerraForm says that Saeta has historically generated “very stable” cashflows, with an average contract and/or regulatory life of 14 years.
