Brazil's Renova agrees to scrap asset deal with TerraForm Global

Renova says it will receive a $10m break-up fee from TerraForm Global for agreeing to cancel the deal.

Renova also says it has notified SunEdison and TerraForm Global that they must buy back 7 million shares of TerraForm Global owned by Renova for $15 per share, according to a put option included in their agreement.

TerraForm Global shares currently trade at $2.23.

Renova’s