SunEdison said the sum is made up of a $400m credit facility from a number of financial institutions, secured against shares in TerraForm Power – the ‘yieldco’ that holds its operating plant assets.
Missouri-based SunEdison also raised $190m through a share offering by its SunEdison Semiconductor operation.
Chief financial officer Brian Wuebbels said the proceeds would fund the cash portion of the upfront payment due on First Wind, which SunEdison announced at the end of 2014 it would acquire in a deal worth a total of $2.4bn.
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