Company to reinvest transaction proceeds into its industry-leading development pipelineInvenergy retaining minority ownership, O&M provider role for U.S. projects
CHICAGO (Dec. 16, 2015) – Invenergy Wind LLC (“Invenergy”), the largest privately-heldindependent wind power generation company in the United States, today announced the sale of 832(net) megawatts (MW) of wind power plants to TerraForm Power, Inc., an owner and operator ofclean energy power plants. Today’s announcement represents the closing of a purchase and saleagreement originally executed on June 30, 2015. A final closing for an additional 98 MW (net) ofprojects is scheduled to be completed in early 2016. Proceeds from the transaction will be reinvestedin Invenergy’s industry-leading development pipeline. The total enterprise value of the transaction ismore than $2 billion.
“This transaction highlights our tremendous recent momentum and growth as a developer, ownerand operator of power generation and storage solutions,” said Michael Polsky, Invenergy founder,president and chief executive officer. “This milestone further positions Invenergy for continuedleadership in providing scalable, clean-energy solutions for years to come.”
The closing encompasses four power plants, representing 754 MW (net) in the United States andone 78 MW project in Canada. As part of the agreement, Invenergy is retaining an approximately 10percent equity interest and will continue as the operations and maintenance provider for the U.S.-based projects: California Ridge, Bishop Hill, Prairie Breeze and Rattlesnake. Invenergy and otherowners sold 100 percent interests in the Canadian project, Raleigh.
“We are pleased to complete this transaction with TerraForm Power,” said Jim Murphy, Invenergy’sChief Financial Officer and Operating Business Group President. “We look forward to our continuingownership and operating role with these high-quality projects.”
For Invenergy, the close of this transaction closely follows the announcement of three powerpurchase agreements totaling 450 MW with commercial and industrial customers Google, OwensCorning and Equinix Data Centers and caps off a two-year period where according to BloombergNew Energy Finance, Invenergy led all companies in new wind project development and financing.
About Invenergy
Invenergy drives innovation in energy. Invenergy provides power generation and storage solutionsat scale around the world to create a cleaner energy future. Invenergy and its affiliated companiesdevelop, own, and operate large-scale renewable and other clean energy generation and storagefacilities in the Americas, and Europe. Invenergy's home office is located in Chicago and it hasregional development offices in the United States, Canada, Mexico, Japan and Europe.
Invenergy and its affiliated companies have developed more than 10,300 MW of projects that are inoperation, in construction, or under contract, including wind, solar, and natural gas-fueled powergeneration projects and energy storage facilities. For more information, please visitwww.invenergyllc.com.
Contact: Mary Ryan, Senior Manager, Public Affairs 312-582-1424 or mryan@invenergyllc.com