TerraForm Power Inc., which owns and operates power plants built by SunEdison Inc., acquired 23 megawatts of solar capacity from Integrys Energy Group Inc.
TerraForm is paying $45 million and assuming $10 million of debt to own about two-thirds of 48 projects in six states, the Bethesda, Maryland-based company said Thursday in a statement. The deal closed Wednesday.
The solar farms became operational from 2008 to 2013 and have an average of 15 years remaining on long-term contracts to sell electricity, according to the statement. Their full capacity is 34 megawatts.
TerraForm was spun off SunEdison as a yieldco in May of last year, allowing investors to own the projects and reap dividends as a shareholder pool.