Climate Changed
Offshoot of Fallen Clean Energy Giant Takes It Slow
- Brookfield acquired control of TerraForm Power in October
- Sets lower dividend target, expects fewer acquisitions
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The name on the door is still TerraForm Power Inc. Its shares are still traded and the company still owns an extensive portfolio of wind and solar farms. But look inside, and it’s clear plenty of things have changed.
Since Brookfield Asset Management Inc. acquired a controlling stake in October, TerraForm is less reliant on acquisitions to achieve growth. That was the way of previous owner SunEdison Inc., the clean-energy giant that flamed out in the biggest bankruptcy of 2016 after a multicontinent buying binge.