Science & Energy
Brookfield Was Already a Hydro Giant, Now It’s Going After Solar
- Brookfield bidding for shares of TerraForm that it doesn’t own
- Brookfield has just a half-megawatt of solar power in 2017
Photographer: Jacob Kepler/Bloomberg
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In 2017, Brookfield Asset Management Inc. had just a half-megawatt of solar power. By the end of this year, the total owned outright by the company could be about 2,000 megawatts.
Its unit, Brookfield Renewable Partners LP, said Monday it’s bidding to buy the shares of TerraForm Power Inc. that it doesn’t already own in a deal that values TerraForm at around $3.9 billion. The unsolicited bid comes more than two years after Brookfield initially rescued TerraForm from SunEdison Inc., a collapsed clean-energy company, by buying a 61.5% controlling stake.