TerraForm Power Inc. says it will acquire the operating portfolio of Hudson Energy Solar Corp., a solar project developer that owns and operates solar assets for schools and commercial and industrial customers. TerraForm Power will purchase and split the company with SunEdison Inc.
Hudson's portfolio of 101 projects (approximately 25.5 MW) will go to TerraForm Power, while its 4.5 MW development pipeline will be acquired by SunEdison and added to TerraForm Power's call right project list.
Just Energy Group, the holding company for Hudson, will also provide TerraForm Power with a right-of-first-offer agreement to acquire new operating solar projects built for Just Energy's commercial and industrial customers in four states: New Jersey, New York, Massachusetts and Pennsylvania.
