Brookfield's TerraForm Power Accelerates U.S. Development with Acquisition of Sun Tribe Development

Company Overview - TerraForm Power has completed the acquisition of Sun Tribe Development, a mid-sized utility-scale solar and storage developer based in Virginia, marking the initiation of a new growth strategy [1] - The acquisition more than doubles TerraForm Power's development pipeline to over 6,000 MW of solar and battery energy storage [1][4] - TerraForm Power's existing portfolio includes 3,400 MW of utility-scale wind, solar, and battery storage facilities across 23 U.S. states and Ontario, Canada [4] Strategic Implications - The acquisition is aimed at rapidly expanding TerraForm Power's footprint in the U.S. market to meet rising electricity demand and support digitalization and reindustrialization efforts [2] - Sun Tribe Development has a track record of over 800 MW of projects since its inception in 2019 and a pipeline of 4,100 MW across the Mid-Atlantic and Southeast U.S. [2][3] - The partnership with Sun Tribe Development enhances TerraForm Power's position as a preferred partner for major buyers of clean power [2] Future Outlook - Both companies share a commitment to delivering legacy-grade renewable energy projects that serve local communities and provide affordable, domestic, clean power [3] - TerraForm Power is well-positioned to capitalize on the surging electricity demand with its high-quality, diversified assets and development pipeline [4]