First Wind

Sale of Company for $2.4 billion to:

SunEdison LLC, TerraForm Power, Inc.

SunEdison, Inc. (NYSE: SUNE) and its yieldco platform, TerraForm Power, Inc. (NASDAQ: TERP) acquired First Wind for $2.4 billion. First Wind, a leading independent wind and solar development and asset management company in the U.S, was equally owned by D.E. Shaw & Co. and Madison Dearborn Partners.

Marathon Capital served as an advisor to the Board of Managers of First Wind Holdings, LLC.

SunEdison has acquired over 1.6 GW of pipeline and a backlog of wind and solar projects that will be added to TerraForm Power’s project list which are expected to become operational in 2015-2017. Over 600 MW of the pipeline projects are solar development projects. TerraForm Power will acquire 500 MW of contracted operating wind projects and 21 MW of contracted solar projects.

An additional 6.4 GW of project development opportunities are included in the transaction.

Marathon's Role

M&A - Sell Side

Client Countries


Counter Party Countries



November 2014