TerraForm Power's (NASDAQ:TERP) transition to a new sponsor (Brookfield (NYSE:BAM)) is a positive development for a renewable YieldCo which has suffered from SunEdison's recent bankruptcy. We believe Brookfield will provide TERP with the leadership, acquisition sourcing, and financial backing to support continued growth in CAFD and dividends per share. However, most of the added benefits are already priced-in, following the significant rally since the Brookfield acquisition.
Company Overview
TerraForm Power owns and operates clean power generation assets. The Company's business objective is to acquire assets with high-quality contracted cash flows, primarily from owning clean power generation assets serving utility and commercial customers.
