Sol-Wind Renewable Power LP, which owns a portfolio of contracted solar generation assets, announced terms for its IPO on Thursday. The New York, NY-based company plans to raise $174 million by offering 8.7 million units at a price range of $19 to $21. At the midpoint of the proposed range, it would command a fully diluted market value of $401 million.
Renewable energy yieldco IPOs in 2014 included Abengoa Yield (ABY; +17%) and TerraForm Power (TERP; +30%), both of which priced above their proposed range.
Sol-Wind Renewable Power LP, which was founded in 2014 and booked $24 million in revenue for the 12 months ended September 30, 2014, plans to list on the NYSE under the symbol SLWD. UBS Investment Bank, Citi, Wells Fargo Securities, Credit Suisse, Deutsche Bank and Macquarie Capital are the joint bookrunners on the deal. It is expected to price during the week of February 9, 2015.
