TerraForm Global, a yieldco formed by SunEdison to own wind and solar power assets in emerging markets, filed on Thursday with the SEC to raise up to $700 million in an initial public offering.
SunEdison's US solar power unit, TerraForm Power (TERP), went public in July 2014 and trades 56% above its offer price.
The Bethesda, MA-based company, which was formed in 2014 and booked $21 million in sales for the fiscal year ended December 31, 2014, has not yet disclosed a ticker or an exchange. J.P. Morgan, Barclays, Citi and Morgan Stanley are the joint bookrunners on the deal. No pricing terms were disclosed.
