NRG Yield to acquire North America's largest wind farm for $870M

|About: NRG Yield, Inc. (NYLD)|By:, SA News Editor

NRG Yield (NYLD) confirms it has agreed to acquire the Alta Wind facility located in Tehachapi, Calif., for $870M, plus the assumption of $1.6B of non-recourse project financing, from Terra-Gen Power (earlier).

The acquisition, which totals 947 MW of operating wind capacity, also includes a portfolio of land leases associated with the Alta Wind facility.

NYLD expects the deal to increase its annual run-rate EBITDA by ~$220M and cash available for distribution by ~$70M by 2016.

NRG +0.4% premarket.