TerraForm Power gets another $86M in Canada project financing

|About: TerraForm Power, Inc. (TERP)|By:, SA News Editor

TerraForm Power (TERP +0.1%) says it secured an $86M expansion of project financing for its four utility-scale solar plants in Canada.

Combined with an initial $90M tranche, TERP says the upsizing brings the total facility to $175M.

TERP says proceeds from the initial financing were used to repay $70M of its corporate revolver, and it plans to use proceeds from the upsizing to further cut its debt balance and for general corporate purposes.

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