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TerraForm Power closes IPO

TerraForm Power, of Beltsville, a subsidiary of SunEdison formed to own and operate contracted clean power generation assets, announced it has closed its initial public offering of over 20 million shares of its Class A common stock at a price to the public of $25 per share.  In addition, the underwriters exercised in full their option to purchase an additional 3 million shares of Class A common stock at the initial public offering price. TerraForm Power received net proceeds from the IPO of approximately $533.5 million and gross proceeds of $65 million from the sale of Class A common stock in the private placement transactions.