TerraForm Global To Explore Strategic Alternatives - Quick Facts

(RTTNews) - TerraForm Global, Inc. (GLBL), an owner and operator of clean energy power plants, said that at the recommendation of its Corporate Governance and Conflicts Committee, its Board of Directors has initiated a process to explore and evaluate potential strategic alternatives to maximize stockholder value. This includes a merger or sale of its entire business.

Peter Blackmore, Interim Chief Executive Officer said, "We are open to considering a transaction involving a new sponsor that would contribute to the stabilization and future growth of the Company's very attractive platform of generation assets in a way that benefits TerraForm Global stockholders, including through negotiation of new sponsorship arrangements or through assumption of SunEdison's existing sponsorship agreements."

TerraForm Global has entered into confidentiality arrangements with SunEdison, Inc. and representatives for certain of its stakeholders to allow TerraForm Global to share confidential information about strategic alternatives and other matters. Certain strategic alternatives for TerraForm Global may require stockholder approval.

TerraForm Global said that Since SunEdison is operating under Chapter 11 bankruptcy protection, many decisions made by SunEdison - such as how to vote its shares in TerraForm Global to approve a merger or sale of substantially all of TerraForm Global's assets - may require the approval of the U.S. Bankruptcy Court for the Southern District of New York.

TerraForm Global also noted that its publicly traded sister company, TerraForm Power, Inc. (TERP), has announced that it is undertaking a similar review of strategic alternatives.