SunEdison has applied for listing of its yieldco on the Nasdaq stock exchange. Alongside the IPO, TerraForm Global will also issue $800 million in green bonds. The offering is subject to market conditions.
Green bonds are used to fund projects with a positive affect on the environment. TerraForm will use the proceeds from the bonds to invest in renewable energy projects. In particular, it will be used to finance equipment and systems for producing renewable energy, TerraForm said.
TerraForm Global is the yieldco set up by renewable energy developer SunEdison. It is used to hold interests in a range of renewable energy portfolios across the globe, outside the US.
Last week, Brazilian firm Renova Energia sold part of its renewable energy portfolio to SunEdison and TerraForm Global.
In June, manufacturer GE said it would invest $25 million in the yieldco and provide servicing to its international projects.
TerraForm Global is SunEdison's second yieldco to be floated on the stock exchange. TerraForm Power is its US-focused yieldco, which was floated on Nasdaq in July 2014. TerraForm Power's portfolio includes projects acquired from Invenergy and First Wind.