Solar and wind power company TerraForm Power Inc. (TERP) said Tuesday, March 17, it has agreed to a take-private deal with Brookfield Asset Management Inc. (BAM) affiliate Brookfield Renewable Partners LP (BEP) at slightly improved terms from the buyer’s January offer.

TerraForm Power said Brookfield Renewable would purchase each share of the company’s stock not already owned by the firm and its affiliates for consideration equal to 0.381 of a Brookfield Renewable unit, up from Brookfield Renewable’s offer of 0.36 of its common units on Jan. 13. Brookfield Renewable and its affiliates effectively own 62% of TerraForm Power’s shares.

Hamilton, Bermuda-based Brookfield Renewable picked up a majority stake in TerraForm Power in March 2017 when parent Brookfield Asset Management agreed to take over as the yieldco’s primary sponsor from bankrupt solar company SunEdison Inc.’s hands for $1.7 billion. That deal also saw Brookfield Asset Management acquire SunEdison’s other yieldco, Bethesda, Md.-based power plant operator TerraForm Global Inc. (GLBL), for $787 million.

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