A majority stake in a portfolio of wind farms in the US and Canada will be purchased by TerraForm Power Inc. for $2 billion from Invenergy Wind LLC. A spinoff of SunEdison Inc.'s clean-power assets paved the way for the formation of TerraForm last year.

TerraForm is likely to acquire net ownership of 460 megawatts of wind power plants. A warehouse facility that will be sponsored by SunEdison and third-party equity investors will acquire an additional 470 megawatts of wind power plants.

In recent after-hours trading, TerraForm shares jumped 3.5% to $38.86, whereas rise of 3.8% to $30.05 was witnessed in shares of SunEdison.

Seven contracted wind farms are included in the assets in the deals that are likely to go through in the fourth quarter. Nearly one-tenth of Invenergy's total contracted portfolio is represented by those assets. A 9.9% stake in the US assets will be retained by Invenergy, which will also provide certain operations and maintenance services for those power plants.

Invenergy Chief Financial Officer Jim Murphy stated in a news release Monday, "Market interest in these wind projects was strong, reflecting the quality of these renewable energy assets, all of which have long-term power sale contracts".

Groups of power plants, solar farms and wind farms have been spun off by SunEdison and other renewable-energy developers such as NextEra Energy Inc. and NRG Energy Inc. into new companies, like TerraForm. These sell power to utilities and other companies under long-term contracts, and shareholders are being paid dividends on regular basis.