TerraForm’s $350 million wind play boosts stock price to record high

TerraForm Power, the solar operator subsidiary of Maryland Heights-based SunEdison, has agreed to buy a portfolio of five wind farm projects for $350 million.

The five wind farms, which are expected to generate adjusted EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) of $56 million a year on average during the next decade, are located in high wind areas of Oklahoma and Idaho.

The deal is subject to regulatory approval and is expected to close in the second quarter. Morgan…