TerraForm Power, Inc. announced the closing of its previously announced merger and sponsorship transaction. Brookfield Asset Management has assumed the role of TerraForm Power's sponsor and Brookfield, together with its institutional partners, is now TerraForm Power's controlling shareholder, holding 51% of its outstanding common shares. In connection with the consummation of the merger, Mr. Peter Blackmore resigned from his position as the Interim Chief Executive Officer of TerraForm Power and Ms. Rebecca Cranna was removed from her position as the Executive Vice President and Chief Financial Officer of TerraForm Power.

John Stinebaugh has been named as Chief Executive Officer of TerraForm Power. Mr. Stinebaugh brings over 20 years of infrastructure and power expertise to his role as Chief Executive Officer of TerraForm Power. Mr. Stinebaugh is a Managing Partner with Brookfield.

Matthew Berger has been named as Chief Financial Officer of TerraForm Power. Mr. Berger brings over 20 years of Finance experience to his role. He joined Brookfield in 2013 and most recently served in Brookfield Property Group as Executive Vice-President and Chief Financial Officer of IDI Gazeley.