Brazil-based Renova’s Partnership with SunEdison Shows Shift in Strategy

Instead of owning and operating power plants, which deliver long-term, steady revenue streams, Renova Energia SA’s Thursday deal to sell assets to TerraForm Global Inc., a newly formed unit of U.S. developer SunEdison Inc., is the first step toward selling all its operating assets, according to a person involved in the deal who asked not to be identified because the plans are private.