0000950157-17-000325.txt : 20170308 0000950157-17-000325.hdr.sgml : 20170308 20170308091507 ACCESSION NUMBER: 0000950157-17-000325 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20170308 DATE AS OF CHANGE: 20170308 GROUP MEMBERS: BROOKFIELD ASSET MGMT PVT CAP ADV (CRED.) LLC GROUP MEMBERS: BROOKFIELD ASSET MGMT PVT INST CAP ADV (CAN), LP GROUP MEMBERS: BROOKFIELD CRED. OPPTYS FUND GP, LLC GROUP MEMBERS: BROOKFIELD CRED. OPPTYS MASTER FUND, LP GROUP MEMBERS: BROOKFIELD INFRASTRUCTURE FUND III GP LLC GROUP MEMBERS: ORION US GP LLC GROUP MEMBERS: ORION US HLDGS 1 LP GROUP MEMBERS: PARTNERS LTD SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: TerraForm Power, Inc. CENTRAL INDEX KEY: 0001599947 STANDARD INDUSTRIAL CLASSIFICATION: ELECTRIC SERVICES [4911] IRS NUMBER: 464780940 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-88245 FILM NUMBER: 17674023 BUSINESS ADDRESS: STREET 1: 7550 WISCONSIN AVENUE, 9TH FLOOR CITY: BETHESDA STATE: MD ZIP: 20814 BUSINESS PHONE: (240) 762-7700 MAIL ADDRESS: STREET 1: 7550 WISCONSIN AVENUE, 9TH FLOOR CITY: BETHESDA STATE: MD ZIP: 20814 FORMER COMPANY: FORMER CONFORMED NAME: SUNEDISON YIELDCO, INC. DATE OF NAME CHANGE: 20140212 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: BROOKFIELD ASSET MANAGEMENT INC. CENTRAL INDEX KEY: 0001001085 STANDARD INDUSTRIAL CLASSIFICATION: OPERATORS OF NONRESIDENTIAL BUILDINGS [6512] IRS NUMBER: 000000000 STATE OF INCORPORATION: A6 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A BUSINESS ADDRESS: STREET 1: BROOKFIELD PLACE, 181 BAY ST, STE 300 STREET 2: PO BOX 762 CITY: TORONTO STATE: A6 ZIP: A6 M5J2T3 BUSINESS PHONE: 416-363-9491 MAIL ADDRESS: STREET 1: BROOKFIELD PLACE, 181 BAY ST, STE 300 STREET 2: PO BOX 762 CITY: TORONTO STATE: A6 ZIP: A6 M5J2T3 FORMER COMPANY: FORMER CONFORMED NAME: BRASCAN CORP/ DATE OF NAME CHANGE: 20010321 FORMER COMPANY: FORMER CONFORMED NAME: EDPERBRASCAN CORP DATE OF NAME CHANGE: 19970904 FORMER COMPANY: FORMER CONFORMED NAME: BRASCAN LTD DATE OF NAME CHANGE: 19950919 SC 13D/A 1 sc13da.htm AMENDMENT NO. 9

 
UNITED STATES
SECURITIES AND EXCHANGE
COMMISSION
WASHINGTON, D.C. 20549

SCHEDULE 13D

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 9)*

TerraForm Power, Inc.
(Name of Issuer)


Common stock, Class A, $0.01 par value
(Title of Class of Securities)


88104R100
(CUSIP Number)


A.J. Silber
Brookfield Asset Management Inc.
Brookfield Place
181 Bay Street, Suite 300
Toronto, Ontario M5J 2T3
(416) 363-9491
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)


March 6, 2017
(Date of Event which Requires Filing of this Statement)


If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.

*The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.

The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act.
 
 


 


 
 
CUSIP No. 88104R100
 
1
NAMES OF REPORTING PERSONS
 
 
BROOKFIELD ASSET MANAGEMENT INC.
 
 
 
 
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
 
 
 (a) ☒ (b) ☐
 
 
 
 
3
SEC USE ONLY
 
 
 
 
 
 
 
4
SOURCE OF FUNDS (SEE INSTRUCTIONS)
 
 
AF
 
 
 
 
5
CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)
 
 
 ☐
 
 
 
 
6
CITIZENSHIP OR PLACE OF ORGANIZATION
 
 
ONTARIO
 
 
 
 
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
7
SOLE VOTING POWER
 
 
 
 
 
 
 
8
SHARED VOTING POWER
 
 
11,075,000
 
 
 
 
9
SOLE DISPOSITIVE POWER
 
 
 
 
 
 
 
10
SHARED DISPOSITIVE POWER
 
 
11,075,000
 
 
 
 
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 
 
11,075,000
 
 
 
 
12
CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
 
 
 ☐
 
 
 
 
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
 
 
12.16%(1)
 
 
 
 
14
TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
 
 
CO
 
 
 
 
 
(1) Percentage ownership is based on an aggregate number of Class A Shares of the Issuer of 91,101,476 outstanding as of January 31, 2017, based on information disclosed by the Issuer in the Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2016, filed February 24, 2017.

2


 
CUSIP No. 88104R100
 
1
NAMES OF REPORTING PERSONS
 
 
PARTNERS LIMITED
 
 
 
 
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
 
 
 (a) ☒ (b) ☐
 
 
 
 
3
SEC USE ONLY
 
 
 
 
 
 
 
4
SOURCE OF FUNDS (SEE INSTRUCTIONS)
 
 
AF
 
 
 
 
5
CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)
 
 
 ☐
 
 
 
 
6
CITIZENSHIP OR PLACE OF ORGANIZATION
 
 
ONTARIO
 
 
 
 
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
7
SOLE VOTING POWER
 
 
 
 
 
 
 
8
SHARED VOTING POWER
 
 
11,075,000
 
 
 
 
9
SOLE DISPOSITIVE POWER
 
 
 
 
 
 
 
10
SHARED DISPOSITIVE POWER
 
 
11,075,000
 
 
 
 
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 
 
11,075,000
 
 
 
 
12
CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
 
 
 ☐
 
 
 
 
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
 
 
12.16%(2)
 
 
 
 
14
TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
 
 
CO
 
 
 
 
 
(2) Percentage ownership is based on an aggregate number of Class A Shares of the Issuer of 91,101,476 outstanding as of January 31, 2017, based on information disclosed by the Issuer in the Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2016, filed February 24, 2017.

3


 
CUSIP No. 88104R100
 
1
NAMES OF REPORTING PERSONS
 
 
BROOKFIELD ASSET MANAGEMENT PRIVATE INSTITUTIONAL CAPITAL ADVISER (CANADA), L.P.
 
 
 
 
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
 
 
 (a) ☒ (b) ☐
 
 
 
 
3
SEC USE ONLY
 
 
 
 
 
 
 
4
SOURCE OF FUNDS (SEE INSTRUCTIONS)
 
 
AF
 
 
 
 
5
CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)
 
 
 ☐
 
 
 
 
6
CITIZENSHIP OR PLACE OF ORGANIZATION
 
 
ONTARIO
 
 
 
 
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
7
SOLE VOTING POWER
 
 
 
 
 
 
 
8
SHARED VOTING POWER
 
 
10,450,000
 
 
 
 
9
SOLE DISPOSITIVE POWER
 
 
 
 
 
 
 
10
SHARED DISPOSITIVE POWER
 
 
10,450,000
 
 
 
 
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 
 
10,450,000
 
 
 
 
12
CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
 
 
 ☐
 
 
 
 
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
 
 
11.47%(3)
 
 
 
 
14
TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
 
 
PN
 
 
 
 
 
(3) Percentage ownership is based on an aggregate number of Class A Shares of the Issuer of 91,101,476 outstanding as of January 31, 2017, based on information disclosed by the Issuer in the Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2016, filed February 24, 2017.


4


 
CUSIP No. 88104R100
 
1
NAMES OF REPORTING PERSONS
 
 
BROOKFIELD INFRASTRUCTURE FUND III GP LLC
 
 
 
 
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
 
 
 (a) ☒ (b) ☐
 
 
 
 
3
SEC USE ONLY
 
 
 
 
 
 
 
4
SOURCE OF FUNDS (SEE INSTRUCTIONS)
 
 
AF
 
 
 
 
5
CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)
 
 
 ☐
 
 
 
 
6
CITIZENSHIP OR PLACE OF ORGANIZATION
 
 
DELAWARE
 
 
 
 
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
7
SOLE VOTING POWER
 
 
 
 
 
 
 
8
SHARED VOTING POWER
 
 
10,450,000
 
 
 
 
9
SOLE DISPOSITIVE POWER
 
 
 
 
 
 
 
10
SHARED DISPOSITIVE POWER
 
 
10,450,000
 
 
 
 
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 
 
10,450,000
 
 
 
 
12
CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
 
 
 ☐
 
 
 
 
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
 
 
11.47%(4)
 
 
 
 
14
TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
 
 
OO
 
 
 
 
 
(4) Percentage ownership is based on an aggregate number of Class A Shares of the Issuer of 91,101,476 outstanding as of January 31, 2017, based on information disclosed by the Issuer in the Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2016, filed February 24, 2017.

5


 
CUSIP No. 88104R100
 
1
NAMES OF REPORTING PERSONS
 
 
ORION US GP LLC
 
 
 
 
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
 
 
 (a) ☒ (b) ☐
 
 
 
 
3
SEC USE ONLY
 
 
 
 
 
 
 
4
SOURCE OF FUNDS (SEE INSTRUCTIONS)
 
 
AF
 
 
 
 
5
CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)
 
 
 ☐
 
 
 
 
6
CITIZENSHIP OR PLACE OF ORGANIZATION
 
 
DELAWARE
 
 
 
 
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
7
SOLE VOTING POWER
 
 
 
 
 
 
 
8
SHARED VOTING POWER
 
 
10,450,000
 
 
 
 
9
SOLE DISPOSITIVE POWER
 
 
 
 
 
 
 
10
SHARED DISPOSITIVE POWER
 
 
10,450,000
 
 
 
 
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 
 
10,450,000
 
 
 
 
12
CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
 
 
 ☐
 
 
 
 
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
 
 
11.47%(5)
 
 
 
 
14
TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
 
 
OO
 
 
 
 
 
(5) Percentage ownership is based on an aggregate number of Class A Shares of the Issuer of 91,101,476 outstanding as of January 31, 2017, based on information disclosed by the Issuer in the Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2016, filed February 24, 2017.

6


 
CUSIP No. 88104R100
 
1
NAMES OF REPORTING PERSONS
 
 
ORION US HOLDINGS 1 L.P.
 
 
 
 
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
 
 
 (a) ☒ (b) ☐
 
 
 
 
3
SEC USE ONLY
 
 
 
 
 
 
 
4
SOURCE OF FUNDS (SEE INSTRUCTIONS)
 
 
BK
 
 
 
 
5
CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)
 
 
 ☐
 
 
 
 
6
CITIZENSHIP OR PLACE OF ORGANIZATION
 
 
DELAWARE
 
 
 
 
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
7
SOLE VOTING POWER
 
 
 
 
 
 
 
8
SHARED VOTING POWER
 
 
10,450,000
 
 
 
 
9
SOLE DISPOSITIVE POWER
 
 
 
 
 
 
 
10
SHARED DISPOSITIVE POWER
 
 
10,450,000
 
 
 
 
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 
 
10,450,000
 
 
 
 
12
CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
 
 
 ☐
 
 
 
 
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
 
 
11.47%(6)
 
 
 
 
14
TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
 
 
PN
 
 
 
 
 
(6) Percentage ownership is based on an aggregate number of Class A Shares of the Issuer of 91,101,476 outstanding as of January 31, 2017, based on information disclosed by the Issuer in the Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2016, filed February 24, 2017.

7


 
CUSIP No. 88104R100
 
1
NAMES OF REPORTING PERSONS
 
 
BROOKFIELD ASSET MANAGEMENT PRIVATE INSTITUTIONAL CAPITAL ADVISER (CREDIT) LLC
 
 
 
 
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
 
 
 (a) ☒ (b) ☐
 
 
 
 
3
SEC USE ONLY
 
 
 
 
 
 
 
4
SOURCE OF FUNDS (SEE INSTRUCTIONS)
 
 
AF
 
 
 
 
5
CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)
 
 
 ☐
 
 
 
 
6
CITIZENSHIP OR PLACE OF ORGANIZATION
 
 
DELAWARE
 
 
 
 
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
7
SOLE VOTING POWER
 
 
 
 
 
 
 
8
SHARED VOTING POWER
 
 
625,000
 
 
 
 
9
SOLE DISPOSITIVE POWER
 
 
 
 
 
 
 
10
SHARED DISPOSITIVE POWER
 
 
625,000
 
 
 
 
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 
 
625,000
 
 
 
 
12
CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
 
 
 ☐
 
 
 
 
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
 
 
0.69%(7)
 
 
 
 
14
TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
 
 
OO
 
 
 
 
 
(7) Percentage ownership is based on an aggregate number of Class A Shares of the Issuer of 91,101,476 outstanding as of January 31, 2017, based on information disclosed by the Issuer in the Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2016, filed February 24, 2017.

8


 
CUSIP No. 88104R100
 
1
NAMES OF REPORTING PERSONS
 
 
BROOKFIELD CREDIT OPPORTUNITIES FUND GP, LLC
 
 
 
 
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
 
 
 (a) ☒ (b) ☐
 
 
 
 
3
SEC USE ONLY
 
 
 
 
 
 
 
4
SOURCE OF FUNDS (SEE INSTRUCTIONS)
 
 
AF
 
 
 
 
5
CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)
 
 
 ☐
 
 
 
 
6
CITIZENSHIP OR PLACE OF ORGANIZATION
 
 
DELAWARE
 
 
 
 
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
7
SOLE VOTING POWER
 
 
 
 
 
 
 
8
SHARED VOTING POWER
 
 
625,000
 
 
 
 
9
SOLE DISPOSITIVE POWER
 
 
 
 
 
 
 
10
SHARED DISPOSITIVE POWER
 
 
625,000
 
 
 
 
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 
 
625,000
 
 
 
 
12
CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
 
 
 ☐
 
 
 
 
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
 
 
0.69%(8)
 
 
 
 
14
TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
 
 
OO
 
 
 
 
 
(8) Percentage ownership is based on an aggregate number of Class A Shares of the Issuer of 91,101,476 outstanding as of January 31, 2017, based on information disclosed by the Issuer in the Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2016, filed February 24, 2017.


9


 
CUSIP No. 88104R100
 
1
NAMES OF REPORTING PERSONS
 
 
BROOKFIELD CREDIT OPPORTUNITIES MASTER FUND, L.P.
 
 
 
 
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
 
 
 (a) ☒ (b) ☐
 
 
 
 
3
SEC USE ONLY
 
 
 
 
 
 
 
4
SOURCE OF FUNDS (SEE INSTRUCTIONS)
 
 
AF
 
 
 
 
5
CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)
 
 
 ☐
 
 
 
 
6
CITIZENSHIP OR PLACE OF ORGANIZATION
 
 
CAYMAN ISLANDS
 
 
 
 
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
7
SOLE VOTING POWER
 
 
 
 
 
 
 
8
SHARED VOTING POWER
 
 
625,000
 
 
 
 
9
SOLE DISPOSITIVE POWER
 
 
 
 
 
 
 
10
SHARED DISPOSITIVE POWER
 
 
625,000
 
 
 
 
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 
 
625,000
 
 
 
 
12
CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
 
 
 ☐
 
 
 
 
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
 
 
0.69%(9)
 
 
 
 
14
TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
 
 
OO
 
 
 
 
 
(9) Percentage ownership is based on an aggregate number of Class A Shares of the Issuer of 91,101,476 outstanding as of January 31, 2017, based on information disclosed by the Issuer in the Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2016, filed February 24, 2017.

10

 
This Amendment No. 9 (this “Amendment No. 9”) to Schedule 13D is being filed by Orion US Holdings 1 L.P., Orion US GP LLC, Brookfield Infrastructure Fund III GP LLC, Brookfield Asset Management Private Institutional Capital Adviser (Canada), L.P., Brookfield Credit Opportunities Master Fund, L.P., Brookfield Credit Opportunities Fund GP, LLC, Brookfield Asset Management Private Institutional Capital Adviser (Credit) LLC, Brookfield Asset Management Inc. and Partners Limited to amend the Schedule 13D filed on June 29, 2016 (the “Original Schedule 13D”), as amended by Amendment No. 1 to the Original Schedule 13D, filed on July 22, 2016, Amendment No. 2 to the Original Schedule 13D, filed on October 19, 2016, Amendment No. 3 to the Original Schedule 13D, filed on November 10, 2016, Amendment No. 4 to the Original Schedule 13D, filed on November 18, 2016, Amendment No. 5 to the Original Schedule 13D, filed on December 5, 2016, Amendment No. 6 to the Original Schedule 13D, filed on January 10, 2017, Amendment No. 7 to the Original Schedule 13D, filed on January 23, 2017, and Amendment No. 8 to the Original Schedule 13D, filed on February 21, 2017 (as so amended, the “Amended Schedule 13D”), with respect to beneficial ownership of the shares of Class A common stock, $0.01 par value per share, of TerraForm Power, Inc., a corporation organized under the laws of the state of Delaware.

This Amendment No. 9 hereby amends the Amended Schedule 13D as follows:

Item 2. Identity and Background.

Item 2 of the Amended Schedule 13D is hereby amended by deleting in their entirety Schedule I, Schedule II, Schedule V and Schedule VI, which set forth a list of the directors and executive officers of Orion US GP LLC, Brookfield Infrastructure Fund III GP LLC, Brookfield Asset Management Inc. and Partners Limited, respectively, and the principal occupations and addresses of such directors and executive officers, and substituting Schedule I, Schedule II, Schedule V and Schedule VI attached hereto in lieu thereof.

Item 4. Purpose of Transaction.

Item 4 of the Amended Schedule 13D is hereby amended by adding the following:

On March 6, 2017, the Issuer entered into a Merger and Sponsorship Transaction Agreement (the Transaction Agreement) with Orion US LP, and BRE TERP Holdings Inc., a Delaware corporation and a wholly-owned subsidiary of Orion US LP (Merger Sub), providing for the merger of Merger Sub with and into the Issuer (the Merger), with the Issuer as the surviving corporation in the Merger (the Surviving Corporation) following which Orion US LP will own 51% of the common stock of the Surviving Corporation. The Transaction Agreement provides that, at or prior to the effective time of the Merger, the Issuer and Orion US LP (or one of its affiliates) will enter into certain agreements providing for sponsorship arrangements as described in greater detail below.

At the effective time of the Merger, each Class A Share issued and outstanding immediately prior to the effective time of the Merger (other than the Excluded Shares (as defined in the Transaction Agreement)), will be converted into the right to, at the holders election and subject to proration as described below, either (i) receive $9.52 per Class A Share, in cash, without interest (the Per Share Cash Consideration) or (ii) retain one share of Class A common stock, par value $0.01 per share, of the Surviving Corporation (the Per Share Stock Consideration). The Per Share Stock Consideration will be subject to proration in the event that the aggregate number of Class A Shares for which an election to receive the Per Share Stock Consideration has been made exceeds a certain maximum number as described more fully in the Transaction Agreement, and the Per Share Cash Consideration will be subject to proration in the event that the aggregate number of Class A Shares for which an election to receive the Per Share Cash Consideration has been made exceeds a certain maximum number as described more fully in the Transaction Agreement.

Immediately prior to the effective time of the Merger, the Issuer will declare the payment of a special cash dividend in the amount of $1.94 per Class A Share, as described in further detail in the Transaction Agreement.

The Transaction Agreement includes a non-waivable condition to closing that the Transaction Agreement be approved by holders of a majority of the outstanding Class A Shares, excluding SunEdison, Inc. (“SunEdison”), Orion US LP, any of their respective affiliates and any person with whom any of them has formed (and not terminated) a group (as such term is defined in the Securities Exchange Act of 1934, as amended).
 
Closing of the Merger is subject to certain additional conditions, including the adoption of the Transaction Agreement by the holders of a majority of the total voting power of the outstanding Class A Shares and shares of Class B common stock, par value $0.01 per share (together with the Class A Shares, the “Shares”), of the Company entitled to vote on the Merger, the expiration or early termination of the waiting period applicable to consummation of the Merger under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, and the entry by the United States Bankruptcy Court for the Southern District of New York of orders authorizing and approving the entry by SunEdison (and if, applicable, SunEdisons debtor affiliates) into the Settlement Agreement, the Voting and Support Agreement and any other agreement entered into in connection with the Merger or the related transactions to which SunEdison or any other debtor will be a party, and other customary closing conditions.
 
 
11

 
There is no financing condition to the consummation of the Transactions. Pursuant to the Transaction Agreement, the Issuer has agreed to provide cooperation as reasonably requested by Orion US LP in Orion US LPs efforts to obtain debt financing that is to be made available to the Issuer from and after the closing of the Merger.
 
In addition, the Transaction Agreement provides that, at or prior to the effective time of the Merger, the Issuer will enter into (a) the Master Services Agreement (the MSA) by and among the Issuer, TerraForm Power, LLC (TERP LLC), Terraform Power Operating, LLC (TERP Operating LLC), Brookfield and certain affiliates of Brookfield (collectively, the MSA Providers) pursuant to which the MSA Providers will provide certain services to the Issuer and its subsidiaries commencing at the effective time of the Merger, a form of which is set forth in Exhibit C to the Transaction Agreement filed as Exhibit 99.5 to this Amendment No. 9, (b) a revolving credit line agreement, substantially consistent with the terms set forth in Exhibit D to the Transaction Agreement filed as Exhibit 99.5 to this Amendment No. 9, by and among the Issuer and Brookfield or certain creditworthy affiliates of Brookfield (the Sponsor Line Provider) pursuant to which the Sponsor Line Provider will commit up to a $500 million revolving credit line to the Issuer, (c) the Relationship Agreement by and among the Issuer, TERP LLC, TERP Operating LLC and Brookfield, pursuant to which, among other things, Brookfield will provide the Issuer and its subsidiaries with a right of first offer on certain wind and solar assets in North America and certain other Organisation for Economic Co-operation and Development nations, a form of which is set forth in Exhibit E to the Transaction Agreement filed as Exhibit 99.5 to this Amendment No. 9 and (d) the Registration Rights Agreement by and among the Issuer and Orion US LP providing Orion US LP with registration rights with respect to its shares in the Surviving Corporation, a form of which is set forth in Exhibit F to the Transaction Agreement filed as Exhibit 99.5 to this Amendment No. 9. The Transaction Agreement also requires the Issuer to issue to Orion US LP additional shares of the Surviving Corporation in respect of any losses, costs or expenses of the Issuer arising out of certain specified litigation matters.

Further, pursuant to the Transaction Agreement, at the effective time of the Merger, the governing documents of the Surviving Corporation, including its by-laws and certificate of incorporation, will be amended and restated to be substantially consistent with the governance terms set forth in Exhibit I to the Transaction Agreement (the “Governance Terms”).

In accordance with the Governance Terms, immediately following the consummation of the Merger, the board of directors of the Issuer will consist of seven members, four of whom will be designated by Orion US LP and three of whom will be selected from the independent directors of the Issuer as of the date of the Transaction Agreement, as agreed between Orion US LP and the Conflicts Committee of the Issuer.  Going forward, Orion US LP will be entitled to designate four directors, except that (1) if Orion US LP holds less than a majority of the Class A Shares at least one of Orion US LP’s four designees must be independent and (2) if the MSA ceases to be in effect the number of directors to be designated by Orion US LP shall be subject to reduction based on Orion US LP’s ownership percentage.  Going forward, nominees for election as a director, other than those designated by Orion US LP, will thereafter be proposed for election by a majority of the then-existing independent directors not designated by Orion US LP.  Orion US LP will agree not to vote with respect to the election or removal of any director other than a director designated by Orion US LP, except that, if the MSA is not in effect, Orion US LP will be permitted to vote with respect to the election or removal of all the directors.  In accordance with the Governance Terms, upon the consummation of the Merger, the MSA Providers will designate a Chief Executive Officer, Chief Financial Officer and General Counsel, each of whom shall be employed by the MSA Providers.  The full text of the Governance Terms are incorporated herein by reference. 

A copy of the Transaction Agreement has been filed as Exhibit 99.5 to this Amendment No. 9 to provide investors with information regarding its terms. It is not intended to provide any other factual information about the Issuer, Brookfield or any of their respective subsidiaries or affiliates. The representations, warranties and covenants contained in the Transaction Agreement were made only for purposes of that agreement and as of specific dates; were made solely for the benefit of the parties to the Transaction Agreement; may be subject to limitations agreed upon by the parties thereto, including being qualified by confidential disclosures; may not have been intended to be statements of fact, but rather, as a method of allocating contractual risk and governing the contractual rights and relationships between the parties to the Transaction Agreement; and may be subject to standards of materiality applicable to the parties that differ from those applicable to investors. Investors should not rely on the representations, warranties or covenants or any descriptions thereof as characterizations of the actual state of facts or condition of the Issuer, Brookfield or any of their respective subsidiaries or affiliates. Moreover, information concerning the subject matter of the representations, warranties and covenants may change after the date of the Transaction Agreement, which subsequent information may or may not be fully reflected in the Issuer’s or Brookfield’s public disclosures.
 
12

 
Item 5. Interest in Securities of the Issuer.

Item 5 of the Amended Schedule 13D is hereby amended by adding the following:

The Exclusivity Period, as defined in the Letter Agreement with Appaloosa, expired on January 18, 2017.  Accordingly, Brookfield and Appaloosa shall no longer constitute a “group” within the meaning of the Act and the Reporting Persons hereby disclaim beneficial ownership of any Class A Shares beneficially owned by Appaloosa or any of its affiliates.

Item 6. Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer.

Item 6 of the Amended Schedule 13D is hereby amended by adding the following:

The information set forth in Items 4 and 5 of this Amendment No. 9 is incorporated by reference into Item 6 of the Amended Schedule 13D.

Concurrently with the execution and delivery of the Transaction Agreement, SunEdison, SunEdison Holdings Corporations (“SHC”), SUNE ML1, LLC (“SML1”, and together with SunEdison and SHC, the “SunEdison Stockholders”), Orion US LP, Merger Sub and the Issuer entered into a voting and support agreement (the Voting and Support Agreement), pursuant to which the SunEdison Stockholders have agreed to vote or cause to be voted any Shares or other equity securities the SunEdison Stockholders or any of their respective controlled affiliates has beneficial ownership of in favor of the Merger and to take certain other actions to support the consummation of the transactions contemplated by the Transaction Agreement.

A copy of the Voting and Support Agreement is filed as Exhibit 99.6 to this Amendment No. 9 and is incorporated by reference into this Item 6.  This summary of the Voting and Support Agreement does not purport to be complete and is qualified in its entirety by reference to the Voting and Support Agreement filed as Exhibit 99.6 to this Amendment No. 9.

The Reporting Persons hereby disclaim beneficial ownership of any Class A Shares of the Issuer beneficially owned by SunEdison, Inc. or any of its affiliates.

Item 7. Materials to be Filed as Exhibits.
 
Exhibit
Number
 
Description
 
 
 
99.5
 
Merger and Sponsorship Transaction Agreement, dated as of March 6, 2017, by and among TerraForm Power, Inc., Orion US Holdings 1 L.P. and BRE TERP Holdings Inc. (incorporated by reference to Exhibit 2.1 to the Issuer’s Form 8-K filed on March 7, 2017).
     
99.6
 
Voting and Support Agreement, dated as of March 6, 2017, by and among Orion US Holdings 1 L.P., BRE TERP Holdings Inc., SunEdison, Inc., SunEdison Holdings Corporation, SUNE ML1, LLC and TerraForm Power, Inc. (incorporated by reference to Exhibit 2.3 to the Issuer’s Form 8-K filed on March 7, 2017).
     
 

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SIGNATURES
 
After reasonable inquiry and to the best of my knowledge and belief, the undersigned certifies that the information set forth in this statement is true, complete and correct.
 
March 8, 2017
 
 
 
ORION US HOLDINGS 1 L.P. by its general
partner ORION US GP LLC
 
 
 
 
 
 
By:
/s/ Fred Day
 
 
 
Name:
Fred Day 
 
 
 
Title:   
Vice President 
 
 
 
 
 
 
 
ORION US GP LLC
 
 
 
 
 
 
By:
/s/ Fred Day
 
 
 
Name:
Fred Day 
 
 
 
Title:   
Vice President 
 
 
 
 
 
 
 
BROOKFIELD INFRASTRUCTURE FUND III GP LLC
 
 
 
 
 
 
By:
/s/ Fred Day
 
 
 
Name:
Fred Day 
 
 
 
Title:   
Vice President 
 
 
 
 
 
 
 
BROOKFIELD ASSET MANAGEMENT
PRIVATE INSTITUTIONAL CAPITAL
ADVISER (CANADA), L.P.,
by its general partner,
BROOKFIELD PRIVATE FUNDS HOLDINGS INC.
 
 
 
 
 
 
By:
/s/ James Rickert
 
 
 
Name:
James Rickert 
 
 
 
Title:   
Vice President 
 
 
 
 
 

 
14

 
 
BROOKFIELD CREDIT OPPORTUNITIES
MASTER FUND, L.P. by its general partner,
BROOKFIELD CREDIT OPPORTUNITIES FUND GP, LLC
 
 
 
 
 
 
By:
/s/ Barry Blattman
 
 
 
Name:
Barry Blattman
 
 
 
Title:   
Chairman
 
 
 
 
 
 
 
BROOKFIELD CREDIT OPPORTUNITIES FUND GP, LLC
 
 
 
 
 
 
By:
/s/ Barry Blattman
 
 
 
Name:
Barry Blattman 
 
 
 
Title:   
Chairman
 
 
 
 
 
 
 
BROOKFIELD ASSET MANAGEMENT
PRIVATE INSTITUTIONAL CAPITAL
ADVISER (CREDIT) LLC
 
 
 
 
 
 
By:
/s/ Barry Blattman
 
 
 
Name:
Barry Blattman
 
 
 
Title:   
President and Treasurer
 
 
 
 
 
 
 
BROOKFIELD ASSET MANAGEMENT INC.
 
 
 
 
 
 
By:
/s/ A.J. Silber
 
 
 
Name:
A.J. Silber
 
 
 
Title:   
Vice-President, Legal Affairs
 
 
 
 
 
 
 
PARTNERS LIMITED
 
 
 
 
 
 
By:
/s/ Brian D. Lawson
 
 
 
Name:
Brian D. Lawson
 
 
 
Title:   
President
 
 
 
 
 

 
15

 
SCHEDULE I

ORION US GP LLC

Name and Position of
Officer or Director
Principal Business
Address
Principal Occupation or Employment
Citizenship
Keiji Hattori, Associate Vice President
NBF Hibiya Building 25F,
1-1-7 Uchisaiwaicho,
Chiyoda-ku,
Tokyo 100-0011
Senior Vice President of Brookfield
Japan
       
Scott Peak, Manager
1200 Smith Street
Suite 1200
Houston, TX 77002
Vice President of Brookfield
U.S.A
       
Ralph Klatzkin, Manager and Vice President
Brookfield Place
250 Vesey Street, 15th Floor
New York, NY 10281
Vice President of Brookfield
U.S.A.
       
Fred Day, Manager and Vice President
1200 Smith Street
Suite 1200
Houston, TX 77002
Vice President of Brookfield
U.S.A.
       
Hadley Peer-Marshall, Senior Vice President
Brookfield Place
250 Vesey Street, 15th Floor
New York, NY 10281
Senior Vice President of Brookfield
U.S.A.
       
Julian Deschatelets, Senior Vice President
181 Bay Street,
Suite 300,
Brookfield Place,
Toronto, Ontario
M5J 2T3, Canada
Senior Vice President of Brookfield
Canada
       
Andrea Rocheleau, Senior Vice President
41 Victoria Street
Gatineau, Québec
J8X 2A1, Canada
Senior Vice President of Brookfield
Canada

16



SCHEDULE II

BROOKFIELD INFRASTRUCTURE FUND III GP LLC

Name and Position of
Officer or Director
Principal Business
Address
Principal Occupation or Employment
Citizenship
Justin Beber, President
181 Bay Street, Suite 300,
Brookfield Place,
Toronto, Ontario
M5J 2T3, Canada
Managing Partner of Brookfield
Canada
       
Mark Srulowitz, Manager and Vice President
Brookfield Place
250 Vesey Street, 15th Floor
New York, NY 10281
Managing Partner of Brookfield
U.S.A.
       
Scott Peak, Manager
1200 Smith Street
Suite 1200
Houston, TX 77002
Vice President of Brookfield
U.S.A
       
Keiji Hattori, Associate Vice President
NBF Hibiya Building 25F,
1-1-7 Uchisaiwaicho,
Chiyoda-ku,
Tokyo 100-0011
Senior Vice President of Brookfield
Japan
       
Ralph Klatzkin, Manager and Vice President
Brookfield Place
250 Vesey Street, 15th Floor
New York, NY 10281
Vice President of Brookfield
U.S.A.
       
Fred Day, Manager and Vice President
1200 Smith Street
Suite 1200
Houston, TX 77002
Vice President of Brookfield
U.S.A.

 

17

 
SCHEDULE V

BROOKFIELD ASSET MANAGEMENT, INC.

Name and Position of
Officer or Director
Principal Business
Address
Principal Occupation or Employment
Citizenship
M. Elyse Allan, Director
2300 Meadowvale Road, Mississauga, Ontario,
L5N 5P9, Canada
President and Chief Executive Officer of General Electric Canada Company Inc.
Canada
       
Jeffrey M. Blidner, Director and Senior Managing Partner
181 Bay Street, Suite 300
Toronto, Ontario M5J 2T3, Canada
Senior Managing Partner of Brookfield
Canada
       
Angela F. Braly, Director
832 Alverna Drive, Indianapolis, Indiana 46260
President & Founder of The Braly Group, LLC
U.S.A.
       
Jack L. Cockwell, Director
51 Yonge Street, Suite 400, Toronto, Ontario M5E 1J1, Canada
Corporate Director
Canada
       
Marcel R. Coutu, Director
335 8th Avenue SW,
Suite 1700
Calgary, Alberta
T2P 1C9, Canada
Former President and Chief Executive Officer of Canadian Oil Sands Limited
Canada
       
Maureen Kempston Darkes, Director
21 Burkebrook Place,
Apt. 712
Toronto, Ontario
M4G 0A2, Canada
Corporate Director of Brookfield and former President, Latin America, Africa and Middle East of General Motors Corporation
Canada
       
J. Bruce Flatt, Director and Senior Managing Partner and Chief Executive Officer
181 Bay Street, Suite 300,
Toronto, Ontario M5J 2T3, Canada
Senior Managing Partner and Chief Executive Officer of Brookfield
Canada
       
Robert J. Harding, Director
181 Bay Street,
Suite 300,
Brookfield Place,
Toronto, Ontario
M5J 2T3, Canada
Past Chairman of Brookfield
Canada
       
David W. Kerr, Director
c/o 51 Yonge Street,
Suite 400,
Toronto, Ontario M5E 1J1, Canada
Chairman of Halmont Properties Corp.
Canada
Brian W. Kingston, Senior Managing Partner 
181 Bay Street,
Suite 300
Toronto, Ontario
M5J 2T3, Canada
Senior Managing Partner of Brookfield Canada
       
Brian D. Lawson, Senior Managing Partner and Chief Financial Officer 
181 Bay Street,
Suite 300
Toronto, Ontario
M5J 2T3, Canada
Senior Managing Partner and Chief Financial Officer of Brookfield Canada
 
18

 
Philip B. Lind, Director
Rogers Communications Inc.,
333 Bloor Street East,
10th Floor,
Toronto, Ontario M4W 1G9, Canada
Co-Founder, Vice Chairman and Director of Rogers Communications Inc.
Canada
       
Cyrus Madon, Senior Managing Partner
181 Bay Street,
Suite 300
Toronto, Ontario M5J 2T3, Canada
Senior Managing Partner of Brookfield
Canada
       
Frank J. McKenna, Director
TD Bank Group, P.O. Box 1, TD Centre,
66 Wellington St. West,
4th Floor, TD Tower,
Toronto, Ontario
M5K 1A2, Canada
Chair of Brookfield and Deputy Chair of TD Bank Group
Canada
       
Youssef A. Nasr, Director
P.O. Box 16 5927,
Beirut, Lebanon
Corporate Director of Brookfield and former Chairman and CEO of HSBC Middle East Ltd. and former President of HSBC Bank Brazil
Lebanon and U.S.A.
       
Lord Augustine Thomas O’Donnell, Director
P.O. Box 1, TD Centre,
66 Wellington St. W., 4th Floor, TD Tower
Toronto, Ontario
M5K 1A2, Canada
Chairman of Frontier Economics and Strategic Advisor of TD Bank Group
United Kingdom
       
Samuel J.B. Pollock, Senior Managing Partner
181 Bay Street,
Suite 300
Toronto, Ontario
M5J 2T3, Canada
Senior Managing Partner of Brookfield
 
Canada
       
Ngee Huat Seek, Director
168 Robinson Road
#37 — 01 Capital Tower
Singapore 068912
Former Chairman of the Latin American Business Group, Government of Singapore Investment Corporation
Singapore
       
Diana L. Taylor, Director
Solera Capital L.L.C
625 Madison Avenue,
3rd Floor
New York, N.Y. 10022
Vice Chair of Solera Capital LLC
U.S.A
       
George S. Taylor, Director
R.R. #3, 4675 Line 3,
St. Marys, Ontario
N4X 1C6, Canada
Corporate Director of Brookfield
Canada
       
A.J. Silber, Vice-President, Legal Affairs and Corporate Secretary
181 Bay Street,
Suite 300
Toronto, Ontario
M5J 2T3, Canada
Vice-President, Legal Affairs and Corporate Secretary of Brookfield
Canada

 
19



SCHEDULE VI

PARTNERS LIMITED

Name and Position of Officer
or Director
Principal Business
Address
Principal Occupation or Employment
Citizenship
Jack L. Cockwell, Director and Chairman
51 Yonge Street,
Suite 400,
Toronto, Ontario
M5E 1J1, Canada
Corporate Director
Canada
       
David W. Kerr, Director
51 Yonge Street,
Suite 400,
Toronto, Ontario M5E 1J1, Canada
Chairman of Halmont Properties Corp.
Canada
       
Brian D. Lawson, Director and President
Brookfield Asset Management, Inc.,
181 Bay Street,
Brookfield Place,
Suite 300
Toronto, Ontario
M5J 2T3, Canada
Senior Managing Partner and Chief Financial Officer of Brookfield
Canada
       
George E. Myhal, Director
Partners Value Fund Inc.,
181 Bay Street,
Brookfield Place, Suite 300,
Toronto, Ontario
M5J 2T3, Canada
President and CEO of Partners Value Fund Inc.
Canada
       
Timothy R. Price, Director
51 Yonge Street,
Suite 400
Toronto, Ontario M5E 1J1, Canada
Chairman, Brookfield Funds
Canada
       
Tony E. Rubin, Treasurer
51 Yonge Street,
Suite 400
Toronto, Ontario M5E 1J1, Canada
Accountant
Canada
       
Lorretta Corso, Secretary
Brookfield Asset Management, Inc.,
181 Bay Street,
Brookfield Place, Suite 300,
Toronto, Ontario
M5J 2T3, Canada
Corporate Secretarial Administrator, Brookfield
Canada
 

 
20