SunEdison, already a very big solar developer, will become even bigger when it purchases First Wind, one of the major wind energy developers in the country.

The acquisition of First Wind transforms SunEdison and TerraForma Power, an indirect subsidiary, into diversified renewable energy and will make SunEdison the leading renewable power plant developer in the world,” said Ahmad Chatila, SunEdison president and CEO in astatement.

SunEdison will pay $2.4 billion for First Wind. The company believes the deal will mean faster project deployment and  additional growth opportunities as it integrates the wind company into its global project development and financing platforms.

First Wind CEO Paul Gaynor said “This new strategic organization will allow to join with SunEdison to develop and invest in new, long-term contracted, well-sited and well-run renewable energy  projects that deliver clean energy to homes and businesses across the country and internationally.

“We will be able to leverage our strength in development and operations, proven during completion of 1.5 GW of wind projects over eight year, with two world-class companies.”