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SunEdison's TerraForm Global Acquires Solar Farm in Uruguay

TerraForm Global Inc., a holding company founded and controlled by clean-energy developer SunEdison Inc., did something Friday its parent has struggled to do recently: complete an acquisition.

TerraForm Global bought the 26.4-megawatt Alto Cielo solar farm in Uruguay from Spanish developer Solarpack Corp. Tecnologica SL, it said in a filing Friday, after the close of regular trading in New York. It paid $35.4 million for the power plant, which began operations last month.

The acquisition comes as TerraForm Global seeks to avoid being swept into potential insolvency proceedings of its parent. SunEdison is swimming in debt and is...