The facilities, which are located in seven US states, have long-term contracts with an average remaining life of 20 years.
TerraForm president and chief executive officer Carlos Domenech said: "This transaction furthers TerraForm’s leadership in the DG market segment – which is one of the most profitable and fastest growing clean energy market segments."
SunEdison chief financial officer Brian Wuebbels said: "This accomplishment speaks to the strength of the relationship between TerraForm and SunEdison, and our ability to deliver on shareholder commitments by working together to leverage SunEdison’s pipeline and expertise in developing, building and financing projects.
"The sale of these assets generates immediate value for SunEdison by generating cash, and recurring value through SunEdison’s ownership of TerraForm."
TerraForm Power has been active in purchasing assets since its initial public offering in July 2014, where the company raised $501m.
The company has recently acquired 77.6MW of solar power plants from the Capital Dynamics U.S. Solar Energy Fund.
In November 2014, SunEdison and TerraForm have agreed to acquire the US-based renewable energy firm First Wind for about $2.4bn.
