TerraForm Power Announces Extension Until March 2017 To Regain Nasdaq Compliance

BETHESDA, Md., Nov. 16, 2016 (GLOBE NEWSWIRE) -- TerraForm Power, Inc. (Nasdaq:TERP) (the "Company"), an owner and operator of clean energy power plants, announced today that, following a hearing on November 3, 2016, the Nasdaq Hearings Panel (the "Panel") granted the Company's request for an extension until March 10, 2017 to regain compliance with Nasdaq's continued listing requirements with respect to its delayed Form 10-K for the year ended December 31, 2015 and its delayed Forms 10-Q for the periods ended March 31 and June 30, 2016. The Panel granted the Company the maximum possible extension until the expiration of the Panel's discretion to allow continued listing while the Company remains out of compliance with Nasdaq's continued listing requirements.

Based on discussions with the Panel's staff, the extension granted by the Panel also covers the non-compliance by the Company with Nasdaq Listing Rule 5250(c)(1) caused by the failure of the Company to timely file its Form 10-Q for the period ended September 30, 2016, of which the Company was formally notified by a letter from a Senior Director of Nasdaq Listing Qualifications on November 15, 2016.

About TerraForm Power

TerraForm Power is a renewable energy company that is changing how energy is generated, distributed and owned. TerraForm Power creates value for its investors by owning and operating clean energy power plants. For more information about TerraForm Power, please visit: www.terraformpower.com.

Cautionary Note Regarding Forward-Looking Statements

This communication contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements can be identified by the fact that they do not relate strictly to historical or current facts. These statements involve estimates, expectations, projections, goals, assumptions, known and unknown risks, and uncertainties and typically include words or variations of words such as "expect," "anticipate," "believe," "intend," "plan," "seek," "estimate," "predict," "project," "goal," "guidance," "outlook," "objective," "forecast," "target," "potential," "continue," "would," "will," "should," "could," or "may" or other comparable terms and phrases.

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