BETHESDA, Md., Dec. 27, 2016 (GLOBE NEWSWIRE) -- TerraForm Power, Inc. (Nasdaq:TERP), an owner and operator of clean energy power plants, today announced the election of an independent director, David Pauker, to the Company’s Board of Directors, effective December 20, 2016. Mr. Pauker replaced Mr. David Springer, who has resigned from the TerraForm Power Board.

“We are excited to welcome David Pauker to the TerraForm Power Board of Directors,” said Peter Blackmore, TerraForm Power’s Chairman and Interim Chief Executive Officer. “David’s significant expertise managing turnarounds will be invaluable to the Board as it continues to navigate the challenges posed by SunEdison’s bankruptcy and establish TerraForm Power as an independent company.”

Blackmore continued, “On behalf of the entire TerraForm Power team, we thank David Springer for his service and wish him well in his future endeavors.”

Mr. Pauker will stand for reelection at TerraForm Power’s next annual meeting of shareholders. With the replacement of Mr. Springer with Mr. Pauker, the number of independent directors on TerraForm Power’s Board increased from six to seven members.

About David Pauker

David Pauker has more than 25 years of experience as a financial consultant and turnaround manager specializing in underperforming companies. From 2002 to 2015, Mr. Pauker was the executive managing director of Goldin Associates, LLC, a leading national restructuring advisory firm. At Goldin, Mr. Pauker was a senior advisor to institutional investors, lenders and management in connection with companies in consumer products, energy & natural resources, financial services, manufacturing, media & telecommunications, real estate, retail, textile & apparel and other industries. He has served as interim CEO, COO or chief restructuring officer for numerous companies undergoing significant transition and has advised clients in connection with the restructurings of Boston Generating, Calpine, Mirant, Northwestern, NRG, Power Company of America and SemGroup. He is a Fellow of the American College of Bankruptcy and a member of the Board of Directors of Lehman Brothers, appointed pursuant to the Lehman bankruptcy plan. He has frequently been ranked among leading U.S. restructuring advisors. Mr. Pauker is a graduate of Cornell University and the Columbia University School of Law.

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.