SunEdison’s TerraForm Power (TERP) unit will acquire Vivint’s rooftop solar portfolio, which will consist of 523 megawatts by year’s end, for $922 million in cash as part of the deal.

USA renewables developer SunEdison Inc (NYSE:SUNE) has revised its 2016 installations guidance to a range of 4,200 MW to 4,500 MW, up by 50% compared to the prior forecast.

SunEdison plans to pay the $2.2 billion in cash, common stock and convertible notes for Vivint, the company said.

The offer works out to $16.50 per share, a 52 percent premium to Vivint’s Friday close.

Ahmad Chatila, SunEdison chief executive officer and TerraForm Power chairman, said: “We expect the Vivint Solar transaction to create significant value for our stockholders through the accretion in our TerraForm Power ownership, the acceleration of our Incentive Distribution Rights and an immediate expansion of our capacity and bandwidth to grow our residential business in the U.S. and globally”. SunEdison expects to issue approximately $370m of its common stock and $350m of SunEdison convertible notes to Vivint Solar stockholders as merger consideration.

Vivint Solar surged 41% in premarket trading on Monday after news that it’s being acquired by SunEdison and TerraForm.

TerraForm Power will also acquire future residential and small-scale commercial projects from SunEdison’s expanded residential and small commercial (RSC) business arm. The rooftop solar portfolio is expected to add a growing, high-quality, long-term contracted and geographically diverse asset base to the SunEdison family of companies, strengthening one of the largest and highest-growth global renewable power platforms in the world.