SunEdison Inc. and its unit TerraForm Power Inc. said they would acquire Vivint Solar Inc. in a deal valued at about 2.2 billion dollars, according to Reuters.

SunEdison will pay Vivint shareholders 9.89 dollars in cash, 3.31 dollars in SunEdison stock and 3.30 dollars in SunEdison notes for every Vivint share they hold. The offer works out to 16.50 dollars per share, a 51.7 percent premium to Vivint’s Friday close.

SunEdison is the world’s largest renewable energy development. Vivint Solar is a leading provider of distributed solar energy – electricity generated by a solar energy system installed at a customer’s location – to residential, commercial and industrial customers in the United States.