This High-Yield Renewable Energy Stock's Turnaround Plan Is Starting to Gain Steam

Last year, leading alternative asset manager Brookfield Asset Management (NYSE: BAM)bought a controlling stake in struggling renewable power company TerraForm Power (NASDAQ: TERP). Its aim was two-fold: Generate more cash out of TerraForm's existing portfolio and grow its platform to create more value for investors.

While they are still in the early days of this transformation, the initial results are very encouraging. That's evident by taking a closer look at TerraForm's first-quarter report.