SunEdison, a global renewable energy development company and Vivint Solar, a provider of residential solar systems in the U.S., have reached an agreement to amend the merger agreement previously announced on July 20, 2015.

In conjunction with the foregoing, SunEdison also announced that 313 Acquisition, the vehicle controlled by private equity funds managed by Blackstone, has entered into a commitment to provide a $250 million credit facility to fund the ongoing growth of SunEdison. The merger is anticipated to close in the first quarter of 2016.

To support the merger transaction, SunEdison also entered into a second amended and restated commitment letter with Goldman Sachs Bank USA, Barclays Bank PLC, Citigroup Global Markets and UBS Securities for a $300 million secured term loan facility to be provided to a wholly-owned, indirect subsidiary of SunEdison that will hold certain development assets of the expanded SunEdison residential and small commercial platform following the merger with Vivint Solar.

“SunEdison is very pleased to reach an agreement with Vivint Solar and 313 Acquisition to modify the merger agreement. Given the recent market volatility, we believe the modified agreement is in the best interest of all parties. We look forward to growing our residential and small commercial business with Greg Butterfield and his exceptional team,” said Ahmad Chatila, SunEdison’s chief executive officer. “In addition, we are also delighted to add the Blackstone team as a key new stakeholder and partner.”