Shares of TerraForm Power spiked over 15% in late afternoon trading Wednesday following the disclosure of a large stake in the company by activist firm Brookfield Asset Management (BAM Quick QuoteBAM - Free Report) .

The Toronto-based firm revealed a 12.13% stake, or about 11 million shares, in TerraForm Power. Brookfield called TerraForm Power an “attractive investment opportunity.” The activist group has acquired Class A shares, and it has entered into swap agreements that expose it to about 25% of the company's total shares.

Brookfield also announced that it was interested in purchasing the shares of TerraForm currently held by SunEdison . As most know by now, SunEdison recently filed for Chapter 11 bankruptcy protection and is desperately trying to sell off its assets for much needed cash.

TerraForm Power and TerraForm Global , both units of SunEdison, were not part of SunEdison’s bankruptcy proceedings. TerraForm Global also spiked in afternoon trading and is currently up about 8% since yesterday’s closing price.

Known for its activist behavior, Brookfield confirmed that it might “participate in and influence the affairs” of TerraForm with its current voting rights.

Both TerraForm Power and TerraForm Global currently have a Zacks Rank #3 (Hold).

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