<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0306</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2020-07-31</periodOfReport>

    <notSubjectToSection16>true</notSubjectToSection16>

    <issuer>
        <issuerCik>0001599947</issuerCik>
        <issuerName>TerraForm Power, Inc.</issuerName>
        <issuerTradingSymbol>TERP</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001698985</rptOwnerCik>
            <rptOwnerName>Fong Christian S.</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>200 LIBERTY STREET</rptOwnerStreet1>
            <rptOwnerStreet2>14TH FLOOR</rptOwnerStreet2>
            <rptOwnerCity>NEWYORK</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10281</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>true</isDirector>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Class A Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2020-07-31</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>D</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>10017</value>
                </transactionShares>
                <transactionPricePerShare>
                    <footnoteId id="F1"/>
                    <footnoteId id="F2"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>0</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <footnotes>
        <footnote id="F1">On July 31, 2020, pursuant to the Agreement and Plan of Reorganization (the &quot;Reorganization Agreement&quot;), dated as of March 16, 2020, among Brookfield Renewable Partners L.P. (&quot;BEP&quot;), Brookfield Renewable Corporation (&quot;BEPC&quot;), 2252876 Alberta ULC, a wholly owned direct subsidiary of BEP, TerraForm Power, Inc. (&quot;TerraForm Power&quot;) and TerraForm Power NY Holdings, Inc. (&quot;Holdings&quot;), pursuant to which TerraForm Power merged with and into Holdings, with Holdings surviving the merger (the &quot;Reincorporation Merger&quot;).</footnote>
        <footnote id="F2">(continued from footnote 1) Pursuant to the Reorganization Agreement, at the effective time of the Reincorporation Merger, each share of Class A common stock, par value $0.01, of TerraForm Power was acquired for consideration equivalent to 0.47625 of a BEP unit. For each share of TerraForm Power's Class A common stock held, TerraForm Power stockholders were entitled to receive, at their election, either Class A exchangeable subordinate voting shares of BEPC or limited partnership interests in BEP representing a fractional part of all the limited partner interests in BEP.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Christian S. Fong</signatureName>
        <signatureDate>2020-07-31</signatureDate>
    </ownerSignature>
</ownershipDocument>
