Greenko in USD-260m deal for SunEdison India - report
Solar park in India built by SunEdison. Author: American Center Mumbai. License: Creative Commons, Attribution-NoDerivs 2.0 Generic
Greenko Energy Holdings is to buy the Indian assets of bankrupt US firm SunEdison (OTCMKTS:SUNEQ) for USD 260 million (EUR 236m), the Financial Express said Saturday.
Citing informed sources, the business daily said it “is believed” that the deal has been finalised. The targeted assets have been valued at some USD 100 million, while the Greenko Group Plc (LON:GKO) subsidiary will also assume nearly USD 160 million of liabilities.
The report says Greenko will buy 350 MW of operational solar power plants and nearly 950 MW of capacity under construction. It will have to immediately inject more than INR 5 billion (USD 74m/EUR 68m) into SunEdison’s projects to be sure states to not revoke bank guarantees, the Financial Express added.
Last week, Indian media said a Greenko Group subsidiary had raised roughly USD 500 million through the sale of green bonds.