Greenko nears deal to buy 1 GW of SunEdison assets in India - report
Solar park in India built by SunEdison. Author: American Center Mumbai. License: Creative Commons, Attribution-NoDerivs 2.0 Generic
Hyderabad-based Greenko Energy Holding has agreed in principle to proceed with a purchase of roughly 1 GW of solar assets owned by SunEdison (OTCMKTS:SUNEQ) in India, The Times of India reports.
The unit of Greenko Group Plc (LON:GKO) has more or less agreed the transaction after company officials met with SunEdison’s restructuring officer, people familiar with the matter told the newspaper.
According to the report, the bankrupt US company will sell assets worth about USD 1 billion (EUR 890m) to Greenko. This includes projects in various stages of execution.
Greenko’s existing shareholders, Singapore-based GIC and the Abu Dhabi Investment Authority, will support the company in buying the assets, the newspaper said.
The report also mentions that SunEdison is separately selling its patented technology for the production of polysilicon wafers and that sovereign wealth funds and Chinese parties are interested in it. The bidding deadline is October 23, the sources have added.