May 7 (SeeNews) - US renewables major SunEdison Inc (NYSE:SUNE) on Thursday unveiled seven transactions that will add over 750 MW of operating plants and 1,918 MW of third-party Right of First Offer (ROFO) projects to its new emerging markets yieldco.
More specifically, SunEdison has agreed to buy five green portfolios and the entire business of Latin American Power (LAP). Also, the company has signed a deal to acquire two Chinese wind development and operations and maintenance (O&M) firms from Honiton Energy Holding Ltd.
The table below gives details on the seven deals.
|Projects to be acquired near term|
|Current owner||Power source||Country||Capacity|
|Renova Energia||Wind, Hydropower||Brazil||336 MW|
|Fersa Energias Renovables SA||Wind||India||102 MW|
|LAP||Hydro, Wind||Peru, Chile||119 MW|
|Chint Solar (Zhejang) Co Ltd||Solar||India||38 MW|
|Unnamed SA firm||Wind, Solar||South Africa||34 MW|
|Solarpack Corporacion Tecnologica SL||Solar||Uruguay||26 MW|
The agreement with Renova also gives SunEdison ROFO for 1,870 MW of renewable energy assets, including 534 MW of operating facilities. The US company has also agreed to buy a 16% stake in Renova.
In addition to the facilities mentioned in the table above, the LAP deal will also provide SunEdison with 204 MW of backlog wind and hydro projects in Chile with dollar-denominated power purchase agreements (PPAs) plus a 48-MW hydro scheme in Peru and 613 MW of wind, solar and hydro projects under development in Chile.
The seven transactions are expected to be finalised in the second or third quarter of the year.
SunEdison said in a separate statement that the emerging markets yieldco vehicle, called TerraForm Global Inc, has filed for an initial public offering (IPO).
(USD 1.0 = EUR 0.887)