SunEdison (NYSE: SUNE) signed agreements to acquire two renewable energy developers based in Singapore and Central America.
The company signed a definitive agreement to acquire Continuum Wind Energy Limited, Singapore with assets in India. Continuum owns and operates 242 MW of wind power plants in Maharashtra and Gujarat states, as well as 170 MW under construction in Madhya Pradesh state and more than 1,000 MW in development across six states in India. SunEdison Services will perform operation and maintenance of the wind plants. Closing of the deal is expected in the third quarter of 2015, subject to regulatory approvals.
SunEdison also announced it would acquire a 100 percent interest in Globeleq Mesoamerica Energy (GME), Central America’s renewable energy company. SunEdison will purchase the 70 percent stake from Actis and 30 percent from Mesoamerica Power Limited.
As part of the deal, SunEdison will acquire GME’s development and asset management portfolio consisting of four operating wind power plants with a capacity of 243 MW and an 82-MW solar power plant in Costa Rica, Honduras and Nicaragua; 80-MW of wind farms beginning construction in Costa Rica; and a pipeline of 246 MW under development in several Central American countries.
SunEdison intends to place all of the wind and solar plants acquired from GME and Continuum on the operational call rights list for TerraForm Global.
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