Hyderabad based Greenko Group to purchase 1GW assets of SunEdison in India

Greenko Energy Holdings, a Hyderabad-based firm has agreed in principle to proceed with a purchase of roughly 1GW of solar assets owned by SunEdison in India.

The Hyderabad-based energy firm has more or less agreed the transaction after meeting with the SunEdison’s restructuring officer.

It is expected that the bankrupt US company will be selling the assets worth about 670 crores (USD 1 billion) to Greenko. This also includes projects in various stages of execution.

Singapore-based GIC and the Abu Dhabi Investment Authority, which are Greenko’s existing shareholders, are said to support the company in buying the assets.

Also, the SunEdison will be 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 23^rd October 2016.

Source: Seenews