L R AS Published on Saturday 28 November 2015 - n° 128 - Categories:funding
SunEdison sells 425 MW capacity in India for $231 million to raise capital
SunEdison will sell a 425 MW capacity located in India to its yield company TerraForm Global for $231 million. The company is raising capital to continue its investments in India. It has committed to building 15.2 GW in India over the next seven years.
Solar Business Focus November 24th
NDLR The sale of these assets is on the basis of $0.54 million per MW. Even though it is in India, the unit amount seems low. This is confirmed by the director of Terra Form Global who announces that this purchase provides a higher return than the other assets held. Moreover, various commentators believe that this sale is the consequence of the poor conditions of the IPO of this yield company last July.
cf SunEdison, the world's number one power plant installation company, is going through a very bad patch.
