World set to install 593 GW of new solar in 2024 - Ember
Sep 19, 2024 13:28 CESTSunEdison Inc (NYSE:SUNE) on Tuesday unveiled two M&A transactions that will bring over 2 GW of wind and solar power capacity in operation, under construction or under development in Central America and India.
SunEdison plans to place the acquired assets on the operational call rights list for its emerging markets yieldco TerraForm Global.
GLOBELEQ MESOAMERICA
The US renewables major has agreed to take over Globeleq Mesoamerica Energy (GME) from private equity investor Actis and Mesoamerica Power Ltd. SunEdison did not disclose the value of the deal, but noted that the two sellers will acquire stakes in TerraForm Global.
GME’s portfolio of operating assets includes 243 MW of wind farms and 82 MW direct current (DC) of solar power stations in Costa Rica, Honduras and Nicaragua. The company also has 80 MW of wind farms in Costa Rica that are entering the construction phase and a 246-MW pipeline of wind projects under development in Central America. All of the operational and construction assets have long-term power purchase agreements (PPAs) in place.
CONTINUUM WIND
In the meantime, SunEdison has also struck a definitive deal to buy Singapore-based, India-focused wind farm operator Continuum Wind Energy Ltd for an unspecified sum. According to a recent report by the Economic Times, this deal values the target at up to INR 39 billion (USD 606.7m/EUR 540m).
Continuum Wind owns and operates 242 MW of wind power facilities in India’s Maharashtra and Gujarat states, while also having 170 MW under construction in Madhya Pradesh. Moreover, the company has over 1 GW of wind projects under development across six Indian states.
Subject to regulatory clearance and certain other conditions, the two transactions are seen to close in the third quarter of 2015.
(INR 10 = USD 0.156/EUR 0.138)
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