EnergyWatch

SunEdison said to exit India with sale of projects to Greenko

Greenko, backed by the sovereign wealth funds of Abu Dhabi and Singapore, is taking over wind and solar farms from bankrupt renewables giant SunEdison, which is looking to exit its business in India.

Photo: Frank Boutrup Schmidt/Vestas

Bankrupt clean-energy giant SunEdison Inc. is exiting its business in India by selling 1.7 gigawatts of wind and solar farms to Greenko Energies Pvt., according to two executives with direct knowledge of the transaction.

Greenko, backed by the sovereign wealth funds of Abu Dhabi and Singapore, took over SunEdison sites in September that include ones with 440 megawatts of capacity already operating and another 1,200 megawatts of projects still under development, according to the people, who asked not to be identified because they are not authorized to speak to the media. The assets are valued at about USD 500 million, one of the people said.

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