US-based SunEdison may acquire Continuum Wind Energy, India, for Rs39 billion. Economic Times, citing an unnamed official, has reported that the deal could be completed by end of the month.
According to the business daily, the deal if closed would be the largest clean-tech acquisition in India.
Currently, Morgan Stanley Infrastructure Partners owns majority stakes in Continuum. The company’s website states that it completed projects totaling capacity of 1,000 MW, including 145 MW of operational wind farms and 270 MW in construction.
SunEdison had in February committed to install 15.2 GW of clean energy capacity, major part of which would be in solar parks, in India by 2022. Wind projects are also part of the proposal.
Earlier this year, the company had agreed to form a $4-billion joint venture with Adani Enterprises to establish a solar panel manufacturing unit in Gujarat. In May, the company acquired two renewable energy projects totaling capacity of 140 megawatts.
More recently, SunEdison signed agreements with five municipal entities on Long Island under which it would build seven direct current solar power plants totaling capacity of 14 megawatts.
Electricity from the projects is to be sold to Long Island Power Authority, a utility with 1.1 million customers in Long Island, New York. Power purchase agreements for 20-year periods have been signed for the purpose.
Ajith Kumar S