Solar technology firm SunEdison India has acquired Singapore-based Continuum Wind Energy for an undisclosed sum.
“SunEdison has signed a definitive agreement to acquire Continuum Wind Energy, Singapore with assets in India,” SunEdison said in a statement here on Tuesday.
“India is a core market for us and offers tremendous growth opportunities in wind and solar energy. With the acquisition of Continuum, a leading wind energy company in India, we have added significant assets and a skilled wind development team to drive further growth in our renewable energy development platform,” chief executive Ahmad Chatila said.
“SunEdison’s strong global financial capabilities and talented local team here in India position us to capture the incredible business opportunity in this dynamic market,” Continuum chief executive Arvind Bansal said.
Continuum operates 242 MW of wind power plants in Maharashtra and Gujarat, has another 170 MW project under construction in Madhya Pradesh, and more than 1,000 MW in development stages in six states across the country.
SunEdison intends to place the power plants acquired from Continuum on the operational call rights list for TerraForm Global, an indirect subsidiary of SunEdison headquartered in the US.
In September last year, SunEdison and TerraForm Power announced the interconnection of 50 MW of solar Projects in Britain.
IANS