Greenko acquires SunEdison’s India portfolio claims Mercom

Share on facebook
Share on twitter
Share on linkedin
Share on reddit
Share on email
Image credit: Flickr/American Centre Mumbai

Greenko Energy Holdings (Greenko) has completed its acquisition of SunEdison’s 587MW Indian solar and wind portfolio for US$392 million, according to consultancy firm Mercom Capital Group.

The portfolio includes 214MW of operational solar plants, 325MW in various stages of development and 900MW of projects not yet in the pre-construction phase, which Greenko might choose to develop going forward. Projects are located across Tamil Nadu, Karnataka, Telangana, Andhra Pradesh and a 1MW rooftop PV project in Uttar Pradesh. There are also 48MW of wind projects.

The acquisition involved a cash payment of US$42 million and project-level debt of US$350 million with an average interest rate of 11.3%.

Amplus Energy has already acquired 5MW of SunEdison's commercial rooftop projects in operation or under development, while SunEdison’s yieldco TerraForm Global has acquired 177MW of operational PV projects.

The Greenko acquisition of SunEdison is the second largest Indian solar project pipeline acquisition this year, after Tata Power’s acquisition of Welspun Renewable Energy’s 1.14GW renewables portfolio for US$1.4billion. 

Read Next

April 13, 2021
US independent power producer Catalyze has expanded its project pipeline to more than 2GW through the acquisition of commercial and industrial (C&I) solar developer PermaCity.
PV Tech Premium
April 8, 2021
After a challenging year, India’s solar sector stands primed for something of a rebound. But a host of familiar issues, from the perilous state of DISCOMs to regulatory uncertainty, run the risk of stymying future growth. Vinay Rustagi, managing director at consultancy Bridge to India, talks to PV Tech about the future prospects for Indian solar.
April 8, 2021
Tata Power Solar has expanded its PV manufacturing facility in Bengaluru, India, taking the total production capacity of modules and cells to 1.1GW.
April 1, 2021
Norwegian independent power producer Scatec is looking to collaborate with project developers in India as part of efforts to gain a foothold in the country’s burgeoning solar sector.
PV Tech Premium
March 26, 2021
Solar developers have welcomed clarification on India’s new import duties for modules and cells that will come into effect next year, but questions have been raised about the ability of domestic manufacturers to ramp up production to meet rising demand.
March 23, 2021
Scatec has unveiled a NOK 100 billion (US$11.7 billion) plan that will see the company expand its renewables portfolio to 15GW over the next four years.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
April 20, 2021
Upcoming Webinars
April 28, 2021
4:00 - 4:30 PM CET
Solar Media Events
May 11, 2021