SunEdison has settled its dispute with Latin America Power (LAP) for US$28.5 million. The planned acquisition has now been cancelled.
A statement by SunEdison confirmed that upon payment, the arbitration process between the two will end and the case at the New York court will be dismissed.
SunEdison pulled out of the planned acquisition in October 2015 telling PV Tech at the time that LAP had failed to meet all the necessary conditions. The deal was to include 613MW of solar, wind and hydro in Chile and was worth US$700 million.