Renewable energy giant SunEdison, which filed for protection from creditors in the US in late April, is close to an agreement with domestic wind energy major Sitec RE to sell a 24 MW wind-power plant in Andhra Pradesh . This is the first asset sale by SunEdison in India since the bankruptcy threat arose.
“The details are being worked out and the deal will probably be closed in a week or ten days,” said CD Singh, chief operating officer at Sitec RE, confirming the deal. While Singh was unwilling to discuss the details, a person close to the matter revealed the location and size of the plant being sold. Financial terms weren’t available. SunEdison Asia-Pacific President Pashupathy Gopalan didn’t respond to phone calls, text messages and an email. The project has room for another 50MW and is likely to be expanded by Sitec RE .