SunEdison likely sell Andhra wind power plant to Sitec RE – Feedback

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 .

http://economictimes.indiatimes.com/industry/energy/power/sunedison-likely-sell-andhra-wind-power-plant-to-sitec-re/articleshow/52529204.cms

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