Indian green energy company Greenko Energy Holdings has completed its acquisition of solar and wind projects in India from bankrupt SunEdison Inc.
Greenko is acquiring 587 megawatts of projects in a deal worth about $392 million. The transaction marks Greenko’s first major venture in the solar PV industry.
Greenko is acquiring 214 MW of operational solar projects, 325 MW of solar projects still in development and 48 MW of wind projects. The company made a $42 million upfront payment for the projects and took on $350 million of SunEdison’s debt.
It was first reported in September that Greenko was seeking to buy the SunEdison projects.
Read more: St. Louis Business Journal