At closing, MEMC will pay $112m, plus repayment of about $22.9m in intercompany loans and capital contributions.
The contract also includes an additional deferred payment of about $103.6m that FRV US achieve certain performance targets.
MEMC said the final purchase price is subject to adjustment based on the actual amount of intercompany loans and capital contributions at closing.
The acquisition is expected to close in the third or fourth quarter of this year, subject to customary closing conditions, including the receipt of regulatory approvals.
FRV US’s solar portfolio includes 42MW in operation in the US, including 14MW at Nellis Air Force Base.
Fotowatio Renewable Ventures is a global developer, operator and owner of solar power plants.
