
SunEdison has signed a deal to acquire renewable energy firm Globeleq Mesoamerica Energy (GME), which is jointly owned by Actis and Mesoamerica Power with 70% and 30% stakes, respectively.
GME’s assets include 243MW AC wind farms and 82MW DC solar power station in Costa Rica, Honduras and Nicaragua.
The company’s under construction 80MW AC wind farms in Costa Rica and a 246MW AC wind projects across Central America are also included in the transaction.
All of these assets are supported by long-term power purchase agreements (PPAs) with local utilities or suppliers.
SunEdison president and CEO Ahmad Chatila said: "The acquisition of GME strengthens SunEdison’s leadership position in the global wind energy market and significantly expands our presence in Central America, a region that offers growth opportunities for our emerging markets development platform."
SunEdison has agreed to acquire Continuum Wind Energy, which owns and operates 242MW AC wind power plants in the Indian states of Maharashtra and Gujarat, and 170MW wind facility under construction in Madhya Pradesh state.
Continuum Wind is working on more than 1,000MW wind projects across six Indian states.
"With the acquisition of Continuum, a leading wind energy company in India, we have added significant assets and a skilled wind development team to drive further growth in our renewable energy development platform," Chatila noted.
Subject to regulatory approvals, third-party consents and customary closing conditions, the two transactions are expected to be completed in the third quarter.
SunEdison said it will place the acquired wind and solar assets on the operational call rights list for TerraForm Global.
Image: The acquisitions will add 2,000MW to SunEdison’s power assets. Photo: courtesy of dan / FreeDigitalPhotos.net.