Power India found that International Finance Corporation (IFC), is planning to invest around Rs. 750 Million equity to SunEdison along with possible funding of Rs. 2.9 Billion depending upon certain future conditions.
The funds are intended to support the growth,development and construction of SunEdison’s PV power projects in South Asia, South East Asia and sub-Saharan Africa.
The above transaction will take place in a way that, IFC will acquire a 15% stake in SunEdison Energy Holding (Singapore) and Sun Edison Energy Holdings B.V., two holding companies incorporated by SunEdison LLC, in Singapore and the Netherlands, respectively.
As said by Pashupathy Gopalan, SunEdison’s Managing Director, South Asia and sub-Saharan Operations:
“SunEdison recognizes the potential of the South Asian and Sub-Saharan regions for solar power generation and is one of the leading solar energy platforms across the region. Driven by economic growth and an emerging focus on energy security in these regions, countries in the region are assessing and supporting alternative energy sources.
Anita George, IFC Director for Infrastructure in Asia also said:
“IFC is engaging across the entire solar PV supply chain to improve its economics. We are doing this by enabling pioneering projects under new regulatory support schemes and increasing economies of scale in downstream installations.”
No comments:
Post a Comment