Greenko eyes $1 billion Sun Edison assets
Greenko Energy is snapping up the Indian assets of the tottering renewables giant Sun Edison in a deal worth about one billion dollar. It will be supported by its existing shareholders GIC of Singapore and Abu Dhabi Investment Authority in acquiring the 1000 MW solar assets.
The acquisition will be the most ambitious move by Greenko, which carried a two billion dollar enterprise valuation during a fund raise from Abu Dhabi earlier this year.
Officials from Greenko have met the chief restructuring officer of Sun Edison and both parties have agreed in principle to take the transaction forward.