SunEdison Seeks Asset Sale to NRG for Some U.S. Wind, Solar Projects
SunEdison Incorporated (Maryland Heights, Missouri) is seeking bankruptcy-court approval to sell a number of North American solar- and wind-power projects to NRG Energy Incorporated (NYSE:NRG) (Princeton, New Jersey) for $144 million, subject to higher bids, according to The Wall Street Journal.
Industrial Info is tracking $5.3 billion in SunEdison projects, located across North and South America, India, Africa and Japan. About $1.12 billion of that total includes those located in states where, according to court papers, assets are up for sale: Utah, California, Maine, Hawaii, Texas and Washington.
According to the Journal, NRG’s bid is valued at $144 million, but could reach $188 million after the sale closes.
The news comes amid an upswing for U.S.-based solar power, with developers planning more than $25 billion in construction starts from now through 2020, according to Industrial Info's North American Industrial Project Database. Those projects that break ground before the end of 2019 are boosted by a 30% investment tax credit (ITC). For more information, see Industrial Info's article U.S. Solar Developers Plan Brisk Pace of Construction Kickoffs.
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