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SunEdison Inc completes acquisition of SRP from AES Corp's subsidiary


Thursday, 3 Jul 2014 07:00am EDT 

SunEdison Inc:Completed its acquisition of a 50 pct ownership stake in Silver Ridge Power LLC (SRP) from a subsidiary of AES Corp for about $178.6 million in cash.Through its ownership in the SRP joint venture, SunEdison now owns a 50 pct interest in - 336 MW of solar power plant operating projects, including the 266 MW Mt. Signal solar project in California.A 40 pct interest in the Tenaska Imperial Solar Energy Center West 183 MW solar power facility to be completed in 2016.The other 50 pct of the outstanding limited liability company interests of SRP remain held by an affiliate of Riverstone Holdings LLC.SunEdison will provide operations and management (O&M) and asset management for SRP's entire projects portfolio. 

Company Quote

19.35
-1.05 -5.15%
11:54am EDT