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SunEdison agrees to buy Globeleq Mesoamerica Energy

CTBR Staff Writer Published 17 June 2015

SunEdison has agreed to acquire Globeleq Mesoamerica Energy (GME) from Actis and Mesoamerica Power.

Solar wind

Actis owns a 70% stake in GME, while the remaining 30% is held by Mesoamerica Power.

GME's development and asset management platform includes a portfolio featuring four operating wind power plants with a 243MW capacity.

The company also has a 82MW DC solar power plant in Costa Rica, Honduras and Nicaragua; 80MW AC of wind farms entering construction in Costa Rica.

A pipeline of 246MW AC of wind farms are under development in several countries throughout Central America.

The operational and construction facilities have power purchase agreements with local utilities or suppliers.

The transaction, which is expected to be completed in the third quarter of 2015, is subject to regulatory approvals, third-party consents and customary closing conditions.

GME chief executive officer Jay Gallegos said: "SunEdison's world class development and global financial capabilities will enable us to aggressively grow our business."

SunEdison president and chief executive officer 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."

Apart from GME, SunEdison has also agreed to acquire India-focused renewable energy generation group, Continuum Wind Energy.

Continuum owns and operates 242MW AC of wind power plants in the Indian states of Maharashtra and Gujarat, as well as 170MW of wind power under construction in Madhya Pradesh.

It also has over 1GW of wind power plants in development across six states in India.

Image: GME' portfolio includes four operating wind power plants with a 243MW capacity and a 82MW DC solar power plant in Costa Rica. Photo: courtesy of satit_srihin/FreeDigitalPhotos.net.