Shadow over SunEdison India’s solar projects
US-based renewable energy company Sun Edison, battling to pare its $11-billion debt, is not finding buyers for its projects in India.A deal to sell its 1,480 MW Indian portfolio to Macquarie Capital has fallen through. This is likely to hit the valuation of the projects, estimated by the market at Rs 7,600 crore.Adani Power and Tata Power were in discussions with Sun Edison to buy the projects, sources said. Adani Power did not respond to queries from Business Standard.he spokesperson of Tata Power stated, “The company does not respond to market speculations. We maintain that we are evaluating various options to create shareholder value.”Sun Edison’s portfolio includes 410 Mw of operational solar power projects, 80 MW of operational wind projects and 1,000 Mw of recently-won solar power projects, including a 500 MWproject in Andhra Pradesh that the company won at a historic low bid of Rs 4.63 per unit.Market sources said some global funds were interested but no one would buy Sun Edison’s entire Indian portfolio. Apart from the commissioned projects, those under development are also on the block.