Greenko to pay USD-100m premium for SunEdison India assets – report

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August 8 (SeeNews) – Greenko Energy Holdings is expected to pay a premium of less than USD 100 million (EUR 90.2m) if it strikes a deal for the Indian assets of bankrupt US firm SunEdison (OTCMKTS:SUNEQ), the Economic Times reports.

Apart from making a cash payment, the unit of Indian clean power producer Greenko Group Plc (LON:GKO) will also assume the outstanding debt in India of both SunEdison and its yieldco TerraForm Global (NASDAQ:GLBL), according to the report, which quotes a source involved in the negotiation.

The transaction will include assets held by the yieldco, which, meanwhile, is suing its parent for improving its balance sheet with cash that should have been used for projects in India.

Last week, the Hindu Business Line reported that Greenko Energy Holdings was to conclude in a fortnight a deal to buy the assets. Their total cost is calculated at about USD 1.2 billion, the Economic Times said.

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