SunEdison Inc., the best-performing U.S. solar company, is acquiring a 60 percent stake in 48.5 megawatts of clean-energy capacity in South Africa from BioTherm Energy Pty Ltd.
The plants, two solar and one wind, are selling electricity to state-owned Eskom Holdings SOC Ltd. under contracts with about 19 years remaining, according to an e-mailed statement Tuesday. The purchase from Denham Capital Management LP-backed BioTherm is expected to close “in the near future” after a review by the country’s energy department. Terms weren’t disclosed.
SunEdison will take over managing the 27-megawatt Dassiesklip wind farm and the Konkoonsies and Aries solar farms, each of which generate about 10.8 megawatts, a year after the deal closes. The projects all became operational in the first half of last year.
SunEdison has gained about 55 percent over the past year, the most of any U.S. company on the 21-member Bloomberg Intelligence Global Large Solar Energy Index.