TerraForm Global Won’t Block SunEdison’s Sales in India, Uruguay

TerraForm Global Inc., a clean-energy holding company controlled by bankrupt SunEdison Inc., agreed not to hinder its parent company’s plans to sell assets in India and Uruguay.

SunEdison has reached a deal with an unidentified buyer for the assets, according to a TerraForm Global statement Tuesday. TerraForm Global will receive a portion of the proceeds that won’t exceed $10 million.

The sale includes a solar farm in India and assets in Uruguay that had been committed to be transferred to TerraForm Global, transactions that weren’t completed before SunEdison filed for bankruptcy in April.

The deal also includes a portfolio of 425 megawatts of solar projects in India for which TerraForm Global made a prepayment to SunEdison in the fourth quarter of 2015.

Link to Statement:Link

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