SunEdison’s Chapter 11 bankruptcy, under which the company is allowed to reorganize, is looking more like a file sale under new CEO and career restructuring consultant John S. Dubel.
Last week the carving up of the world’s largest renewable energy developer continued with a bankruptcy court approving a private sale of SunEdison’s Australian business and a portion of its global channel sales business to California’s Flextronics.
SunEdison’s channel business sells PV systems and equipment to residential and commercial customers in the United States, EU, Latin America and Australia. The assets purchased consist of contracts, intellectual property, equipment and inventory used int he business.”
Flextronics currently manufactures PV modules for SunEdison, as well as manufacturing batteries for an Australian company.
RenewEconomy had previously reported the value of the sale at $8.7 million, which would make it one of the smaller portions of SunEdison’s empire on the auction block. Tomorrow a bankruptcy court will decide whether or not to approve a schedule for the sale of 2.1 GW of solar and wind projects to NRG.
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