The acquisition will allow the California company to expand its commercial/industrial portfolio, while Greenskies receives an infusion of cash.
Canadian Solar Inc. has received a proposal from Chairman, President and CEO Dr. Shawn Qu, under which he offers $18.47 per share. The move would follow that of Trina and JA Solar.
The southern power giant now has full ownership of the nation’s third-largest C&I solar developer.
Reports from the company’s bankruptcy filings indicate conversations with multiple companies that could potentially acquire the bankrupt cell and module maker.
Settlement of securities lawsuits is the final step before the Canadian asset manager can consummate the acquisition of the second of SunEdison’s former yieldcos.
The power giant’s money needs include funds to complete the troubled Vogtle nuclear project, and is looking to sell a 1/3 share in up to 1.7 GW of solar assets that it owns.
The Canadian asset manager has officially taken over one of SunEdison’s yieldcos, as TerraForm Global sets a date for a shareholder vote on its acquisition.
The two companies which recently merged under the Sungevity brand area each snatching up smaller solar companies, which could presage a move into big-box superstores.
The merger of Solar Spectrum and Horizon Solar Power is expected to create the nation’s fourth-largest residential solar installer.
The thin film maker is unloading projects to third parties as it increasingly focuses on module manufacturing.
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