The energy giant has put forth the winning bid for SunEdison wind and solar projects at under $0.10 per watt.
The agreement removes a key hurdle to the carving up of SunEdison’s empire.
The changes in terms on notes also include a requirement that companies buying up TerraForm stock take over the notes.
The Chinese polysilicon and PV maker will buy three of SunEdison’s manufacturing businesses involved in polysilicon production up until cell production, amid rumors that it is also planning to make a bid for SunEdison’s controlling stake in TerraForm Power.
A bankruptcy court has approved the expedited auction of SunEdison projects with NRG as the “stalking horse” bidder, and NRG has separately announced the purchase of 26 C&I solar projects.
The contract manufacturer is buying SunEdison’s Australian business and a portion of its global channel business free of liens and claims.
The carving up of SunEdison’s holdings has formally begun.
Chile’s largest mining group is taking the bankrupt renewable energy developer to court, alleging that the Amanecer PV plant is not producing the contracted output.
The renewable energy developer cites its bankruptcy but TerraForm plans to contest the change, and in the interim will pay the interest.
San Diego was forced recently to cancel 65 solar PV projects in its territory that were planned late last year with SunEdison after the developer advised the city that its deadlines would slip.
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