SunEdison To Acquire GME, Strengthening Renewables Position In Central America

Posted by SI Staff on June 16, 2015 No Comments
Categories : New & Noteworthy

SunEdison Inc. has signed a definitive agreement to acquire 100% of Costa Rica-based Globeleq Mesoamerica Energy (GME).

SunEdison will acquire a 70% interest in GME from Actis and a 30% interest from Mesoamerica Power Ltd.

Through the acquisition, SunEdison will acquire GME's development and asset management platform, which includes four operating wind power plants with a capacity of 243 MW and a solar power plant with a capacity of 82 MW. The portfolio is located in Costa Rica, Honduras and Nicaragua. The acquisition also includes a pipeline of wind projects under development throughout Central America.

All of the operational and construction assets are contracted under long-term U.S. dollar-denominated power purchase agreements with local utilities or suppliers.

‘The acquisition of GME strengthens SunEdison's leadership position in the global wind energy market and significantly expands our presence in Central America, a region that offers growth opportunities for our emerging markets development platform,’ says Ahmad Chatila, SunEdison president and CEO.

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