SunEdison secures $537 million of funding for EM-boosting acquisitions

By Lisa Kerner

Charlotte, N.C., May 7 – SunEdison, Inc. announced that Blackstone Group, Everstream Opportunities Fund II and Altai Capital Management have made an investment of $175 million in a SunEdison subsidiary.

Additionally, the company secured a $362 million nonrecourse acquisition facility for emerging market initiatives with JPMorgan Chase Bank, Barclays, Citi and Morgan Stanley, according to a news release.

Proceeds of the acquisition facility are available for the funding of third-party acquisitions of operating renewable energy projects.

SunEdison announced the investments in connection with definitive agreements to acquire five portfolios of renewable energy projects and two corporate platforms, LAP Holding, BV in Latin America and two subsidiaries of Honiton Energy Holding, Ltd., in China.

The acquisitions bolster SunEdison’s emerging markets platform, according to chief executive officer Ahmad Chatila.

SunEdison is a Belmont, Calif.-based solar technology company.

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