SunEdison to acquire Central America's GME

SunEdison Inc., the world's biggest renewable energy development company, signed a definitive agreement on June 12 to acquire 100 percent of Central America's leading renewable energy company, Globeleq Mesoamerica Energy.

"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," SunEdison President and CEO Ahmad Chatila said. "With this acquisition, we not only gain an experienced and talented management team with a proven track record in the region, but also position ourselves to accelerate our performance and deliver attractive returns to our shareholders."

SunEdison will acquire a 70 percent interest in GME from Actis, a global pan-emerging market private equity investor focused on the energy sector, and a 30 percent interest from Mesoamerica Power Limited.

SunEdison will also acquire GME's development and asset management platform: a portfolio containing four operating wind power plants with a capacity of 243 megawatts AC and a solar power plant with a capacity of 82 MW DC, 80 MW AC of wind farms entering construction in Costa Rica and a pipeline of 246 MW AC of wind under development in various countries across Central America.

The agreement is expected to close in the third quarter of 2015, subject to regulatory approvals, third-party consents and customary closing conditions.