The deal comes as the company is looking to expand its renewable energy business in a bid to increase corporate value.
The company will be acquiring 100% of SunEdison Japan Corporation (SEJ), SunEdison Japan Debt Financing (SEDF) and SunEdison TK Investor 1 (SETK), as part of a sale and purchase agreement with SunEdison International and SunEdison Energy Holding (Singapore), DealStreetAsia reported.
The companies being acquired own solar power plants totaling 198MW which include 13MW of operational generation capacity, 27MW of projects under construction and 158MW of capacity under development.
The acquisition is anticipated to increase BCPG’s solar power generating capacity from current 180MW to 410MW.
BCP president Chaiwat Kovavisarach was quoted by DealStreetAsia as saying: "This is our significant step to become a leading renewable energy firm in Asia. Also, this acquisition is a shortcut to drive BCPG’s growth and get it ready to raise funds on the stock exchange this year."
SunEdison recently announced plans to reduce its workforce by 15%, as part of a restructuring plan. It also plans to simplify its business structure by removing duplicative activities created as a result of recent M&A activities and business growth.
In October last year, SunEdison announced a global initiative to focus on core, high profit-potential markets such as the US, India, China and Latin America.
Image: The acquisition is expected to increase BCPG’s solar power generating capacity to 410MW. Photo: courtesy of dan / FreeDigitalPhotos.net.
