US based solar energy company SunEdison will buy a portfolio of operating solar and wind power plants from BioTherm Energy in South Africa, which have a combined power generation capacity of 48.5MW.
SunEdison will acquire 60% stake in BioTherm’s Round 1 portfolio, which consists of three operating assets.
The acquired assets include two solar power plants having power generating capacity 10.8MW each, located in Konkoonsies and Aries farms, and one 27MW wind power plant in Dassiesklip.
State-owned power utility Eskom Holdings has already signed a 20-year power purchase agreements (PPAs) to take power from these plants with 19 years remaining for the PPA to expire.
The present transaction is subject to review by the Department of Energy of the Republic of South Africa, and certain closing conditions.
BioTherm Energy did not specify a particular date for the closure.
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By GlobalDataSunEdison plans to take over the management of the acquired solar and wind plants, a year after the transaction is closed.
BioTherm said that its other operations, which include development, financing and construction of extensive project across Africa, would continue without any change.
SunEdison on the other hand is expanding its portfolio by acquisition, as it previously announced the acquisition of 757MW of wind, solar and hydropower projects located across Brazil, China, India, Peru, Chile, South Africa and Uruguay.
