SunEdison has signed an agreement to acquire a 60% stake in 48.5 megawatts of solar and wind energy projects in South Africa from BioTherm Energy.
Financial details of the agreement were not disclosed. The two solar and one wind projects have 20-year power-purchase agreement with South African state-owned utility Eskom Holdings.
The deal requires approval from South Africa’s Department of Energy. BioTherm is backed by utilities focused global equity firm Denham Capital.
Under the agreement, SunEdison will assume management responsibilities for the projects one year after the transaction closing date.