Renewable energy development company SunEdison Inc. (NYSE: SUNE) is buying seven renewable energy projects.
The projects are a mix of wind, hydro and solar operations in Brazil, China, India, Peru, South Africa and Uruguay.
The acquisitions align with SunEdison's goal to move into emerging markets, where "the majority of future global electric power infrastructure investments will be deployed," says Ahmad Chatila, CEO.
In connection with the deal, Blackstone Group, Everstream Opportunities Fund II and Altai Capital Management made a $175 million investment in a SunEdison subsidiary. SunEdison also secured a $362 million bridge loan for emergin market intiatives from JPMorgan Chase Bank, Barclays, Citi and Morgan Stanley.
SunEdison, headquartered in Maryland Heights, Missouri, develops, finances, installs, owns and operates renewable power plants.