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"India is a core market for SunEdison and offers growth opportunities in wind and solar energy," said Ahmad Chatila, SunEdison p resident and chief executive officer. "With the acquisition of Continuum, a leading wind energy company in India, we have added significant assets and a skilled wind development team to drive further growth in our renewable energy development platform. This acquisition reinforces SunEdison's commitment to India and will drive immediate shareholder value."
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SunEdison intends to place the power plants acquired from Continuum on the operational call rights list for TerraForm Global. Operation and maintenance of the wind power plants will be performed by SunEdison Services, which provides global 24/7 asset management, monitoring and reporting services.
"We are excited to join SunEdison at this time of rapid growth in India's renewable energy market," said Arvind Bansal, chief executive officer of Continuum. "SunEdison's strong global financial capabilities and talented local team here in India position us to capture the incredible business opportunity in this dynamic market."