Lenders of SunEdison Inc., which has plunged into bankruptcy, are expected to complete the sale of its Indian assets in a month.
Indicating this Pashupathy Gopalan, Managing Director and President (Asia Pacific), SunEdison, said the process had already been initiated with the sale of its roof-top projects to Amplus Energy Private Ltd. “This (the sale) is an insignificant portion of our business,’’ he said.
Ever since the filing of bankruptcy petition, the lenders had become the deciding authority, he added. To a question, he said the sale could be to a single bidder or the business could be sold in piecemeal.
The `quit India’ decision was basically that of the lenders, he added. Mr. Gopalan said there was tremendous interest for its Indian assets as SunEdision “has built a solid reputation as a leader in the solar field.’’
He regretted that SunEdison, once a darling of Wall Street, went into trouble at a time when the solar industry was doing well in India.
