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SunEdison, which went through rapid expansion, declared bankruptcy in April 2016. Its assets have been reorganized and it's confirmed that 1.5GW of SunEdison installations have been acquired by another clean energy company, NRG.
PV Tech reported that NRG announced the completion of its acquisition of SunEdison’s 1.5GW wind and PV projects on November 23rd 2016. The projects acquired are either completed or in varying stages of development across the United States. As part of a separate deal with SunEdison, NRG also closed on the acquisition of 29MW of distributed generation and community solar projects that are under development across 26 sites in several states.
Together, the acquisitions will help NRG increase the capabilities of its cross-functional platform into many markets that it already serves, such as California, Texas and Massachusetts. The deal will also allow NRG to enter into new markets for utility-scale solar projects, including Hawaii and Utah. Nearly 265MW of the portfolio is now online and operational, increasing the NRG operating renewables portfolio to nearly 4.7GW across 26 states.
