The US-based solar power major SunEdison, fraught with major debts and having filed for bankruptcy protection, said that the 1.7 GW of solar power projects in India will go on, financing for which will be through balance sheet restructuring and seeking fresh equity.
To facilitate this restructuring, SunEdison and certain of its domestic and international subsidiaries have filed voluntary petitions for re-organisation under Chapter 11. The company has signed power purchase agreements (PPAs) with Tangedco, Andhra Pradesh and Telangana.
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