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SoCore Energy to acquire 22 SunEdison community PV projects

Edison International subsidiary SoCore Energy has won bankruptcy court approval to acquire equity interests in 22 community PV projects in Minnesota for $79.8m from SunEdison.

The projects have up to 140MW total combined nameplate generation potential, with construction of several due to begin as early as next quarter, according to SoCore Energy.

It is targeting completion of all project development and construction in 2017 using third-party tax equity and debt financing.

“We are excited to incorporate these high-quality projects into our development portfolio of assets in Minnesota,” said Robert Scheuermann, president of SoCore Energy.

The company offers commercial and industrial companies, electric cooperatives and communities portfolio-wide solar solutions that provide energy cost savings and carbon reduction opportunities.

SunEdison, which filed for Chapter 11 bankruptcy protection in April, had been selling assets under the supervision of the US Bankruptcy Court for the Southern District of New York.

Earlier this month, NRG won an auction for 2.13GW of utility-scale solar and wind assets in the US held SunEdison.In late August, GCL-Poly Energy conditionally agreed to buy SunEdison’s polysilicon and ingot production assets for $150m.

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