Suzlon seals Big Sky acquisition
Indian wind group Suzlon has completed the purchase of the 240MW Big Sky wind farm in the US – a project it apparently plans to sell almost instantly in a bid to recover some value from the bankruptcy of the plant’s developer.
Suzlon told investors in India earlier today in a brief statement that its US subsidiary SWECO had acquired the plant from Edison Mission Energy (EME).
The statement notes that Suzlon was “pleased to have worked with our long-time customer Edison Mission on this transaction”.
Suzlon has spent more than a year trying to recover over $200m it advanced to the now-bankrupt EME to buy its turbines for Big Sky.
As Recharge reported in February, the Indian wind group set out a plan to the US Federal Energy Regulatory Commission (FERC) that would see it swiftly sell the project onwards to developer EverPower.
Today a spokesman for Suzlon had no comment on its plans for Big Sky, beyond saying that “we are confident can generate cash”.