SunEdison plans to acquire two renewable companies for $21.2 Million

SunEdison Infrastructure Limited plans to acquire Megamic Electronics Private Limited and Enrecover Energy Solutions Private Limited, according to a recent corporate filing by the company at the Bombay Stock Exchange. Megamic Electronics Private Limited is involved in the design, development and supply of remote monitoring solutions for solar projects. The acquisition is pegged at Rs 10 million along with 0.3 per cent equity shares of SunEdison in exchange for a 51 per cent stake in Megamic Electronics. Enrecover Energy Solutions Private Limited manufactures organic rankine cycle systems for heat recovery and power generation from geothermal resources, biomass resources, solar resources and waste streams. The financial consideration for this acquisition is approximately Rs 11.2 million for a 51 per cent stake.

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