GCL-Poly Energy to Bid for SunEdison’s Solar Material Assets for US$150 Million

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The Hong Kong listed GCL-Poly Energy Holdings Ltd, has agreed to buy solar material assets of SunEdison, the bankrupt US renewable energy company, for US$150 million. This acquisition includes SunEdison’s subsidiaries, such as SunEdison Products Singapore Pte., MEMC Pasadena Inc. and Solaicx Inc., as well as SunEdison’s stake in a Korean joint venture, SMP Ltd. The acquisition excludes MEMC’s manufacturing facility in Pasadena, Texas. The sale of SunEdison’s solar materials business is the latest in a series of deals designed to raise money for creditors.

Read full news: http://www.researz.com/gcl-poly-energy-bid-sunedisons-solar-material-assets-us150-million

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