Solar energy services provider and manufacturer of solar technology SunEdison, Inc. is now the owner of half of Silver Ridge Power, LLC at the cost of around $179m.
The other 50% is still owned by Riverstone Holdings LLC, but SunEdison is in charge of asset management and operations for the former company's portfolio.
SunEdison is planning to buy out Riverstone Holding's claim to the Tenaska Imperial Energy Center West, a project in which it currently owns only 40%, after its completion in 2016. SunEdison CEO Ahmad Chatila expressed that he is excited to have half ownership of Silver Ridge Power and work with Riverstone Holdings in order to get the most out of what the former business has to offer.
Located in Maryland Heights, SunEdison develops and manufactures leading solar technology and then takes charge of implementing it into both residential and commercial properties. This includes non-stop reporting and analysis of solar energy usage around the globe, as the group has branches on five continents.
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