The International Finance Corp. (IFC) will invest in $14.5 million towards 15% stake in two holding companies of solar power plant operator SunEdison.
"The investment could go up to $55 million over a period of two years if certain conditions are met. The IFC will be picking up 15 percent stake each in SunEdison energy Holding (Singapore) Private Ltd. and Sun Edison Energy Holdings B.V. Netherlands," Pasupathy Gopalan, managing director, SunEdison (South Asia and Sub-Saharan Africa Operations).
The IFC investment in two holding companies of SunEdison is towards support the growth, development, and construction of SunEdison’s PV power projects in south Asia, south east Asia, and sub-Saharan Africa. IFC’s Regional Industry Director (Asia – Infrastructure and Natural Resources) Anita Marangoly George said: "We stay invested in a company for around seven to 10 years and the exit route is in initial public offering (IPO)."
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