SunEdison to sell US$ 8.7 million assets to Flex

SunEdison to sell US$ 8.7 million assets to Flex

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EMS-giant Flex (previously Flextronics) will pay US$ 8.7 million to the bankrupt solar firm SunEdison for some of its assets, both parts revealed in a statement this week.

The company, which filed for Chapter 11 in April 2016, already works with Flex, which makes solar modules for SunEdison on its Ciudad Juarez plant. However, the sale is subject to court approval.

Additionally SunEdison is looking into selling interests in its two yieldcos TerraForm Power Inc and TerraForm Global Inc.

A regulatory filing noted that SunEdison was "to explore value creation options for SunEdison's controlling Class B shares in both companies. This initiative will be conducted through a jointly managed sales process and accompanying marketing protocol".

John S. Dubel, CEO of SunEdison, said: "This is a collaborative undertaking, marking the next step in SunEdison's chapter 11 process as we explore restructuring options including whether to monetize our interests in TerraForm Power and TerraForm Global."