On Thursday, SunEdison has already filed bankruptcy protection after quick big growth after placing its Texas solar and wind power plans in doubt. The U.S. solar company still considers pushing to develop solar projects in India, seeking partnerships.
SunEdison which is based in Missouri has projects 550 megawatts of under construction in India as part of a 1.7GW pipeline of projects planning to build and develop in the coming next two years, as reported by Bloomberg.
"Everyone in India has been partnering for equity," SunEdison Asia-Pacific President Pashupathy Gopalan said in an interview. "We didn't do that in the past, so now we have to do that. We have to learn from our peers and do what others have already done."
As Texas leads the nation in wind power, the Lone Star State has just started to spread its solar power. The country has almost 300MW of installed solar power but is arranged to grow to more than 1,800MW by the end of the year. The frequency of cheap natural gas in Texas makes it difficult for renewable power to contend without federal incentives.
Another project called Panhandle is a 500MW South Plains Wind Farm in Floyd County near Lubbock is occurring and expected to be finished this year, however, its future is uncertain after the bankruptcy filing including other two SunEdison solar farms in West Texas which are also scheduled to be completed this year, according to the Houston Chronicle report.
Although SunEdison already filed Chapter 11, it still has plans of continuing its solar business by seeking equity partners for its SunEdison India. India comprised firth of SunEdison's total business and its largest market overseas, as reported by Yahoo Finance.
SunEdison's bankruptcy filing follows the shattering of $2.2 billion acquisition of Vivint Solar which a rooftop solar company in Utah. For months, the buying spree was widely denounced by capitalists deploring SunEdison's debt levels after conducting too many acquisitions.
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