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TerraForm Global gives nod to SunEdison's sale of Indian assets

hascleared the way for SunEdisonInc. to sell certain of its Indian to an unnamed third-party buyer.

As part of the arrangement, the yieldco will not pursueclaims against the buyer relating in any way to the assets included in thetransaction. It expects to receive up to $10 million in cash proceeds from thesale.

However, TerraFormGlobal retained all of its claims against SunEdison and its affiliated persons. TerraForm Global and its sistercompany, TerraForm PowerInc., are intalks with SunEdison to resolve more than $3 billion in claimsagainst the bankrupt renewable energy developer.

The sale is part of the SunEdison bankruptcy process and includes the 425-MW solar portfolio inIndia, for which the yieldcomade a prepayment in the fourth quarter of 2015. The transaction alsoincludes some facilities inUruguay, as well as the Bora Bora project in India, which were earmarked for atransfer to TerraForm Global prior to SunEdison's Chapter 11 filing in April.