Afederal bankruptcy judge approved the sale of solar projects inMinnesota to a subsidiary of SoCore Energy LLC for nearly $80 million, Dow Jones Newswiresreported.
JudgeStuart Bernstein in U.S. Bankruptcy Court for the Southern District of New Yorkapproved the sale after a hearing Sept. 22, the news service reported. A courtorder was not immediately available.
SunEdisonasked the judge toapprove the $79.8 million stalking-horse bid by SoCore MN Acquisition LLC afterfailing to attract competing offers. More than two-thirds of the projects inthe 136-MW portfolio are due in operation in the second quarter of 2017.
Theprojects are being developed under Minnesota's in whichratepayers receive credits on their utility bills for subscribing to solarprojects in the state.
SoCoreEnergy is affiliated with EdisonInternational's competitive energy business.