SunEdison Reportedly Plans To Invest $15 Bln In India By 2022

(RTTNews) - SunEdison Inc. (SUNE) plans to invest $15 billion in India by 2022, as the renewable-energy company seeks to deepen in its foothold in a country where power producers have struggled to meet demand, the Wall Street Journal reported citing a top executive as saying.

SunEdison intends to develop solar and wind projects with a total power-generation capacity of 15 gigawatts.

India wants to expand its power-generating capacity by 50% and increase the amount of electricity it gets from solar, wind and other renewable resources.

The report said that SunEdison is also expanding into wind power. The company expects to meet its 15 gigawatt India production target by building plants and acquiring existing generating capacity.