International Finance Corporation is seeking to commit a total of $55 million to a new solar power development company.
International Finance Corporation (IFC) is seeking to commit a total of $55 million to a new solar power development company, Green Technology World reports. IFC will take up to a 15% equity stake in the development, which is sponsored by SunEdison.
The transaction will value the company at around $366 million. The solar power development company has a pipeline of grid-tied solar PV projects in India and Thailand and plans to expand across South and South-East Asia.