US manufacturer buys Australia’s SunEdison business
The Australian division of SunEdison has been sold to US-based Flextronics – a company that manufactures solar modules and battery storage equipment.
Flextronics will pay $US8.7 million ($A11.6 million) for the assets, which include the Australian business as well as residential solar businesses in the US and other countries.
SunEdison's businesses have been for sale since its parent company filed for chapter 11 bankruptcy protection in April after failing to manage a period of very rapid expansion.
There are rumors that the renewable energy providers business will return to the Energy Matter brand; it currently employs 70 people in Australia and ranks in the top 10 installers of rooftop solar in the country. The purchase continues a recent trend where major internationals buy outright, or significant stakes in, Australian solar installer and solar wholesalers.
The world’s biggest poly-silicon company, GCL Poly, recently bought a WA business 1Stop Warehouse, while Chinese company SPI bough Solar Warehouse for $25 million.