Bankrupt renewable energy company SunEdison Inc. has reached a deal with a spinoff company that helps clear the way for a $150 million sale of its solar materials business to a Chinese buyer, Reuters reported yesterday. Chinese solar equipment maker GCL-Poly Energy Holdings Ltd agreed to buy the business in August, part of SunEdison's drive to shed assets to raise money to repay its creditors. The sale ran into trouble due to an objection from SunEdison Semiconductor, which was spun off by SunEdison in 2014. The spin-off company argued in an October court filing that it had not consented to transfer of intellectual property licenses as part of the deal. SunEdison has resolved that objection to help close the sale and will extend a services agreement with its affiliate through September at reduced rates.
