Suzlon sued Big Sky Wind LLC, the entity owned by Edison Mission, in 2012 seeking early repayment of the loan, according to an SEC filing by Edison Mission. Big Sky countersued, and the litigation still is pending. But that lawsuit quickly was overshadowed by the Chapter 11 bankruptcy petition filed in December 2012 by Edison Mission.
“If a restructuring of the loan or a sale effort is unsuccessful, Suzlon may foreclose on the project resulting in a write-off of the entire investment in the project,” the Edison Mission filing states.
As of Sept. 30, Edison Mission's investment in Big Sky totaled $451 million in assets and $369 million in liabilities, according to the filing.
Ms. Denning said she's confident Big Sky will continue operating, even if Suzlon takes ownership in lieu of collecting the $200 million-plus it's owed.
“It's a great wind farm,” she said. "It operates super well.”
Read the entire story by clicking on the following: Suzlon Group could take over Big Sky wind farm in Illinois - Utilities News - Crain's Chicago Business
