Monday, October 17, 2011
SunEdison raises $300 million USD for North American solar PV projects
To support the construction costs of utility and rooftop solar PV projects throughout the United States and Canada, SunEdison, the solar energy subsidiary of MEMC Electronic Materials, Inc., has arranged for a three-year, $300 million USD revolving credit facility with Deutsche Bank Securities, Inc. and Rabobank. SunEdison described the arrangement as one of the largest non-recourse project financing revolving credit facilities ever issued for solar PV projects. Currently, SunEdison has more than 500 solar PV energy systems deployed throughout the United States and Canada and 330 MW of installed solar PV capacity. The company said that it is continuing to look for additional banking partners to finance its pipeline of projects.