SunEdison receives $50m funding to construct solar PV plants in US

SunEdison, a subsidiary of MEMC Electronic Materials, has won a three-year, $50m construction loan from Rabobank International to build solar power plants in the US.

SunEdison, a subsidiary of MEMC Electronic Materials, has won a three-year, $50m construction loan from Rabobank International to build solar power plants in the US.


The funding will be used by SunEdison to finance construction of PV power plants at client (host) locations, allowing solar hosts to buy the energy produced at prices at or below retail rates upon project completion, avoiding upfront costs associated with solar installation.

The $50m construction revolver is expected to expand over the life of the deal for US projects ranging in size from small commercial to utility scale with the addition of more lenders, thereby enhancing SunEdison's ability to execute on its pipeline of solar projects.

SunEdison vice president of project finance and corporate development William Lee said that with close to 250MW of solar deployed worldwide, SunEdison has the experience and know-how that project investors and customers trust.

"SunEdison looks forward to working with Rabobank as we continue to make solar a reality for our customers across the nation," Lee said.

Featured Product

TRA SNOW AND SUN - SOLAR TILE MOUNT

TRA SNOW AND SUN - SOLAR TILE MOUNT

You haven't installed a tile mount that is easier to install than the Solar Tile Mount manufactured by TRA Snow and Sun. Solar Tile Mount is used on all tile roof profiles: flat, mid, and high. It is made in the USA of aluminum alloy for strength and excellent corrosion resistance. Solar Tile Mount is built to allow more ease in installation with more rise from the tile surface to the rail for better air flow below panels. The adjustable base is longer than most allowing attachment 6" to the left or right to have the bracket in the base of the pan of the tile and still fasten to the rafter. Solar Tile Mount is adjustable for counter batten systems from ¾" to 3". The horizontal rail is directly above base fasteners giving greater uplift resistance than any other system. For superior waterproofing apply TRA Snow and Sun's butyl backed VersaFlash aluminum flashing. No tile flashing is needed on top of the tile for greater labor and material cost savings.