29 Dec '14, 10am

SunEdison, TerraForm Power secure USD 175 million financing for PV projects #solar

SunEdison Inc. (Belmont, California, US) on December 23rd , 2014 announced an agreement with JPM Capital Corporation (Chicago, Illinois, US) whereby they will invest up to USD 75 million in a USD 175 million solar energy development fund. SunEdison subsidiary TerraForm Power Inc. will also invest USD 100 million in the fund, and will use the financing to purchase up to 60 megawatts of solar photovoltaic (PV) projects that SunEdison will develop and construct in 2014 and 2015. "Putting together a fund with an investment commitment from JPM Capital, one of the world's leading tax equity investors in renewable energy projects, is an important milestone not only for our company, but for the solar industry as a whole," said Ryan Bennett, vice-president of project finance, North America at SunEdison. One of the largest solar funds in 2014 The funding enables SunEdison to continu...

Full article: http://www.solarserver.com/solar-magazine/solar-news/curr...

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