SunEdison, a solar technology manufacturer and provider of solar energy services, closed on financing for two solar power plants to be built in Ontario, Canada.
Deutsche Bank Securities is providing construction financing. The plants will provide employment for skilled manufacturing and construction workers in Ontario.
SunEdison, a solar technology manufacturer and provider of solar energy services, closed on financing for two solar power plants to be built in Ontario, Canada.
Deutsche Bank Securities is providing construction financing. The plants will provide employment for skilled manufacturing and construction workers in Ontario.
SunEdison will manage the construction of the two plants, which are both planned to be operational by the end of 2014. The solar power plants will be composed of over 100,000 SunEdison Silvantis Photovoltaic Solar Modules, which will be manufactured in the province of Ontario.
Silvantis Modules are built using SunEdison polysilicon and wafers to ensure maximum reliability and performance. Once operational, the plants will be managed by the SunEdison Renewable Operation Center (ROC), which provides global 24/7 asset management, monitoring, field dispatch and reporting services.
To date, SunEdison has raised more than $6 billion in capital to fund renewable energy project development globally. The company relies on its financial expertise as a key element of its ongoing efforts to further reduce the cost of building solar power plants. SunEdison’s relationship with Deutsche Bank is a key element of this effort.
According to the U.S. Environmental Protection Agency Greenhouse Gas Equivalencies Calculator, the two plants will offset the CO2 emissions of over 15.5 million pounds of coal annually. Together they will supply enough clean energy to power 1,300 homes each year.
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