SunEdison Closes US$314 million (R2.6 Billion) in Funding for 58 MW (AC) in South Africa Solar Projects

 SunEdison Closes US$314 million (R2.6 Billion) in Funding for 58 MW (AC) in
                         South Africa Solar Projects

Projects in Limpopo Province to Create Local Jobs and Sustainable Energy to
Provide Long-Term Economic Support to Region

PR Newswire

JOHANNESBURG and BELMONT, Calif., Nov. 28, 2012

JOHANNESBURG and BELMONT, Calif., Nov. 28, 2012 /PRNewswire/ --SunEdison, a
leading worldwide solar energy services provider and subsidiary of MEMC
Electronic Materials (NYSE: WFR), in partnership with Chint Solar, the Public
Investment Corporation, and the Kurisani Youth Development Trust, today
announced that it has closed US$314 million (R2.6 Billion) in long-term debt
and equity financing for two utility solar projects in Limpopo Province, South
Africa. Standard Bank and Futuregrowth Asset Management are the two senior
debt providers supporting both projects.

The two projects total 58 megawatts MW (AC).Witkop Solar Park (30 MW AC) and
Soutpan Solar Park (28 MW AC) will be the first utility scale solar projects
to be implemented in Limpopo Province. Under the terms of the financing
agreement, power generated from the two facilities will be purchased by Eskom,
the national utility in South Africa, through a 20-year power purchase
agreement (PPA). The Soutpan Solar Park is expected to interconnect in January
of 2014, while the Witkop Solar Park is forecast to interconnect in April of
2014. Construction of both projects is expected to begin in January of 2013.

Prior to committing to the projects in South Africa, SunEdison performed
extensive tests and models to determine the optimal design and projected
output of the facilities. Once the projects are operational, they will be
monitored around the clock by SunEdison's fleet-wide Renewable Operations
Center (ROC). The ROC will leverage the SunEdison Environmental & Energy Data
System (SEEDS) to help maximize the efficiency of the facility by tracking its
actual performance against its predicted output.

"As a world leader in renewable energy, we understand our projects have a
transformational impact on the lives of millions of people. We are delighted
that our investments in South Africa will create employment and stimulate
business investment," said Pashupathy Gopalan, SunEdison Vice President and
Managing Director for South Asia and Sub-Saharan Africa. "The energy delivered
by these projects will sustain economic growth bringing both social and fiscal
benefits. We are committed to this region and will continue to build our local
team moving forward."

Chint Solar is a member of the Chint Group, which manufactures low-voltage
electrical products, as well as solutions for transmission and distribution,
instruments and meters, industry automation and solar energy, and specialised
products for the construction sectors. Dr. Chuan Lu, the Vice President of
Chint Solar, said the projects would help to demonstrate the potential of
solar power to create jobs and stabilise the electricity supply. "South Africa
has higher solar irradiance than other countries which have invested heavily
in solar power, such as Germany. Chint Solar has been continuously keeping its
commitment to developing solar energy around the world. We are confident that
in the years to come, more solar energy projects will be announced, furthering
energy security in the region," Dr. Lu commented.

The Public Investment Corporation (PIC) is one of Africa's largest investment
managers, with assets under management of overUS$130 billion (R1.17
trillion). "The Public Investment Corporation always seeks to invest in
projects that aim to achieve the Government Employee Pension Fund's dual
objective of investing for financial return and for positive social, economic,
and environmental results," said Dr. Dan Matjila, the PIC's Chief Investment
Officer. "PIC is passionate about environmental sustainability and
contributing towards cleaner energy and a greener economy, hence we saw value
in this investment. Over and above that, PIC is pleased that this investment
will contribute immensely to job creation, particularly in Limpopo. The
project is expected to create 318 jobs during construction, and 55 jobs on an
on-going basis, with 44 of those designated for historically disadvantaged
individuals.This investment will stimulate much-needed economic activity,
thus directly contributing to the country's economic development agenda."

Standard Bank, Africa's largest bank by assets, has extensive experience in
financing renewable energy projects. Ziyaad Sarang, Executive, Mining Energy
and Infrastructure at Standard Bank said: "We are delighted with Standard
Bank's involvement as the Mandated Lead Arranger in these deals, which sees
SunEdison, the Chint Group and PIC making investmentsinto South Africa in
renewable energy.This transaction goes to the heart of Standard Bank's core
strategy of encouraging investment in power and infrastructure development in
our home market, Africa, and serves to highlightour commitment to the
continued development of clean energy projects."

Futuregrowth Asset Management, a subsidiary of Old Mutual, overseesUS$13.3
billion (R115 billion)in fixed-income investments. Futuregrowth portfolio
manager Mei-Chi Liou said that the firm is excited about investing in the
renewable energy sector because it will provide South Africa with a
sustainable energy source while offering pension funds access to a new asset
class with good returns. "We applaud the efforts of government and other
involved parties to ensure the economic benefits are spread as widely as
possible within a sound legal framework. We are particularly delighted to
partner with SunEdison and the Chint Group, in a mutually beneficial
relationship that will bring upliftment to the area."

About SunEdison
SunEdison is a global provider of solar-energy services. The company develops
finances, installs and operates distributed power plants using proven
photovoltaic technologies, delivering fully managed, and predictably priced
solar energy services for its commercial, government and utility customers. In
2011 SunEdison interconnected approximately 300 Megawatts of solar throughout
the world. For more information about SunEdison, please visit
http://www.sunedison.com

About MEMC
MEMC is a global leader in semiconductor and solar technology.MEMC has been a
pioneer in the design and development of silicon wafer technologies for over
50 years.With R&D and manufacturing facilities in the U.S., Europe, and Asia,
MEMC enables the next generation of high performance semiconductor devices and
solar cells.Through its SunEdison subsidiary, MEMC is also a developer of
solar power projects and a worldwide leader in solar energy services.MEMC's
common stock is listed on the New York Stock Exchange under the symbol
"WFR."For more information about MEMC, please visit www.memc.com.

About Chint Solar
Chint Solar specializes in cutting-edge research, development and production
of solar modules. The Company has been a trusted provider of PV modules since
its founding in 2006 and it is fully engaged in Solar Energy Development
globally. With support from its parent company Chint Group, Chint Solar has
become a global total solutions provider for photovoltaic systems.

For more information, please visit: www.astronergy.com

About the Public Investment Corporation
The Public Investment Corporation (PIC) is a public asset management firm
wholly owned by the South African government, with the Minister of Finance as
the sole shareholder representative of the government.

PIC's clients are mostly public sector entities including the Government
Employees Pension Fund, which contribute 90% of the funds that PIC manages.
Other clients include Unemployment Insurance Fund, Associated Institutions
Pension Fund, Compensation Commissioner Pension Fund and Compensation
Commissioner Fund.

The PIC owns shares in listed companies and currently controls over 10% of the
Johannesburg Securities Exchange. The PIC is a hybrid of a single asset
manager and a multi-manager with emphasis on providing its clients with value
at a low cost and invests in established names with strong management
requiring little oversight.

The PIC is a world class asset management company, and has been in existence
for more than a century. It is the largest and most successful asset manager
on the African continent with assets under management in excess of R1
trillion.

About Standard Bank South Africa
Standard Bank South Africa is the largest operating entity of Standard Bank
Group, Africa's largest bank by assets.Standard Bank Group had total assets
ofabout US$185 billion (over R1 497-billion)at 31 December 2011. Standard
Bank's market capitalisation at 31 December 2011 wasapproximately US $19
billion (R157 billion).

In South Africa, Standard Bank provides the full spectrum of financial
services. Its Corporate and Investment Banking division serves a wide range of
requirements for banking, finance, trading, investment, risk management and
advisory services. Corporate and Investment Banking division delivers this
comprehensive range of products and services relating to: investment banking;
global markets; global transactional products and services; and private
equity.

About Futuregrowth
Futuregrowth is a specialist investment company which actively manages fixed
interest related investment strategies in a way that sustainably enriches the
lives of our stakeholders.

Managing assets of around R120 billion, Futuregrowth has developed one of the
largest and most experienced teams of investment professionals in the fixed
interest space. The team's specialist skills set, particularly credit
analysis, duration and yield positioning, allows for better risk management
and the ability to deliver value to client portfolios.

With our vision of enriching lives, the company continually strives to
identify opportunities that will deliver economic and social returns that
really matter.

Futuregrowth is a separately operating asset management company under Old
Mutual Investment Group (SA) (OMIGSA).

Forward-Looking Statements
Certain matters discussed in this press release are forward-looking
statements, including that the Soutpan Solar Park is expected to interconnect
in January of 2014, while the Witkop Solar Park is forecast to interconnect in
April of 2014, and that construction of both projects is expected to begin in
January of 2013. Such statements involve certain risks and uncertainties that
could cause actual results to differ materially from those in the
forward-looking statements. Potential risks and uncertainties include normal
commissioning risks attendant to large scale solar projects, delays or
interruptions in construction, deployment or activation; the timely
availability of required permits and authorizations for projects from
governmental entities and third parties; changes in applicable regulatory
requirements and incentives for production of solar power; and general
business and economic conditions, including seasonality of the industry, and
other risks described in MEMC's filings with the United States Securities and
Exchange Commission. These forward-looking statements represent MEMC's
judgment as of the date of this press release. MEMC disclaims, however, any
intent or obligation to update these forward-looking statements.

SOURCE SunEdison

Contact: SunEdison, Dawn Brister, +1-407-414-0526, dbrister@memc.com; Ellojo
Writers for SunEdison South Africa, Jocelyn Newmarch, +27-(0)84-462-1111,
ellojowriters.jocelyn@gmail.com; Elasticity for SunEdison U.S., Aaron Perlut,
+1-314-800-7218, aaron@goelastic.com; Chint Solar, Wanshu Hu, 0086-571-5603
2110, wanshu.hu@astronergy.com; PIC, Nomzamo Petje, Communications Mgr, +27
(0)82 735 6307, Nomzamo.petje@pic.gov.za; Standard Bank Media Relations, Ross
Linstrom, +27-(0)83-262-1882, ross.linstrom@standardbank.co.za; Future Growth
Asset Management, Michele Usher, +27-83-469-5760, musher@futuregrowth.co.za
 
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