ProjectFinance Magazine Awards SunEdison "Latin American Solar Deal Of The
Year" For Its San Andres Project In Chile
Award Recognizes SunEdison's Ability To Develop Innovative Structured Finance
Solutions For Sustainable Energy Projects In Chile And Latin America
BELMONT, Calif., March 17, 2014
BELMONT, Calif., March 17, 2014 /PRNewswire/ -- SunEdison, Inc. (NYSE:SUNE), a
leading solar technology manufacturer and provider of solar energy services,
has been awarded ProjectFinance Magazine's prestigious "Latin America Solar
Deal of the Year" award for its San Andres solar power plant in Chile.
The 50.7 MWp San Andres project is set to become one the largest solar
photovoltaic merchant plant in the world. According to ProjectFinance
Magazine, this is the first merchant solar project in Chile, and the first
fully merchant power project anywhere in Latin America. The plant is designed
to transmit electricity directly to the Central Interconnected System (SIC)
and will sell all of its production in the spot market.
This innovative financing arrangement enabled one of the largest solar PV
projects in Latin America, and marked significant growth for SunEdison and the
region. In November 2013 SunEdison announced the closing of a $100.4 million
non-recourse debt financing arrangement with the Overseas Private Investment
Corporation (OPIC) and the International Finance Corporation (IFC), a member
of the World Bank Group, for the construction of San Andres in the Atacama
region of Chile. OPIC provided U.S. $62.9 million of debt, IFC provided a
parallel loan of U.S. $37.5 million and Rabobank provided a local Chilean Peso
VAT facility for the equivalent of U.S. $25.6 million.
"We are pleased and proud that ProjectFinance honored this unique project with
its award. 'San Andres' represents significant growth for SunEdison and
Chile's PV industry, and significant value creation for SunEdison, our
investors, and our customers in Latin America," said Jose Perez, SunEdison's
President of EMEA and Latin America. "This award emphasizes SunEdison's
ability to develop innovative project finance structures for our solar energy
projects. In 2010 we won this award for our Rovigo solar power plant in
Italy, this year's award holds special meaning for us because it validates our
accomplishments in Latin America."
SunEdison has Interconnected over 1.4 GW (gigawatts) of solar energy
worldwide. Once projects are completed, the SunEdison Renewable Operations
Center provides ongoing operations, 24/7 monitoring and alerting, field
service dispatch and asset management services.
ProjectFinance is a leading source of industry news and in-depth analysis of
benchmark deals in the oil and gas, power, renewables, transport and PPP
sectors, as well as infrastructure funds, project bonds, water, mining,
petrochemicals and telecoms.
SunEdison is a global leader in semiconductor and solar technology.
SunEdison's semiconductor business 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, SunEdison enables the
next generation of high performance semiconductor devices. SunEdison's solar
business develops, finances, installs and operates distributed power plants,
delivering predictably priced solar energy and services for its commercial,
government and utility customers. SunEdison's common stock is listed on the
New York Stock Exchange under the symbol "SUNE." To learn more visit
SOURCE SunEdison, Inc.
Contact: Dawn Brister, SunEdison U.S.A., firstname.lastname@example.org, +1
650-453-5685; or Mark Sutherland, Elasticity for SunEdison,
email@example.com, +1 314-913-0674; or Sebastian Vasquez, b2o (For
SunEdisonChile), firstname.lastname@example.org, (56 2) 29247800; or
Investors/Analysts: Chris Chaney, SunEdison, (636) 474-5226,
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