Wells Fargo to Fund $100 Million of SunEdison Projects

Wells Fargo & Co. (WFC), the biggest U.S. home lender, will provide more than $100 million in tax-equity financing for solar projects built by SunEdison Inc. (SUNE)

The investments this year and next will help fund the 2.7 gigawatts of projects SunEdison is developing, the St. Peters, Missouri-based solar company said today in a statement.

The solar projects developed by SunEdison will help customers “better control their electricity costs while expanding the use of renewable energy throughout the U.S.,” Barry Neal, head of Wells Fargo’s environmental finance group, said in the statement.

Wells Fargo has provided at least $950 million since 2007 for more than 200 SunEdison solar projects in 13 U.S. states and Puerto Rico.

SunEdison, formerly MEMC Electronic Materials Inc., also makes polysilicon for solar cells and semiconductors.

To contact the reporter on this story: Ehren Goossens in New York at egoossens1@bloomberg.net

To contact the editor responsible for this story: Reed Landberg at landberg@bloomberg.net

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