SunEdison Gets $104 Million for Ontario Solar Projects

SunEdison Inc. (SUNE), the solar developer and polysilicon supplier formerly known as MEMC Electronic Materials Inc., received C$115 million ($104 million) in financing from Deutsche Bank AG (DBK) for power projects in Canada.

The funding from Germany’s biggest lender will be used for two solar farms in Ontario with a total of 33 megawatts of capacity that are expected to be complete by the end of the year, St. Peters, Missouri-based SunEdison said today in a statement. Terms weren’t disclosed.

SunEdison has raised more than $6 billion for renewable-energy projects worldwide, and has completed more than 130 megawatts of solar farms in the Canadian province.

SunEdison gained 1.4 percent to $20.33 at the close in New York. The company surged 12 percent yesterday after David Einhorn’s Greenlight Capital Inc. said it made a “large” investment in the company, and estimated its value at about $35 a share.

To contact the reporter on this story: Ehren Goossens in New York at

To contact the editors responsible for this story: Reed Landberg at Will Wade, Carlos Caminada

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