SunEdison, Huantai to Build 1.7 Gigawatts of China Solar

SunEdison Inc. (SUNE), the best-performing U.S. solar company this year, and Chinese solar wafer manufacturer Huantai Group agreed to jointly develop 1.7 gigawatts of solar power projects in China.

The companies will develop the plants over the next five years with SunEdison supplying Huantai with polysilicon from a new South Korea plant, St. Peters, Missouri-based SunEdison said today in a statement.

China, the world’s largest solar market, plans to reach 70 gigawatts of capacity by 2017, from about 20 gigawatts at the end of last year.

SunEdison said May 29 it’s planning an initial public offering of a unit the company created to own and operate renewable power projects.

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

To contact the editors responsible for this story: Reed Landberg at landberg@bloomberg.net Will Wade, Robin Saponar

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.