SunEdison Closes $190 Million Financing for Chile Solar Project

SunEdison Inc. (SUNE), the best-performing solar company this year, closed financing totaling $190 million that it’s using for a 73-megawatt power plant in Chile.

SunEdison is receiving $48.9 million in debt from the Overseas Private Investment Corp., $50.3 million from the Inter-American Development Bank, $16 million from the Clean Technology Fund and $39.8 million from Chile’s Corpbanca SA, the St. Peters, Missouri-based solar company said today in a statement. Corpbanca also is providing a local value-added tax facility worth $35 million. No loan terms were disclosed.

The Maria Elena project, in the nation’s Antofagasta region, is expected to be directly connected to the grid later this year. SunEdison will own and operate the plant.

SunEdison is up 75 percent this year, the most in the Bloomberg Industries Global Large Solar Energy Index.

To contact the reporter on this story: Justin Doom in New York at jdoom1@bloomberg.net

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

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