SunEdison Inc., 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 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.