SunEdison to Develop 14 Megawatts of Solar Plants on Long Island

SunEdison Inc., the best-performing U.S. solar company, agreed to build 14 megawatts of solar capacity at seven locations in the state of New York.

The contracts with the Long Island towns of Southold and Easthampton, Nassau and Suffolk counties, and the Suffolk County Water Authority were awarded as part of the Long Island Power Authority’s feed-in-tariff program, Maryland Heights, Missouri-based SunEdison said Thursday in a statement. Terms weren’t disclosed.

LIPA has agreed to separate 20-year contracts to buy electricity from the solar farms, which will power about 1,100 homes. TerraForm Power Inc., SunEdison’s yieldco unit, is expected to purchase the solar plants once completed.

SunEdison has gained about 59 percent over the past year, the most of any U.S. company on the 21-member Bloomberg Intelligence Global Large Solar Energy Index.

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