sunedison inc (SUNE) Key Developments
SunEdison, Inc. Signs an Agreement to Develop and Install a 2.6 Megawatt Solar Power Plant for the Town of Winchendon
Apr 22 15
SunEdison, Inc. announced that is has signed an agreement to develop and install a 2.6 megawatt (MW) solar power plant for the town of Winchendon, Mass. on a previously unusable 12 acre town-owned landfill site. The landfill site will be converted under Massachusetts' Solar Renewable Energy Certificates (SREC II) program, which provides preferred incentives for brown field projects. Winchendon will save up to $8 million in energy costs over the 20 year power purchase agreement and will also receive incremental lease revenue from SunEdison. The solar power plant is projected to save 1,805 tons of carbon dioxide per year, equivalent to the amount of carbon sequestered by 1,479 acres of trees, or taking 380 cars off the road. SunEdison anticipates adding the solar power plant to the Call Right Projects List for TerraForm Power, Inc. and expects to offer this project to TerraForm Power for investment upon completion. Operation and maintenance of the solar power plant will be performed by SunEdison Services, which provides global 24/7 asset management, monitoring and reporting services.
SunEdison, Inc. Appoints Pancho Perez as Executive Vice President and Chief Operating Officer
Apr 22 15
SunEdison, Inc. announced that Pancho Perez has been appointed to the newly created role of Executive Vice President and Chief Operating Officer. Mr. Perez's appointment extends his role as COO for TerraForm Power to leadership in the same role across the SunEdison platform. Mr. Perez has previously served as President of SunEdison Europe, Middle East, and Latin America.
TerraForm Seeks Acquisitions
Apr 22 15
TerraForm Power, Inc. (NasdaqGS:TERP) and SunEdison, Inc. (NYSE:SUNE) have closed financing for a portfolio of 97MW of utility-scale solar power projects in the UK, which were connected in the first quarter of 2015. Terraform Power has acquired 53MW of plant capacity from this portfolio in Q1 of 2015. It plans to acquire the remaining 44MW during Q2.
SunEdison and TerraForm Power Close Financing for a Portfolio of 97 MW of Solar Projects
Apr 21 15
SunEdison, Inc. and TerraForm Power, Inc. announced that they have closed financing of a 97 megawatts DC portfolio of utility-scale photovoltaic solar projects in the UK that were connected during the first quarter of 2015. The portfolio is comprised of eight large-scale solar farms across England and Wales that will have the combined capacity to power nearly 30,000 homes per year. Individual project size varies from 6 to 19 MW. Financing for the construction of the solar farms has been provided by Bayerische Landesbank, which provided a £84.6 million non-recourse loan. EDF Energy will purchase the solar energy under a 15-year power purchase agreement (PPA) with SunEdison. As announced on March 31, 2015, TerraForm Power has acquired plants with a capacity of 53 MW from this portfolio. It intends to acquire the remaining 44 MW, currently included on SunEdison's Call Right Project List for TerraForm Power, during the second quarter of 2015.
SunEdison, Inc. Appoints Cathy Zoi as CEO of SunEdison's Rural Electric Utility Company
Apr 17 15
SunEdison, Inc. announced that Cathy Zoi has been appointed Chief Executive Officer responsible for developing SunEdison's rural electric utility company, which plans to profitably electrify 20 million new or underserved electric customers by 2020. Cathy Zoi has spent 30 years in the energy and environmental sectors, both in business and public service. She was a partner at Silver Lake Kraftwerk, as well as an operating executive in energy companies.