Maryland, United States [RenewableEnergyWorld.com] SunEdison has closed US $20 million in project financing with Union Bank N.A. The funds provide initial financing for two projects, including a 1.7-megawatt (MW) ground mount installation hosted by the City of Rifle, Colorado.
SunEdison finances, builds and operates systems under long-term solar power services agreements. Union Bank N.A. also financed SunEdison’s 8.2-MW utility-scale photovoltaic solar energy system in Alamosa, Colorado.
“Despite a contraction in the U.S. tax equity market, SunEdison’s leading investor relationships have allowed us to develop financing innovations that bring immediate tangible value for our current and new investment partners. These improved structures also allow us to more efficiently scale our U.S. tax equity financing and serve a larger group of customers,” said Carlos Domenech, COO and CFO of SunEdison.