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SunEdison Closes 98 MW of Solar Projects in Europe

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SunEdison Closes 98 MW of Solar Projects in Europe PR Newswire BELMONT, California, July 9, 2012 BELMONT, California, July 9, 2012 /PRNewswire/ -- SunEdison demonstrates its ability to deploy high value solar assets in Europe and to structure complex transactions attracting world class financing partners Sun Edison LLC, a leading worldwide solar energy services provider and a subsidiary of MEMC Electronic Materials (NYSE:WFR), today provided additional details on the solar project closings announced last week. The company closed three transactions involving approximately 98 megawatts (MWp) of photovoltaic (PV) power plants in Europe.during the second quarter. The transactions include the sale of a 60MWp power plant in Bulgaria to a consortium of investors consisting of an affiliate of First Reserve Energy Infrastructure Fund, Crescent Capital and ACWA Power; a 13 MWp portfolio of projects in Italy to Eoxis; and a 25MWp power plant in Italy to an institutional investor. Carlos Domenech, President of SunEdison, commented: "These transactions are a perfect example of SunEdison's continued ability to structure and execute complex transactions, while aligning world class investors who recognize the growing role solar plays in fulfilling today's energy needs worldwide.
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SunEdison Closes 98 MW of Solar Projects in
Europe
PR Newswire
BELMONT, California, July 9, 2012
BELMONT, California
,
July 9, 2012
/PRNewswire/ --
SunEdison demonstrates its ability to deploy high value solar assets in Europe
and to structure complex transactions attracting world class financing partners
Sun Edison LLC, a leading worldwide solar energy services provider and a
subsidiary of MEMC Electronic Materials (NYSE:WFR), today provided additional
details on the solar project closings announced last week. The company closed
three transactions involving approximately 98 megawatts (MWp) of
photovoltaic (PV) power plants in Europe.during the second quarter. The
transactions include the sale of a 60MWp power plant in
Bulgaria
to a
consortium of investors consisting of an affiliate of First Reserve Energy
Infrastructure Fund, Crescent Capital and ACWA Power; a 13 MWp portfolio of
projects in
Italy
to Eoxis; and a 25MWp power plant in
Italy
to an institutional
investor.
Carlos Domenech, President of SunEdison, commented:
"These transactions
are a perfect example of SunEdison's continued ability to structure and execute
complex transactions, while aligning world class investors who recognize the
growing role solar plays in fulfilling today's energy needs worldwide."
Pancho Pérez, General Manager of SunEdison for EMEA,
Latin America
and
North Asia
, said:
"With a solid pipeline of projects in Europe, Latin America and
Middle East, we will expand our collaboration with our project partners in the
future, and continue SunEdison's growth world-wide."
Bulgaria
: 60 MWp plant
SunEdison closed on a transaction involving a 60MWp photovoltaic power plant
in
Bulgaria
with a consortium of investors comprised of an affiliate of First
Reserve Energy Infrastructure Fund, Crescent Capital, a Turkish private equity
firm focused on energy and backed by EBRD, EIB, and other institutional
investors, and ACWA Power, the
Saudi Arabia
based developer, owner and
operator of power generation and water desalination plants across the
Middle
East
and
Africa
. NOMAC, a subsidiary of ACWA Power, and SunEdison entered
into a long-term joint venture agreement to provide operation and
maintenance services to the power plant.
The photovoltaic power plant, located in Karadzhalovo (a village in the
municipality of Parvomay,
Bulgaria
) which was interconnected in March, was
financed through a €155 million non-recourse debt financing arrangement with
IFC, a member of the World Bank Group, Overseas Private Investment
Corporation (OPIC) and Unicredit.
Italy
: 13 MWp portfolio sold to Eoxis
SunEdison closed on a transaction involving a portfolio of 13 MWp PV projects in
Italy
with
United Kingdom
-based Eoxis. The portfolio consists of three projects
located in the region of
Campania
, which were interconnected in late 2011. The
assets will be monitored, maintained and operated by SunEdison under long-
term agreements.
In a parallel transaction, SunEdison closed, jointly with Eoxis, the financing of
two of the projects included in this portfolio, through a €24.9 million non-
recourse, long-term senior debt facility with Centrobanca (UBI Banca Group), a
Corporate and Investment Bank, with a well established project financing
activity on the Italian Market. This facility was partly guaranteed by SACE, the
insurance and financial group owned by the Italian Ministry of Economy and
Finance, which supports the development of domestic infrastructures and
renewable energy sources. The financing agreement included an additional
€1.7 million VAT facility.
Italy
: 25 MWp plant
SunEdison closed on a transaction involving a 25 MWp photovoltaic plant
located in Puglia,
Italy
, operating since the fourth quarter of 2011 with an
institutional investor.
In the first full year of operation, the total portfolio is expected to generate
sufficient energy to power over 33.000 homes in
Italy
and
Bulgaria
and avoid
CO
2
emissions equivalent of removing more than 10.000 cars from the road
every year.
About SunEdison:
http://www.sunedison.com
About MEMC:
http://www.memc.com
About First Reserve:
http://www.firstreserve.com.
About Crescent Capital:
http://www.crescent.com.tr.
About ACWA Power:
http://www.acwapower.com
About Eoxis:
http://www.eoxisenergy.com.
Contacts:
For MEMC and SunEdison
Media:
Bill Michalek
Director, Corporate Communications
+1-636-474-5443
Investors/Analysts:
Chris Chaney
Director, Investor Relations
+1-636-474-5226
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