SunEdison adds US$40 million to loan facility

Share

In pursuit of growing its 830 MW of installed solar capacity already realized to date, SunEdison has added further capital to its solar revolving debt facility. The additional funds will be used to support the construction costs for solar projects. The credit facility is in the form of "non-recourse debt," which means that it is secured by a pledge of project collateral, including contracts and equipment.

The additional $40 million is the result of adding a new lender, in the form of TD Bank Group. Existing partner Deutsche Bank manages the revolving credit. Portigon is the other partner in the facility.

"This enhanced revolver provides an additional level of flexibility as we continue to execute on our North American pipeline of projects," said SunEdison’s Chris Bailey, the vice president for North America Project Finance, in a statement announcing the facility’s expansion. Bailey added that SunEdison has a “long standing” relationship with the TD Bank Group.

In 2011, SunEdison developed around 300 MW of solar projects worldwide.

Popular content

This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: editors@pv-magazine.com.

Share

Related content

Elsewhere on pv magazine...

Leave a Reply

Please be mindful of our community standards.

Your email address will not be published. Required fields are marked *

By submitting this form you agree to pv magazine using your data for the purposes of publishing your comment.

Your personal data will only be disclosed or otherwise transmitted to third parties for the purposes of spam filtering or if this is necessary for technical maintenance of the website. Any other transfer to third parties will not take place unless this is justified on the basis of applicable data protection regulations or if pv magazine is legally obliged to do so.

You may revoke this consent at any time with effect for the future, in which case your personal data will be deleted immediately. Otherwise, your data will be deleted if pv magazine has processed your request or the purpose of data storage is fulfilled.

Further information on data privacy can be found in our Data Protection Policy.