SunEdison secures USD300 million for North American funding
12. October 2011 | Markets & Trends, From the Editor | By: Jonathan GiffordIn one of the largest non-recourse credit facilities issued for photovoltaic projects, Deutsche Bank and Rabobank will provide a USD300 million facility to SunEdison for projects in the U.S. and Canada.
The facility, which is available immediately, will be used to fund utility and rooftop solar projects. The nature of non-recourse debt is such that it is only secured by a pledge of collateral including the project contracts and equipment.
The revolving credit facility will be available for three years.
SunEdison currently has developed 330 megawatts (MW) of photovoltaic projects in North America over 500 installations and continues to look for additional banking partners. In 2010 the company deployed more than 160 MW worldwide.
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