SunEdison secures financing for beachhead in China


SunEdison is partnering with JIC Capital on a joint venture agreement to facilitate nonrecourse financing to develop, construct and own up to 1 GW of utility-scale solar PV projects in China over the next three years.

SunEdison will be able to purchase the projects developed by the joint venture at fair market value, the company said.

"This historic joint venture is a great step forward for SunEdison," said Ahmad Chatila, president and CEO of SunEdison.

Popular content

JIC Capital Chairman Jian Ping Zhang added that capital contributions would accelerate the growth of the solar market in China, stressing that the country’s PV industry required “international know-how to improve. We see this collaboration brings opportunities to combine capital and industry, to form a focused industrial investment platform for long-term operations."

China has approximately 19 GW of installed solar energy capacity, with a target to reach 35 GW by 2015 and 100 GW by 2020. The joint venture is currently exploring and evaluating several large-scale projects and expects to start construction in early 2015. Operation and maintenance of the solar power plants will be performed by the SunEdison Renewable Operation Center (ROC), which provides global 24/7 asset management, monitoring and reporting services.

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:


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Your email address will not be published.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.