New Projects, Solar

SunEdison secures construction financing on 60 MW solar power facility

SunEdison (NYSE: SUNE), a solar technology manufacturer and provider of solar power services, has closed on construction financing for the 60-MW/AC (alternating  current) Regulus solar power plant located in Kern County, Calif.

Deutsche Bank Securities Inc. was the underwriter for the financing contract.

SunEdison is managing the construction of the plant, which will be composed of approximately 250,000 SunEdison Silvantis Photovoltaic (PV) Solar Modules. Once operational, SunEdison will provide solar asset management services, global monitoring, field dispatch and reporting services through its Renewable Operation Center (ROC).

“Regulus is our largest North America project to date and is evidence of the momentum we are building in the California utility scale solar market,” said Bob Powell, SunEdison President of North America.  “In the past month we’ve announced completion on the Adobe and Cascade projects which total nearly 40-MW/AC.”

The solar facility is expected to reach commercial operation by the end of 2014.