SunEdison sells 30MW Webberville solar plant to MetLife and Longsol Holdings

Financials

  • SUNE
    NYSE
    21.28
    -0.19 (-0.88%)
    4:01PM EDT

MetLife and Longsol Holdings US advised that they had mutually bought SunEdison’s 30MW Webberville, Texas solar project, for an undisclosed amount, in December 2011. The project was activated in December 2011 and is said to be the largest active solar plant in Texas. Constructed by RES Americas, who will also operate and maintain the project for the next five years, the solar farm is anticipated to produce over 1.4 billion kWh of electricity over 25 years.

Upon RES America’s five-year O&M commitment ending, SunEdison will take over the O&M for the 30MW solar farm for 20 years. The companies note that the utility-scale project was financed through a 25-year solar PPA with Austin Energy, which will buy the energy and environmental rewards from the project at a fixed rate over the life of the installation.

"After owning and managing 12 solar projects in Europe for the last five years, we are proud to acquire our 13th project in the US with a strong partner like MetLife," stated Pablo Diaz de Rabago and Javier Mellado, CEO & president of Longsol Holdings. "SunEdison has developed a great project and we are proud to be part of it and look forward to working with SunEdison and MetLife on future projects. Longsol is committed to develop its footprint of investing long-term equity and managing solar projects around the world with the help of top developers and financing partners." 

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