SunEdison using De Lage Landen for US$52.5 million sale-leaseback fund for PV projects

  • SunEdison said that the new funding mechanism would be used for the financing of PV projects developed within the US for commercial and municipal customers, due to the competitive financing conditions offered by DLL.
    SunEdison said that the new funding mechanism would be used for the financing of PV projects developed within the US for commercial and municipal customers, due to the competitive financing conditions offered by DLL.

Financials

  • SUNE
    NYSE
    22.03
    -0.06 (-0.27%)
    4:01PM EDT

Major PV project developer SunEdison has secured from De Lage Landen Financial Services (DLL) an investment of US$52.5 million to be used in a sale-leaseback fund.

SunEdison, a subsidiary of MEMC, said that the new funding mechanism would be used to finance PV projects developed within the US for commercial and municipal customers, due to the competitive financing conditions offered by DLL, a subsidiary of Rabobank Group

This is accomplished via DLL offering project financing via a long term lease agreement with a SunEdison project subsidiary, which the company said “efficiently monetises the tax benefits and cash flows from customer power purchase agreements”.

MEMC highlighted in its Q3 2012 quarterly conference call that the main focus of its PV project business was on smaller utility and commercial-scale projects as these were often easier to gain funding as well as developing the project.

However, the project developer with partners also recently secured US$314 million in long-term debt and equity financing for two large-scale solar projects in Limpopo province, South Africa.

PV-Tech Storage Promo

Newsletter

Preview Latest
Subscribe
We won't share your details - promise!
Next Generation Solar PV Finance

Publications

  • Photovoltaics International 24th Edition

    Signs earlier in the year of the global industry entering a growth phase have now been confirmed beyond any doubt. Almost all the big-name suppliers have now announced some form of manufacturing capacity expansion, a trend that analysts agree will only gather pace as long as the levels of demand predicted over the next few years turn out to be correct.

  • Manufacturing The Solar Future: The 2014 Production Annual

    Although the past few years have proved extremely testing for PV equipment manufacturers, falling module prices have driven solar end-market demand to previously unseen levels. That demand is now starting to be felt by manufacturers, to the extent that leading companies are starting to talk about serious capacity expansions later this year and into 2015. This means that the next 12 months will be a critical period if companies throughout the supply chain are to take full advantage of the PV industry’s next growth phase.

Partners

Acknowledgements

Solar Media