SunEdison’s 53.5MW multi-site PV project wins over US$200 million funding from Wells Fargo

Facebook
Twitter
LinkedIn
Reddit
Email

SunEdison’s 53.5MW multi-site solar PV project in New Mexico looks set for completion by the end of this year, and has been buoyed by the news that it has secured financing of over US$200 million from financier Wells Fargo. MEMC subsidiary company SunEdison has now activated three of the five power plants that together make up the 53.5MW total, and the remaining two plants are scheduled for completion before the year’s end.

The project developer held a site ceremony today in Carlsbad, New Mexico, attended by the city’s mayor and officials from SunEdison, Xcel Energy and Wells Fargo to announce the activation of the three plants. Electricity generated by the plants is being bought by Southwestern Public Service, a subsidiary of Xcel Energy. Upon completion, the New Mexico power plant will be among one of the largest in the US.

This article requires Premium SubscriptionBasic (FREE) Subscription

Unlock unlimited access for 12 whole months of distinctive global analysis

Photovoltaics International is now included.

  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Unlimited digital access to the PV Tech Power journal catalogue
  • Unlimited digital access to the Photovoltaics International journal catalogue
  • Access to more than 1,000 technical papers
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

Wells Fargo has become more and more involved in investments in the renewables industry of late, and is said to have provided over US$2.2 billion in renewables-based financing for over 220 solar projects and 35 wind projects in 26 US states since 2006. This particular project marks Wells Fargo’s largest energy construction loan to date, and the company has also signed up to provide permanent equity financing for all five projects upon completion.

“Wells Fargo is committed to helping cleantech businesses and will continue to expand our support of projects and companies, such as SunEdison, that are leaders in building a clean energy economy,” said Puon Penn of Wells Fargo’s National Cleantech group.

Read Next

July 18, 2025
The average price of solar panels used in distributed generation projects in the US reached US$0.27/W by the first half of the year.
July 18, 2025
Companies have signed 4.22GW of solar PV power purchase agreements in the first half of 2025, according to Swiss consultancy Pexapark.
July 18, 2025
PV Tech spoke with international buyers and investors on key industry issues such as new technology equipment procurement, supply chain management and ESG compliance.
Premium
July 18, 2025
Inside the European Solar Academy's steps to equip Europe’s workforce with necessary skills as it approaches its first anniversary.
July 18, 2025
Georgia Power’s 2025 Integrated Resource Plan (IRP) will see the utility aim to install 4GW of new renewable power capacity by 2035.
July 18, 2025
Decisions and actions related to the US Department of Interior (DoI) will ‘undergo elevated review’ of solar PV and wind facilities.

Subscribe to Newsletter

Upcoming Events

Media Partners, Solar Media Events
September 2, 2025
Mexico City, Mexico
Solar Media Events
September 16, 2025
Athens, Greece
Solar Media Events
September 22, 2025
Bilbao, Spain
Solar Media Events
September 30, 2025
Seattle, USA
Solar Media Events
October 1, 2025
London, UK