Wells Fargo provides financing for SunEdison’s 11.3MW El Chaparral Solar Farm

Financials

  • SUNE
    NYSE
    21.47
    +0.52 (2.48%)
    4:01PM EDT
  • WFC
    NYSE
    51.60
    0.00 (0.00%)
    4:01PM EDT

The El Chaparral Solar Farm in New Mexico has found financial support through Wells Fargo. The solar project, developed by SunEdison, is the sixth utility-scale solar project that Well Fargo has funded, in partnership with SunEdison, in the past year.

Located on 140 acres of land and using over 40,300 solar modules, including MEMC Silvantis modules, the solar project will produce around 26 million kWh of energy per year. El Pas Electric Company has agreed to buy the power produced by the plant for the next 25-years under a PPA.

"The success of these projects demonstrates that the industry is growing as solar continues to provide a greater portion of the country’s energy mix,” said Barry Neal, head of Wells Fargo's Environmental Finance Group. "As one of the leading capital providers to the cleantech industry, Wells Fargo is committed to supporting solar power generation through investments such as the Chaparral project and to helping companies like SunEdison meet their financing needs."

PV-Tech Storage Promo

Newsletter

Preview Latest
Subscribe
We won't share your details - promise!

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