SunEdison enters UK solar market with 56MW project portfolio

Facebook
Twitter
LinkedIn
Reddit
Email

SunEdison, one of the largest solar technology manufacturers in North America, is finally breaking into UK territory. The company announced on Wednesday that it had closed a non-recourse debt financing agreement with Deutsche Bank, with the proceeds of the deal being used to finance four PV projects in the UK.

The four projects, which are currently being built in Wiltshire, North Devon and on the Essex/Suffolk border, are expected to be operational by the end of March 2014.

This article requires Premium SubscriptionBasic (FREE) Subscription

Try Premium for just $1

  • Full premium access for the first month at only $1
  • Converts to an annual rate after 30 days unless cancelled
  • Cancel anytime during the trial period

Premium Benefits

  • Expert industry analysis and interviews
  • Digital access to PV Tech Power journal
  • Exclusive event discounts

Or get the full Premium subscription right away

Or continue reading this article for free

Jose Perez, SunEdison’s president of Europe, Middle East, Africa (EMEA) and Latin America, said: “We are entering the UK solar market with a project portfolio while expanding our relationship with Deutsche Bank, this demonstrates our ability to utilise existing relationships to enter new markets and facilitate the expansion of our utility business without impacting our balance sheet. We view the United Kingdom as a high-growth market for solar and for our company, we are looking forward to supporting economic growth for the United Kingdom through solar projects that create jobs and support the local economy while delivering predictably priced energy.”

Once the four projects are completed, they will be managed by the SunEdison Renewable Operation Centre (ROC), which will both monitor and report on the performance of the solar power plants.

The energy gained from the projects will be acquired by SmartestEnergy, the UK’s leading purchaser of electricity produced by the independent sector through a power purchase agreement (PPA). The deal will guarantee SmartestEnergy years of dependable electricity.

SunEdison also announced that Foresight Solar Fund Limited, an investment company managed by Foresight Group, will obtain the portfolio of projects once interconnected through a share purchase agreement (SPA).

One of the UK’s leading investors in renewable energy, Foresight currently oversees over £650 million (US$1.08 billion) in 23 separate PV projects in the UK, the USA, Spain and Italy.

Read Next

October 8, 2025
The NSW Independent Planning Commission has granted planning approval for Potentia Energy's 500MW Tallawang solar-plus-storage project.
October 8, 2025
US solar module prices jumped in Q3 2025 as developers scrambled to meet the 2 September 2025 safe harbour deadline for Investment Tax Credit (ITC) qualification, according to supply chain platform Anza.
October 8, 2025
Despite policy headwinds on the federal level, there is optimism for the future of the US solar and storage sector.
Premium
October 8, 2025
PV Talk: Smart Energy Council's Nigel Morris reflects on how Australia has become a global testbed for distributed solar and storage innovation.
October 8, 2025
Officials from Norway and Egypt have agreed provisional terms for the financing of the Dandara solar park in Egypt, which is being built and operated by Norwegian IPP Scatec.
October 8, 2025
University of Sydney scientists have created the largest and most efficient triple-junction perovskite-perovskite-silicon solar cell on record.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
October 21, 2025
New York, USA
Solar Media Events
November 25, 2025
Warsaw, Poland
Solar Media Events
December 2, 2025
Málaga, Spain
Solar Media Events
February 3, 2026
London, UK