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

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

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

July 14, 2025
ACWA Power has signed power purchase agreements (PPAs) with Saudi Power Procurement Company (SPPC) for five solar PV projects in the country.
July 14, 2025
Elements Green has secured €80 million (US$93.5 million) in financing from Danish investment firm Copenhagen Infrastructure Partners (CIP).
July 14, 2025
Solar and storage developer MN8 Energy has raised US$575 million to refinance three PV projects in North Carolina, Kentucky and Illinois.
July 14, 2025
OpenSolar has launched a new model to help US rooftop solar installers reduce costs and thrive despite the loss of the 30% IRA tax credit.
July 14, 2025
Analyst Wood Mackenzie has forecast that solar PV and wind installations in the US will be 100GW lower than expected between 2025 and 2030 with the removal of Inflation Reduction Act (IRA) incentives.

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