Info
Info
News Article

SunEdison Closes 98 MW Of Solar Projects In Europe

News


SunEdison, has provided additional details on the solar project closings announced last week. The company closed three transactions involving approximately 98 megawatts (MWp) of photovoltaic (PV) power plants in Europe during the second quarter. The transactions include the sale of a 60MWp power plant in Bulgaria to a consortium of investors consisting of an affiliate of First Reserve Energy Infrastructure Fund, Crescent Capital and ACWA Power; a 13 MWp portfolio of projects in Italy to Eoxis; and a 25MWp power plant in Italy to an institutional investor.

Carlos Domenech, President of SunEdison, commented: "These transactions are a perfect example of SunEdison's continued ability to structure and execute complex transactions, while aligning world class investors who recognize the growing role solar plays in fulfilling today's energy needs worldwide."

Pancho Perez, General Manager of SunEdison for EMEA, Latin America and North Asia, said: "With a solid pipeline of projects in Europe, Latin America and Middle East, we will expand our collaboration with our project partners in the future, and continue SunEdison's growth worldwide."

Bulgaria: 60 MWp plant SunEdison closed on a transaction involving a 60MWp photovoltaic power plant in Bulgaria with a consortium of investors comprised of an affiliate of First Reserve Energy Infrastructure Fund, Crescent Capital, a Turkish private equity firm focused on energy and backed by EBRD, EIB, and other institutional investors, and ACWA Power, the Saudi Arabia based developer, owner and operator of power generation and water desalination plants across the Middle East and Africa.  NOMAC, a subsidiary of ACWA Power, and SunEdison entered into a long-term joint venture agreement to provide operation and maintenance services to the power plant.

The photovoltaic power plant, located in Karadzhalovo (a village in the municipality of Parvomay, Bulgaria) which was interconnected in March, was financed through a euro 155 million non-recourse debt financing arrangement with IFC, a member of the World Bank Group, Overseas Private Investment Corporation (OPIC) and Unicredit. 
Italy: 13 MWp portfolio sold to Eoxis SunEdison closed on a transaction involving  a portfolio of 13 MWp PV projects in Italy with United Kingdom-based Eoxis. The portfolio consists of three projects located in the region of Campania, which were interconnected in late 2011. The assets will be monitored, maintained and operated by SunEdison under long-term agreements.

In a parallel transaction, SunEdison closed, jointly with Eoxis, the financing of two of the projects included in this portfolio, through euro 24.9 million non-recourse, long-term senior debt facility with Centrobanca (UBI Banca Group), a Corporate and Investment Bank, with a well established project financing activity on the Italian Market. This facility was partly guaranteed by SACE, the insurance and financial group owned by the Italian Ministry of Economy and Finance, which supports the development of domestic infrastructures and renewable energy sources. The financing agreement included an additional euro 1.7 million VAT facility.

Italy: 25 MWp plant   SunEdison closed on a transaction involving  a 25 MWp photovoltaic plant located in Puglia, Italy, operating since the fourth quarter of 2011 with an institutional investor.

In the first full year of operation, the total portfolio is expected to generate sufficient energy to power over 33.000 homes in Italy and Bulgaria and avoid CO(2) emissions equivalent of removing more than 10.000 cars from the road every year.

Solar Energy For Water Treatment: IBC SOLAR Helps Water Authority Become More Sustainable
Sonnedix Adds 40 MW Of Capacity To Its Portfolio In Chile
VivoPower International PLC Announces Completion Of Electrical Works For 39 MWdc Molong Solar Farm
SolarArise Commissions 75 MW Solar Plant In Uttar Pradesh
Greencoat Renewables Announces First Transaction In Nordic Market
Analysis Of UK Commercial Roof Space Shows Solar PV Film Can Achieve Net Zero Without Greenfield Sites
Ib Vogt Achieves Financial Close And Start Of Construction Of 116 MWp Solar PV Project In Malaysia
Driving Efficiency Through Flexible Solar Power Solutions
Sonnedix Acquires 150MW Utility Scale Project Located In Central Chile
BayWa R.e. And HeidelbergCement Sign First Solar Corporate PPA In Polish History
US Solar Fund To Acquire Up To 50% Of 200MWDC Mount Signal 2
Sonnedix Brings Chile Closer To Meet Its Renewable Power Targets
Oakapple Renewable Energy Appoint Stuart Gentry To Head Business Development
SUNfarming Secures EUR 10 Million In Fresh Money For Poland
Winch Energy Closes Largest Mini Grid Financing Portfolio To Date
Luxcara And GE Renewable To Deliver 753 MW To Sweden With Single Onshore Wind Farm
Going Green In Lancashire – Hundreds Of Houses Installed With Solar Panels In Ground-breaking Project
International Solar Alliance Special Assembly Elects Dr Ajay Mathur As New Director General
Q CELLS Solar Modules Keeping The Lights On For Dutch Bulb Grower
SUNfarming Reaches Financial Close On Project Financing For 26 MWp PV Portfolio In Poland
The Smarter E South America Postponed To October 18-20, 2021
Leclanché Selected By ENERGODATA To Provide Battery Storage
SunBrush Mobil And Infinity Establish Service Base At Benban, Africa's Largest Solar Park
AEG Power Solutions Equips The Microgrid Laboratory Emulator Of Paderborn University

×
Search the news archive

To close this popup you can press escape or click the close icon.
Logo
×
Logo
×
Register - Step 1

You may choose to subscribe to the Solar + Power Magazine, the Solar + Power Newsletter, or both. You may also request additional information if required, before submitting your application.


Please subscribe me to:

 

You chose the industry type of "Other"

Please enter the industry that you work in:
Please enter the industry that you work in:
 
X
Info
X
Info
{taasPodcastNotification} Array
Live Event