SunEdison spins off yield company
SunEdison has announced its contribution and sale of a portfolio of projects to SunEdison YieldCo, a newly formed yieldco vehicle wholly-owned by SunEdison. The initial capitalization of SunEdison YieldCo was financed with a $250 million facility extended by Goldman Sachs Bank USA, acting as Sole Lead Arranger.
"We're pleased to have Goldman Sachs support SunEdison," said Carlos Domenech, CEO, SunEdison Capital. "This is a significant step in executing SunEdison's asset ownership strategy. SunEdison YieldCo will utilize proceeds from the $250 million facility to acquire projects from third party developers as well as projects developed by SunEdison."
Domenech concluded, "SunEdison has installed over 1,000 projects, and has significant expertise as an asset manager with close to 2 GW of solar PV projects under management. We believe SunEdison's development teams and our growing partnerships with third party developers will provide significant ongoing project opportunities."
