SunEdison and DRI Energy Sign Channel Partner Agreement for the Deployment of Solar Power Installations

BELTSVILLE, Md., Aug. 5 /PRNewswire/ -- SunEdison, a subsidiary of MEMC Electronic Materials (NYSE: WFR), and DRI Energy, a subsidiary of DRI Companies, today announced a channel partnership to deploy photovoltaic power plants in California, Hawaii and Arizona. The initial partnership is set to deploy over 19 megawatts (MW) of solar capacity.

Under the channel partner agreement, SunEdison will finance solar deployment contracts facilitated by DRI Energy with commercial, government and utility clients. SunEdison will also own, operate, maintain and monitor the solar power plants which will be designed, engineered and constructed by DRI Energy.

"SunEdison's leadership position in the solar industry provides the experience and expertise customers require in today's market," said Steve Kelley, Executive Vice President, DRI Energy. "DRI looks forward to combining our outstanding execution capabilities with SunEdison's financing excellence to provide the market with the highest quality of service."

"SunEdison is proud to name DRI Energy as one of our preferred channel partners," said Jaime A. Smith, Vice President of North American Sales for SunEdison. "Together with DRI's outstanding solar integration experience and SunEdison's financing capabilities, we'll deploy solar faster and more cost effectively for our customers."  

SunEdison and DRI Energy have already successfully deployed solar projects in California and have several others currently under construction.

About SunEdison

SunEdison is North America's largest solar energy services provider. The company finances, installs and operates distributed power plants using proven photovoltaic technologies, delivering fully managed, predictably priced solar energy services for its commercial, government and utility customers. For more information about SunEdison, please visit www.sunedison.com.

About MEMC

MEMC is a global leader in the manufacture and sale of wafers and related intermediate products to the semiconductor and solar industries. MEMC has been a pioneer in the design and development of wafer technologies over the past 50 years. With R&D and manufacturing facilities in the U.S., Europe and Asia, MEMC enables the next generation of high performance semiconductor devices and solar cells. With the acquisition of SunEdison, MEMC is now a developer of solar power projects and North America's largest solar energy services provider. MEMC's common stock is listed on the New York Stock Exchange under the symbol "WFR" and is included in the S&P 500 Index. For more information about MEMC, please visit www.memc.com.

About DRI Energy

DRI Energy leverages over 30 years of roofing and construction experience in setting the industry standard for quality solar solutions and construction, including leading safety practices. DRI Energy relies on well-established processes and procedures to consistently deliver the most comprehensive integration services to the industry. DRI Energy Corporation, headquartered in Irvine, California, is one of four wholly-owned subsidiaries of DRI Companies, a privately held company and one of the most respected roofing contractors in the United States for over 30 years. DRI Companies' clients include Alcoa, Boeing, IBM, Home Depot, Disney, Walmart, Macy's, Target, NASA and the United States Navy. DRI Energy's sister company, Lumeta, provides innovative rooftop PV products for commercial and residential applications. For more information visit www.dricompanies.com.

SOURCE SunEdison