SunEdison Completes The Initial Capitalization Of Its YieldCo Vehicle, Goldman Sachs Provides $250 Million Facility
BELMONT, Calif., April 2, 2014 /PRNewswire/ -- SunEdison (NYSE: SUNE), a leading provider of solar energy solutions and services, announced today 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."
This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities.
SunEdison is a global leader in semiconductor and solar technology. SunEdison's semiconductor business has been a pioneer in the design and development of silicon wafer technologies for over 50 years. With R&D and manufacturing facilities in the U.S., Europe and Asia, SunEdison enables the next generation of high performance semiconductor devices. SunEdison's solar business develops, finances, installs and operates distributed power plants, delivering predictably priced solar energy and services for its commercial, government and utility customers. SunEdison's common stock is listed on the New York Stock Exchange under the symbol "SUNE." To learn more visit www.sunedison.com.
SOURCE SunEdison, Inc.