Pima County, Ariz. Adds 5 Megawatts of Solar with SunEdison and SOLON

BELMONT, Calif., Sept. 14, 2015 /PRNewswire/ -- SunEdison, Inc. (NYSE: SUNE), the largest global renewable energy development company, today announced that it has contracted with Tucson-based solar developer and EPC firm SOLON Corporation for a 5 megawatt (MW) power purchase agreement and a construction and development agreement for 11 solar projects for Pima County, Ariz. The county will purchase electricity through a 20-year power purchase agreement at a fixed rate, and expects to enjoy significant energy savings at their Elections Center, recreation areas, and other civic buildings.  The projects will also provide the county with more than 1,800 solar canopy covered parking spots.

"By powering their civic buildings with clean and cost effective solar power, Pima County officials are saving taxpayer dollars and catalyzing economic growth in their community," stated Rafael Dobrzynski, SunEdison senior vice president and general manager of commercial and industrial solar. "To provide customers like Pima County with industry leading solutions, we team with talented local partners like SOLON. Together, we're able to deliver best-in-class financing and exceptional execution, built on regional expertise, local relationships, and community engagement."

SunEdison is providing its high-performance solar panels, construction financing, and development management, as well as the construction specifications for the project.  SOLON originated the project and is performing engineering, procurement, construction and operations and maintenance activities.

SunEdison and SOLON have partnered on more than 22 solar projects to date, totaling more than 13 megawatts of clean, reliable energy.

"SOLON's partnership with SunEdison is a win-win," said Brian Seibel, SOLON general manager. "Pima County receives flexible, industry leading project financing coupled with unmatched, local EPC expertise.  Our ongoing relationship with SunEdison allows SOLON to access world class financing, high-efficiency SunEdison solar panels, access to construction capital, and management expertise. We look forward to completing these 11 projects, and many more, with them."

The solar power plants are expected to generate enough energy each year to power more than 800 homes. The systems avoid the emission of approximately 13.5 million pounds of carbon dioxide, equivalent to the amount of carbon sequestered by more than 5,000 acres of U.S. forests. 

Construction is targeted to begin in the fourth quarter of 2015 with the final site finishing construction in the second half of 2016.

About SunEdison

SunEdison is the largest global renewable energy development company and is transforming the way energy is generated, distributed, and owned around the world. The company develops, finances, installs, owns and operates renewable power plants, delivering predictably priced electricity to its residential, commercial, government and utility customers.  SunEdison is one of the world's largest renewable energy asset managers and provides customers with asset management, operations and maintenance, monitoring and reporting services. Corporate headquarters are in the United States with additional offices and technology manufacturing around the world. SunEdison's common stock is listed on the New York Stock Exchange under the symbol "SUNE."  To learn more visit www.sunedison.com.

About SOLON

SOLON Corporation is a leading provider of large commercial and utility-scale photovoltaic (PV) system solutions to the North American market. SOLON delivers complete and cost-effective turnkey PV systems to its partners with a streamlined approach from project development, design and construction to financing and operation. To learn more visit www.solon.com.

Forward Looking Statements

This communication contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Exchange Act. Forward-looking statements can be identified by the fact that they do not relate strictly to historical or current facts. These statements involve estimates, expectations, projections, goals, assumptions, known and unknown risks, and uncertainties and typically include words or variations of words such as "expect," "anticipate," "believe," "intend," "plan," "seek," "estimate," "predict," "project," "goal," "guidance," "outlook," "objective," "forecast," "target," "potential," "continue," "would," "will," "should," "could," or "may" or other comparable terms and phrases. All statements that address operating performance, events, or developments that SunEdison expects or anticipates will occur in the future are forward-looking statements. They may include estimates of expected cash available for distribution (CAFD), earnings, revenues, capital expenditures, liquidity, capital structure, future growth, and other financial performance items (including future dividends per share), descriptions of management's plans or objectives for future operations, products, or services, or descriptions of assumptions underlying any of the above. Forward-looking statements provide SunEdison's current expectations or predictions of future conditions, events, or results and speak only as of the date they are made.  Although SunEdison believes its expectations and assumptions are reasonable, it can give no assurance that these expectations and assumptions will prove to have been correct and actual results may vary materially.

By their nature, forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those suggested by the forward-looking statements. Factors that might cause such differences include, but are not limited to, a variety of economic, competitive, and regulatory factors, many of which are beyond SunEdison's control and are described in SunEdison's Form 10-K for the fiscal year ended December 31, 2014, as well as additional factors it may describe from time to time in other filings with the Securities and Exchange Commission. You should understand that it is not possible to predict or identify all such factors and, consequently, you should not consider any such list to be a complete set of all potential risks or uncertainties.

SunEdison disclaims any obligation to publicly update or revise any forward-looking statement to reflect changes in underlying assumptions, factors, or expectations, new information, data, or methods, future events, or other changes, except as required by law.

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SOURCE SunEdison, Inc.

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