SunEdison 1.7 Megawatt (MW) Rooftop Solar Project Powers Southern California Edison, Profits Landlord

BELMONT, Calif., Oct. 23, 2014 /PRNewswire/ -- SunEdison, Inc., (NYSE: SUNE), a leading global solar technology manufacturer and provider of solar energy services, today announced the completion of a 1.7 MW DC roof-mounted solar photovoltaic (PV) system in Hesperia, California that will both provide power to Southern California Edison (SCE) and benefit the landowner, real estate developer ICO Group. SCE is purchasing the energy via a 20 year power purchase agreement (PPA) as part of its Solar Photovoltaic Program (SPVP), aimed at advancing solar energy generation. Under the program, the facility owner benefits by leasing its rooftop.

"This facility is further proof of our ability to make solar a win/win solution," said Bob Powell, president SunEdison North America. "Whether you're a utility looking for an established player to meet specific requirements on schedule, or a landlord looking for new revenue streams, SunEdison has the experience and track record to deliver."

"SCE is proud to continue to support the development of solar distributed generation in California and appreciates the contribution this project will have to helping SCE meet the State's energy goals," said Nicole Neeman Brady, director of energy procurement at Southern California Edison.

The Hesperia facility is the second SPVP project SunEdison has completed with SCE, with nine more projects currently under development. SunEdison is the only company to win and sign projects in all three rounds of the program as part of a competitive RFP process. SunEdison has now completed 382 projects in California, contributing over 489 MW of clean energy capacity to the people of the Golden State.

About SunEdison

SunEdison is a global leader in transforming how energy is generated, distributed and owned. SunEdison manufactures solar technology and develops, finances, installs and operates distributed solar power plants, delivering predictably priced electricity and services to its residential, commercial, government and utility consumers. SunEdison also provides 24/7 asset management, monitoring and reporting services for hundreds of solar systems worldwide via the company's Renewable Operation Center (ROC). SunEdison has offices in North America, Europe, Latin America, Africa, India, and Asia. SunEdison's common stock is listed on the New York Stock Exchanges under the symbol "SUNE." To learn more visit www.sunedison.com.

Forward Looking Statements

Certain matters discussed in this press release are forward-looking statements, including that the 1.7 MW DC roof-mounted solar photovoltaic (PV) system in Hesperia, California will benefit the landowner, real estate developer ICO Group; SCE is purchasing the energy via a 20 year power purchase agreement (PPA) as part of its Solar Photovoltaic Program (SPVP), aimed at advancing solar energy generation; and under the program, the facility owner benefits by leasing its rooftop.  Such statements involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Potential risks and uncertainties include changes in applicable regulatory requirements and incentives for production of solar power; and general business and economic conditions, including seasonality of the industry, and other risks described in SunEdison's filings with the United States Securities and Exchange Commission. These forward-looking statements represent SunEdison's judgment as of the date of this press release. SunEdison disclaims, however, any intent or obligation to update these forward-looking statements.

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SOURCE SunEdison, Inc.

Related Links

http://www.sunedison.com