SunEdison and Petrobras sign an agreement to build one of the largest solar PV plants in Brazil

SAO PAULO, April 18, 2013 /PRNewswire/ -- SunEdison, a leading global solar energy services provider and subsidiary of MEMC Electronic Materials, Inc. (NYSE: WFR) has signed an agreement with Petrobras to build one of the largest solar photovoltaic power plants in Brazil. The plant will be located in Alto do Rodrigues, Rio Grande do Norte. Once completed, the SunEdison Renewable Operations Center will manage the ongoing operations of the plant. The energy generated will be destined to the National Interconnected System (SIN).

The plant will have an installed capacity of 1,1 MW DC (megawatt) and will be built on land adjacent to the Thermoeletric Plant Jesus Soares Pereira that belongs to Termoacu S.A, which major stakeholder is Petrobras.  The plant is expected to generate 1,65 GWh per year, avoiding the emission of 380 tons of carbon (foundation: generation by natural gas).   

The construction of the plant is part of an initiative lead by Petrobras within the structure of the Research and Development Program of the Brazilian Electricity Regulatory Agency (ANEEL).

This project also includes the construction of a 10 kW experimental platform, (a model plant) at the Federal University of Rio Grande do Norte (UFRN) Department of Electrical Engineering's Laboratory of Power Electronics and Renewable Energy, and counts with partnership of the Center for Gas Technology and Renewable Energy (CTGas-ER) located in Natal (RN).

The expansion of the network of laboratories will aid testing and certification of equipment, increase availability of public data on solar photovoltaic energy generation, as well as improve the quality of training of technical and higher-level professionals dedicated to this field.

Commenting on the agreement, Pancho Perez, SunEdison General Manager for EMEA, Latin America and North Asia, said: "We are pleased to collaborate with Petrobras, the leading energy company in Brazil, in this ambitious R&D project from ANEEL that aims to facilitate solar energy development and PV industry growth in Brazil. This agreement is a demonstration of our commitment to the Brazilian market. We look forward to working with Petrobras and helping to diversify the energy mix in Brazil."

Approximately, 50 people will work on the construction of the plant, which is expected to begin operations at the end of this year. The plant will be built with technology from SunEdison 3.672 Silvantis™ photovoltaic (PV) solar modules and will be installed, using A90 solar trackers designed by SunEdison.

SunEdison ranked as one of the leading solar power providers in 2012. As of December 2012, the company has interconnected 989 MW of solar energy around the world, and has the unique combination of upstream product innovation, project development and ongoing asset management and services. SunEdison has been operating in Latin America since 2010 with offices in Chile, Brazil and Mexico.

About SunEdison

SunEdison is a global leader in delivering solar power. The company manufactures solar wafers and modules and develops, finances, installs and operates solar power plants using proven photovoltaic technologies, delivering fully managed, predictably priced solar energy services for its commercial, government and utility customers. As of December 31, 2012, SunEdison had interconnected over 989 Megawatts of solar electricity throughout the world. For more information about SunEdison please visit www.sunedison.com.

About MEMC

MEMC is a global leader in semiconductor and solar technology.  MEMC 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, MEMC enables the next generation of high performance semiconductor devices and solar cells.  Through its SunEdison subsidiary, MEMC is also a developer of solar power projects and a worldwide leader in solar energy services.  MEMC's common stock is listed on the New York Stock Exchange under the symbol "WFR."  For more information about MEMC, please visit www.memc.com.

About Petrobras

Petrobras is an integrated energy company present in Brazil and in other 24 countries, with more than a million stockholders. Founded in October 1953, the Company completes 60 years in 2013 with consolidated participation in the segments of oil,    natural gas, biofuels and electric power generation.          

As the major worldwide operator in deep waters, its discoveries of oil and gas in the pre-salt layer opened a new exploratory frontier within the sector with potential to place Brazil amongst countries with the largest reservations of oil and natural gas. For more information about Petrobras, please go to www.petrobras.com.br

Forward-Looking Statements

Certain matters discussed in this press release are forward-looking statements, including that the plant is expected to begin operations in 2013 and that the plant is expected to generate 1,65 GWh per year.  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 normal commissioning risks attendant to large scale solar projects, delays or interruptions in construction, deployment or activation; the timely availability of required permits and authorizations for projects from governmental entities and third parties; 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 MEMC's filings with the United States Securities and Exchange Commission. These forward-looking statements represent MEMC's judgment as of the date of this press release. MEMC disclaims, however, any intent or obligation to update these forward-looking statements.

SOURCE SunEdison