SunEdison Applauds Governor Cuomo's Support For Solar In New York

BELMONT, Calif., Jan. 21, 2015 /PRNewswire/ -- SunEdison, Inc. (NYSE: SUNE), a leading solar technology manufacturer and provider of solar energy services, applauds New York Governor Andrew Cuomo's 2015 Opportunity Agenda, and in particular his continued support for the development of a homegrown solar industry in New York state. The Governor's 2015 budget proposal, which was released today, would provide state and local tax exemption on electricity generated and sold from customer-sited solar systems. This resolves an ambiguity in current New York state law and removes a hurdle which has been inhibiting the widespread adoption of solar energy by businesses and institutions across the state. The solar sales tax exemption is an important complement to the NY-Sun Initiative, a suite of policies and programs announced by the Governor in his 2013 State of the State address.

SunEdison has over 150 megawatts of solar systems under development in New York state. These range from state-of-the-art rooftop systems in Brooklyn and upstate New York, to solar farms built on the closed landfill in Staten Island. None of these clean energy projects would be possible without supportive state policy.

"Governor Cuomo has shown tremendous leadership in encouraging New York's transition to a clean energy economy," said Polly Shaw, Vice President of Government Affairs at SunEdison. "NY-Sun has become the playbook for encouraging private sector investment in solar and other forms of clean energy through targeted incentives, and long-term policy stability and certainty." 

In addition to the solar sales tax exemption, Governor Cuomo also highlighted the Reforming Energy Vision (REV), a landmark initiative to reshape and modernize New York's century-old electricity generation and delivery platform.

"The REV initiative is an excellent way to unlock the value of renewable energy for the state and to support a cleaner, more cost-efficient and resilient grid," said Ahmad Chatila, Chief Executive Officer for SunEdison. "We look forward to working with the Cuomo Administration to bring the progressive vision of the REV initiative to the people of New York."  

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.

SOURCE SunEdison, Inc.