SunEdison, JPM invest in solar energy development fund
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SunEdison, JPM to invest in solar energy development fund

9:56 AM, 30th December 2014
SunEdison, JPM to invest in solar energy development fund

BELMONT, US: SunEdison Inc, a leading global solar technology manufacturer and provider of solar energy services, announced an agreement with JPM Capital Corporation (JPM Capital) whereby they will invest up to $75 million in a $175 million solar energy development fund. TerraForm Power, Inc will also invest $100 million in the fund, and will use the financing to purchase up to 60 megawatts of solar power projects that SunEdison will develop and construct in 2014 and 2015. This funding enables SunEdison to continue to offer advantageous pricing and financing to customers, and grows TerraForm Power’s already robust project pipeline.

“This fund enables TerraForm Power to make substantial acquisitions that strengthen our position as a leader in the highly fragmented solar energy market. Our partnership with SunEdison together with JPM Capital’s investment commitment positions TerraForm Power to continue our expansion in this fast-growing, high-margin segment,” said Carlos Domenech, President and Chief Executive Officer, TerraForm Power.

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