SunEdison Secures Solar Construction Revolver

BELTSVILLE, Md. — SunEdison has secured a three-year, $50 million construction line of credit with Rabobank International to construct solar photovoltaic power plants in the United States, the solar development company announced.

 

SunEdison will use the funding to finance construction of photovoltaic power plants at client locations. When completed, clients will buy the power produced by the installations at prices at or below market rates. The arrangement allows clients to go solar without having to make costly capital outlays associated with installing their own solar power systems.

 

The construction revolver is currently sized at $50 million for U.S. projects, and is expected to expand significantly over the life of the deal with the addition of more lenders.  Projects will range in size from small commercial to utility scale.

 

SunEdison currently has close to 250 megawatts of solar projects around the world.

 

Rabobank, a Netherlands-based financial services provider, provides institutional and retail banking services to the international agricultural and renewable energy markets. The bank possesses over $850 billion in total assets and operates in forty countries. It has a triple A credit rating from Standard & Poor’s and Moody’s.