This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

MEMC Announces Creation Of SunEdison Capital, Appoints Carlos Domenech As President

ST. PETERS, Mo., March 13, 2013 /PRNewswire/ --  MEMC Electronic Materials, Inc. (NYSE: WFR) announced today the formation of SunEdison Capital, a new division within its SunEdison subsidiary, and has appointed Carlos Domenech to the newly created position of President.

Building on SunEdison's track record of raising over five billion dollars of project finance capital over the last five years, SunEdison Capital will focus on aggregating capital to develop, build and finance the long-term ownership of solar power plants.  As part of this effort, the division will develop internal and external capital funds and facilities, playing a key role in financing the growth of SunEdison's solar business, including a current solar project pipeline of more than 2.6 Gigawatts, in addition to acquiring new projects.  Utilizing the internal and external capital funds and facilities, SunEdison Capital will lead project and corporate acquisitions and joint venture initiatives for SunEdison's development division. 

As part of SunEdison's capital raising initiatives, SunEdison has invested in and helped to establish EverStream Energy Capital Management, an independent private equity company focused on raising capital and investing in energy transactions.  Through his role in SunEdison Capital, Carlos Domenech will be a Managing Partner of EverStream and will manage the company's investment in and relationship with EverStream. 

"One of the key drivers of growth and competitiveness in the solar industry will be the aggregation of significant amounts of capital to finance and acquire solar projects," said Ahmad Chatila, President and Chief Executive Officer of MEMC. "Access to this capital, at low cost, will be a key differentiator of solar competitiveness and the drive to solar grid parity.  Given Carlos' deep knowledge and experience in the solar field and proven ability to develop innovative solar financing programs and grow our solar development business to over $1.9 billion in sales over the years, he was the clear choice to lead this new division."

Domenech most recently served as President of SunEdison and Executive Vice President of MEMC, where he co-managed the company's Solar Energy business unit, including solar project development, energy sales, business development, pipeline generation, project finance and services. Prior to MEMC's acquisition of SunEdison in 2009, Domenech was Chief Operating Officer of SunEdison. Prior to joining SunEdison, he served in various leadership roles at General Electric.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,139.44 +42.54 0.24%
S&P 500 2,101.98 +3.45 0.16%
NASDAQ 4,984.9560 +17.8150 0.36%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs