This Day On The Street
Continue to site
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

ProjectFinance Magazine Awards SunEdison "Latin American Solar Deal Of The Year" For Its San Andres Project In Chile

BELMONT, Calif., March 17, 2014 /PRNewswire/ -- SunEdison, Inc. (NYSE:SUNE), a leading solar technology manufacturer and provider of solar energy services, has been awarded ProjectFinance Magazine's prestigious "Latin America Solar Deal of the Year" award for its San Andres solar power plant in Chile.

The 50.7 MWp San Andres project is set to become one the largest solar photovoltaic merchant plant in the world.  According to ProjectFinance Magazine, this is the first merchant solar project in Chile, and the first fully merchant power project anywhere in Latin America. The plant is designed to transmit electricity directly to the Central Interconnected System (SIC) and will sell all of its production in the spot market.

This innovative financing arrangement enabled one of the largest solar PV projects in Latin America, and marked significant growth for SunEdison and the region. In November 2013 SunEdison announced the closing of a $100.4 million non-recourse debt financing arrangement with the Overseas Private Investment Corporation (OPIC) and the International Finance Corporation (IFC), a member of the World Bank Group, for the construction of San Andres in the Atacama region of Chile.  OPIC provided U.S. $62.9 million of debt, IFC provided a parallel loan of U.S. $37.5 million and Rabobank provided a local Chilean Peso VAT facility for the equivalent of U.S. $25.6 million.

"We are pleased and proud that ProjectFinance honored this unique project with its award.  'San Andres' represents significant growth for SunEdison and Chile's PV industry, and significant value creation for SunEdison, our investors, and our customers in Latin America," said Jose Perez, SunEdison's President of EMEA and Latin America. "This award emphasizes SunEdison's ability to develop innovative project finance structures for our solar energy projects.  In 2010 we won this award for our Rovigo solar power plant in Italy, this year's award holds special meaning for us because it validates our accomplishments in Latin America."

SunEdison has Interconnected over 1.4 GW (gigawatts) of solar energy worldwide. Once projects are completed, the SunEdison Renewable Operations Center provides ongoing operations, 24/7 monitoring and alerting, field service dispatch and asset management services. 

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
Only $9.95
14-Days Free
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
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $93.64 -0.11%
FB $118.57 0.84%
GOOG $698.21 0.75%
TSLA $241.80 0.43%
YHOO $36.53 -0.19%


Chart of I:DJI
DOW 17,891.16 +117.52 0.66%
S&P 500 2,081.43 +16.13 0.78%
NASDAQ 4,817.5940 +42.2360 0.88%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs