March 17, 2014
/PRNewswire/ -- SunEdison, Inc. (NYSE:SUNE), a leading solar technology manufacturer and provider of solar energy services, has been awarded
Magazine's prestigious "Latin America Solar Deal of the Year" award for its San Andres solar power plant in
The 50.7 MWp San Andres project is set to become one the largest solar photovoltaic merchant plant in the world. According to
this is the first merchant solar project in
, and the first fully merchant power project anywhere in
. 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
, and marked significant growth for SunEdison and the region. In
SunEdison announced the closing of a
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.
of debt, IFC provided a parallel loan of U.S.
and Rabobank provided a local Chilean Peso VAT facility for the equivalent of U.S.
"We are pleased and proud that
honored this unique project with its award. 'San Andres' represents significant growth for SunEdison and
PV industry, and significant value creation for SunEdison, our investors, and our customers in
, SunEdison's President of EMEA and
. "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
, this year's award holds special meaning for us because it validates our accomplishments in
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.