By Silicon Valley / San Jose Business Journal

SunEdison â¿¿ which develops, finances, operates and monitors solar plants â¿¿ has officially relocated its corporate headquarters from Beltsville, Md. to Silicon Valley's Belmont.

The company specializes in both commercial and residential installations. Despite the rain and clouds, the event on Monday was attended by California Gov. Jerry Brown and is expected to help generate 500 jobs.

SunEdison is the solar power development arm of St. Peters, Mo.-based MEMC Electronic Materials Inc. (NYSE:WFR).

According to a press release from the governor's office, SunEdison finalized the move after Brown in June signed ABX1 15, which allows the stateâ¿¿s solar energy property tax exclusion to apply to sale-leaseback transactions.

Written by Lisa Sibley. She can be reached at 408.299.1830 or

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