SunEdison works out deal for 5 MW of solar projects in Arizona

BELMONT, Calif., Sept. 14, 2015 /PRNewswire/ — SunEdison, Inc. (NYSE: SUNE), the largest global renewable energy development company, today announced that it has contracted with Tucson-based solar developer and EPC firm SOLON Corporation for a 5 megawatt (MW) power purchase agreement and a construction and development agreement for 11 solar projects for Pima County, Ariz.

The county will purchase electricity through a 20-year power purchase agreement at a fixed rate, and expects to enjoy significant energy savings at their Elections Center, recreation areas, and other civic buildings.  The projects will also provide the county with more than 1,800 solar canopy covered parking spots.

“By powering their civic buildings with clean and cost effective solar power, Pima County officials are saving taxpayer dollars and catalyzing economic growth in their community,” stated Rafael Dobrzynski, SunEdison senior vice president and general manager of commercial and industrial solar. “To provide customers like Pima County with industry leading solutions, we team with talented local partners like SOLON. Together, we’re able to deliver best-in-class financing and exceptional execution, built on regional expertise, local relationships, and community engagement.”

SunEdison is providing its high-performance solar panels, construction financing, and development management, as well as the construction specifications for the project.  SOLON originated the project and is performing engineering, procurement, construction and operations and maintenance activities.

SunEdison and SOLON have partnered on more than 22 solar projects to date, totaling more than 13 megawatts of clean, reliable energy.

“SOLON’s partnership with SunEdison is a win-win,” said Brian Seibel, SOLON general manager. “Pima County receives flexible, industry leading project financing coupled with unmatched, local EPC expertise.  Our ongoing relationship with SunEdison allows SOLON to access world class financing, high-efficiency SunEdison solar panels, access to construction capital, and management expertise. We look forward to completing these 11 projects, and many more, with them.”

The solar power plants are expected to generate enough energy each year to power more than 800 homes. The systems avoid the emission of approximately 13.5 million pounds of carbon dioxide, equivalent to the amount of carbon sequestered by more than 5,000 acres of U.S. forests. 

Construction is targeted to begin in the fourth quarter of 2015 with the final site finishing construction in the second half of 2016.

About SunEdison

SunEdison is the largest global renewable energy development company and is transforming the way energy is generated, distributed, and owned around the world. The company develops, finances, installs, owns and operates renewable power plants, delivering predictably priced electricity to its residential, commercial, government and utility customers.  SunEdison is one of the world’s largest renewable energy asset managers and provides customers with asset management, operations and maintenance, monitoring and reporting services. Corporate headquarters are in the United States with additional offices and technology manufacturing around the world. SunEdison’s common stock is listed on the New York Stock Exchange under the symbol “SUNE.”  To learn more visitwww.sunedison.com.

About SOLON

SOLON Corporation is a leading provider of large commercial and utility-scale photovoltaic (PV) system solutions to the North American market. SOLON delivers complete and cost-effective turnkey PV systems to its partners with a streamlined approach from project development, design and construction to financing and operation. To learn more visit www.solon.com.