Key Developments: Sunedison Inc (WFR.F)

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Latest Key Developments (Source: Significant Developments)

Google Inc executes investment in SunEdison Inc's solar plant
Wednesday, 10 Sep 2014 07:00am EDT 

SunEdison Inc:Says Google Inc has agreed to provide $145 million in equity financing for the Regulus solar plant.Located in Kern County, Calif., the Regulus plant will begin operation later this year, and will supply power to Southern California Edison through a 20-year power purchase agreement.  Full Article

Sunedison and Los Pelambres Mine (Antofagasta Minerals) close an agreement to supply solar electric power in Chile
Wednesday, 3 Sep 2014 05:00pm EDT 

Sunedison Inc:Announced that they have reached an agreement for the long-term sale of power to Los Pelambres.Under the agreement SunEdison will supply the power produced by the Javiera solar photovoltaic project, with a capacity of 69.5 megawatts (MW) DC, for operations at Los Pelambres mine.  Full Article

SunEdison Inc partners with community energy on Colorado's Largest Solar Power Plant
Thursday, 24 Jul 2014 07:00am EDT 

SunEdison Inc:Its acquisition of 156 megawatt (MW) DC Comanche Solar project from renewable energy developer Community Energy.SunEdison is partnering with Community Energy to complete final development stage of project by structuring financing and providing procurement expertise for project, following which SunEdison will manage construction, operation, and maintenance of the solar power plant.Construction will begin in 2015 with commercial operation targeted for early 2016.Comanche Solar project is one of TerraForm Power call right projects, whereby TerraForm has option to purchase project from SunEdison once it achieves commercial operation.  Full Article

SunEdison Inc and TerraForm Power announces closing of IPO and related transactions
Wednesday, 23 Jul 2014 06:05pm EDT 

SunEdison Inc and TerraForm Power, Inc:Says TerraForm Power, subsidiary of SunEdison, closed initial public offering of 20,065,000 shares of class A common stock at $25 per share.Underwriters exercised in full their option to purchase an additional 3,009,750 shares.Concurrently TerraForm Power and subsidiaries closed two previously announced concurrent private placements of $65 mln at price per share equal to initial public offering price.Closes acquisition of Mt. Signal solar project and new $300 mln term loan facility and $140 mln revolving credit facility.TerraForm Power received proceeds from initial public offering net of underwriting discounts and commissions and a structuring fee of about $533.5 mln.TerraForm Power also received gross proceeds of $65 mln from sale of class A common stock in private placement transactions.TerraForm Power used $436.2 mln of net proceeds from offering and private placements to acquire newly issued class A units of TerraForm Power, LLC directly from Terra LLC.Used all remaining net proceeds to purchase class B units from SunEdison at price equal to price per share in offering less underwriting discounts and commissions.  Full Article

Southern Nevada Water Authority signs power purchase agreement with SunEdison Inc
Tuesday, 22 Jul 2014 07:00am EDT 

SunEdison Inc:Signed 20-year power purchase agreement (PPA) with Southern Nevada Water Authority (SNWA).Power purchase agreement enables SNWA to lock in significant portion of its energy costs at fixed rate, providing an effective hedge against future increases.As part of agreement, SunEdison will develop, construct, own and operate 14 megawatt (MW) AC solar photovoltaic (PV) power plant, located in Clark County, Nevada.  Full Article

SunEdison Inc announces pricing of initial public offering of TerraForm Power, Inc.
Thursday, 17 Jul 2014 07:15pm EDT 

SunEdison Inc and Terraform Power Inc:Says that TerraForm Power, a subsidiary of SunEdison, has priced an underwritten initial public offering of 20,065,000 shares of its Class A common stock at a price to the public of $25.00 per share.Says the shares will begin trading on the NASDAQ Global Select Market on July 18, 2014 under the ticker symbol TERP.Says in connection with this offering, TerraForm Power has granted the underwriters a 30-day option to purchase up to an additional 3,009,750 shares of Class A common stock at the initial public offering price.Says TerraForm Power will also receive gross proceeds of $65.0 million from the sale of shares of Class A common stock in connection with two concurrent private placement transactions at a price per share equal to the initial public offering price.  Full Article

SunEdison Inc completes acquisition of SRP from AES Corp's subsidiary
Thursday, 3 Jul 2014 07:00am EDT 

SunEdison Inc:Completed its acquisition of a 50 pct ownership stake in Silver Ridge Power LLC (SRP) from a subsidiary of AES Corp for about $178.6 million in cash.Through its ownership in the SRP joint venture, SunEdison now owns a 50 pct interest in - 336 MW of solar power plant operating projects, including the 266 MW Mt. Signal solar project in California.A 40 pct interest in the Tenaska Imperial Solar Energy Center West 183 MW solar power facility to be completed in 2016.The other 50 pct of the outstanding limited liability company interests of SRP remain held by an affiliate of Riverstone Holdings LLC.SunEdison will provide operations and management (O&M) and asset management for SRP's entire projects portfolio.  Full Article

Sunedison Inc, IDB, OPIC and CorpBanca close $ 190 million project financing
Friday, 27 Jun 2014 04:30pm EDT 

SunEdison Inc:Says closing of $155 mln non-recourse debt financing arrangement.Non-recourse debt financing arrangement with Overseas Private Investment Corporation (OPIC), U.S. Government's development finance institution, Inter-American Development Bank (IDB), multilateral lender to Latin America and Caribbean, Clean Technology Fund (CTF), and CorpBanca.Debt proceeds will be used in Chile for construction of 72.8 MWp (megawatt) solar power plant, to inject energy directly into Sistema Interconectado del Norte Grande (SING), selling all its production in the spot market (merchant solar).OPIC is providing $ 48.9 mln of debt, IDB is providing $ 50.3 mln of debt directly and is also administering $ 16.0 mln of debt from CTF, and CorpBanca is providing parallel loan of $ 39.8 mln in addition to providing a local Chilean Peso VAT facility for equivalent of $35 mln.CorpBanca's participation represents the first time a local bank is participating in the senior debt facility for a merchant solar project in Chile.  Full Article

SunEdison Inc and BlueWave Capital agree to 50 megawatt solar asset portfolio acquisition
Thursday, 19 Jun 2014 05:00pm EDT 

SunEdison Inc:Says that SunEdison has agreed to purchase 50 megawatts (MW) of solar photovoltaic (PV) projects from BlueWave Capital LLC.Agreement includes 12 projects jointly developed by BlueWave and SunEdison across Massachusetts, many of which are expected to be operational by June 30 and all of which have qualified under the Massachusetts SREC I or SREC II incentive programs.  Full Article

SunEdison Inc and Riverstone to partner in Silver Ridge Power joint venture
Tuesday, 17 Jun 2014 05:00pm EDT 

SunEdison Inc:Reaches definitive agreement to acquire 50 pct ownership stake in Silver Ridge Power, LLC (SRP) from subsidiary of AES Corporation.Through its ownership in the SRP joint venture, SunEdison will own 50 pct of 336 MW (megawatt) of solar power plant operating projects and 40 pct interest in the Tenaska Imperial Solar Energy Center West 183 MW solar power facility to be completed in 2016.SRP's assets include currently operating 266 MW Mt. Signal solar project in California.Acquisition is expected to close in late June 2014, subject to customary closing conditions and receipt of regulatory approvals.Following the acquisition, the remaining 50 pct of SRP will continue to be held by an affiliate of Riverstone Holdings LLC (Riverstone).After closing, Riverstone and SunEdison expect the joint venture to contribute the Mt. Signal project to SunEdison's yieldco subsidiary.In addition, following completion of Tenaska Imperial Solar Energy Center West project, SunEdison expects to acquire Riverstone's share of SRP's interest in Tenaska Imperial Solar Energy Center West.Also to contribute total of a 40 pct interest in Tenaska Imperial Solar Energy Center West to SunEdison's yieldco subsidiary in 2016.  Full Article

Some fund managers take shine to pricey solar stocks

BOSTON - Some notable fund managers are betting on solar energy shares, expecting a wave of industry consolidation and lower costs to pay off for the notoriously volatile industry.

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