Connect with us

Hi, what are you looking for?


Clean Power

SunEdison Secures $175 Million Development Fund

Global solar technology manufacturing company and developer SunEdison has announced that it will benefit from a $175 million solar energy development fund, funded by a unit of JPMorgan Chase & Co. and TerraForm Power.

According to the press release, JPM Capital Corporation will invest up to $75 million into the solar energy development fund, while TerraForm Power will invest $100 million, using the financing to purchase up to 60 MW of solar power projects that SunEdison will develop and construct throughout the remainder of 2014 and through 2015. SunEdison

“Putting together a fund with an investment commitment from JPM Capital, one of the world’s leading tax equity investors in renewable energy projects, is an important milestone not only for our company, but for the solar industry as a whole,” said Ryan Bennett, vice-president of project finance, North America at SunEdison.

“This is one of the largest funds of its kind in 2014, and it puts SunEdison and Terraform Power in an ideal position to rapidly grow and expand the solar energy market, all while offering excellent pricing and financing to our customers.”

“This fund enables TerraForm Power to make substantial acquisitions that strengthen our position as a leader in the highly fragmented solar energy market,” said Carlos Domenech, president and chief executive officer of TerraForm Power. “Our partnership with SunEdison together with JPM Capital’s investment commitment positions TerraForm Power to continue our expansion in this fast-growing, high-margin segment.”

SunEdison On An Investment Roll

In November, SunEdison announced that it would become the world’s largest clean energy developer as, working in conjunction with its yieldco subsidiary TerraForm Power, it would acquire First Wind in a deal worth $2.4 billion.

“The acquisition of First Wind transforms both SunEdison and TerraForm Power into diversified renewable energy companies and will make SunEdison the leading renewable power plant developer in the world,” said Ahmad Chatila, President and Chief Executive Officer of SunEdison.

But SunEdison’s acquisition is in no way an isolated incident, as it appears SunEdison has been on a roll of late, being involved in a veritable rush of projects and investment opportunities.

In August, SunEdison announced that it had signed an agreement with Antofagasta Minerals to set up a 70 MW solar PV power plant in Chile, worth $15 million. Not long after, SunEdison moved to increase development in the UK and Australia — by purchasing Australian solar installer Energy Matters — and China, after signing a joint venture with JIC Capital to facilitate financing, development, and construction of up to 1 GW of utility-scale solar PV projects across the country.

This news was followed by a rash of projects, including 5 GW in India (yes, GW), 300 MW in the Philippines, expansion plans in Brazil, and an 82 MW solar power project in Honduras.

And that was only from the first page of stories tagged “SunEdison” on CleanTechnica. It’s not hard to imagine 2015 being an even bigger year for SunEdison.

Appreciate CleanTechnica’s originality and cleantech news coverage? Consider becoming a CleanTechnica Member, Supporter, Technician, or Ambassador — or a patron on Patreon.

Don't want to miss a cleantech story? Sign up for daily news updates from CleanTechnica on email. Or follow us on Google News!

Have a tip for CleanTechnica, want to advertise, or want to suggest a guest for our CleanTech Talk podcast? Contact us here.
Written By

I'm a Christian, a nerd, a geek, and I believe that we're pretty quickly directing planet-Earth into hell in a handbasket! I also write for Fantasy Book Review (, and can be found writing articles for a variety of other sites. Check me out at for more.


You May Also Like

Clean Transport

The Tesla used car market is especially hot, with new car delivery dates extending farther and farther out as demand increases. To many potential...


The MG4 EV is a hot looking new electric SUV/crossover available in Europe. Pricing has just been released in the UK, and it’s quite...


Not since Tesla brought a Model 3 to Brisbane back in 2018 (prior to deliveries in 2019) have I seen such a crowd at...


The complexity of the calculations behind electric vehicle efficacy is highlighted by a recent report from CHOICE magazine. CHOICE is highly regarded in Australia...

Copyright © 2021 CleanTechnica. The content produced by this site is for entertainment purposes only. Opinions and comments published on this site may not be sanctioned by and do not necessarily represent the views of CleanTechnica, its owners, sponsors, affiliates, or subsidiaries.