Combined, The Three Projects Represent The Largest Solar Power Development In Central America To Date BELMONT, CALIFORNIA (DECEMBER 15TH, 2014) - SunEdison Inc. (NYSE:SUNE), a leading solar technology manufacturer and provider of solar energy services, announced today the closing of an approximately 146 million USD non-recourse debt financing arrangement with the International Finance Corporation (IFC), the Central American Bank for Economic Integration (CABEI) and the OPEC Fund for International Development (OFID). The debt proceeds will be used to fund construction of three solar photovoltaic power plants totaling 81.7 megawatts in the Republic of Honduras. This will be one of the first large scale grid-connected solar projects in the country, and diversifies the energy mix in Honduras while providing clean, renewable energy. In early 2014 the Government of Honduras awarded contracts for nearly 600 megawatts of solar power; SunEdison received the largest award totaling 81.7 megawatts. SunEdison's 81.7 megawatt development will be comprised of three solar plants - Pacifico (23.3 megawatts), Choluteca I (23.3 megawatts) and Choluteca II (35.1 megawatts). These solar plants will provide energy to the national grid under 20-year power purchase agreements with ENEE, the state-owned electricity generation, transmission and distribution company. The three plants will be constructed in the region of Choluteca, Honduras, and are expected to be interconnected during the second half of 2015. This project represents the largest renewable energy development in Central America to date. SunEdison will operate and manage the solar projects under a long-term operation and maintenance agreement and management services agreement. Jose Perez, President of SunEdison for Europe, Middle East, Africa and Latin America, stated: "We are delighted to enter this new high-growth market with world-class financial institutions like the IFC, CABEI and OFID. Solar energy will play a key role in meeting Honduras' growing energy demand and will reduce the country's dependency on imported fuel. This latest project demonstrates that SunEdison continues to lead as the largest renewable energy developer in Latin America"." "Renewable energy is a priority for IFC in Central America. We focus on first-of-a-kind projects that demonstrate technical feasibility, attract additional private financing, and encourage key policy reforms," said Gabriel Goldschmidt, IFC Head for Infrastructure in Latin America and the Caribbean. "By helping Honduras develop its solar resources, we are signaling our commitment to this critical sector, helping to reduce oil imports, and lowering the cost of energy for the country's industries and consumers." Dr. Nick Rischbieth, President of CABEI stated we're pleased to support this project, which demonstrates the institution's capability to deliver resources that support Honduras's National Energy Strategy while bringing competitively priced clean electricity to the market. This project helps bridge the gap between energy supply and demand, and furthers the development of the energy sector in the country"." Tareq Alnassar, Head of Department of Private Sector and Trade Finance Operations of OFID welcomed the arrangement. "OFID is proud to be a partner in this ground- breaking project, which aligns perfectly with our strategic focus to alleviate energy poverty and our commitment to support renewable energy solutions"." The IFC provided direct financing for 85.9 million USD, including 65.5 million USD senior debt and 20 million USD subordinated debt. IFC's funding included 19.5 million USD in concessional senior and subordinated debt from the Clean Technology Fund, as well as 20.7 million USD senior debt from institutional investors under the Managed Co-Lending Portfolio Program. IFC played a leading role in bringing CABEI and OFID, which provided 45.0 million USD and 15.0 million USD respectively. The total financing for the project is approximately 146 million USD, of which 125.9 million USD is senior debt.ABOUT SUNEDISON SunEdison is a global leader in transforming how energy is generated, distributed and owned. SunEdison manufactures solar technology and develops, finances, installs and operates distributed solar power plants, delivering predictably priced electricity and services to its residential, commercial, government and utility customers. SunEdison also provides 24/7 asset management, monitoring and reporting services for hundreds of solar systems worldwide via the company's Renewable Operation Center (ROC). SunEdison has offices in North America, Europe, Latin America, Africa and Asia. SunEdison's common stock is listed on the New York Stock Exchange under the symbol "SUNE." For more information, please visit www.sunedison.com.ABOUT IFC IFC, a member of the World Bank Group, is the largest global development institution focused exclusively on the private sector. Working with private enterprises in about 100 countries, we use our capital, expertise, and influence to help eliminate extreme poverty and boost shared prosperity. In FY14, we provided more than 22 billion in financing to improve lives in developing countries and tackle the most urgent challenges of development. During the past ten years, IFC has committed 578 million USD for renewable energy projects in Central America, including 351 million USD mobilized from partner institutions. For more information, visit www.ifc.org.ABOUT THE CLEAN TECHNOLOGY FUND The Climate Investment Funds (CIF) are unique financing instruments designed to accelerate transformational change towards low-carbon and climate-resilient development through scaled-up financing channeled through the Multilateral Development Banks, including IFC. The Clean Technology Fund (CTF), one of the CIF funds, provides developing countries with positive incentives to scale up the demonstration, deployment, and transfer of technologies with a high potential for long- term greenhouse gas emissions savings. For more information visit www.climateinvestmentfunds.org.ABOUT CABEI CABEI is a supranational development bank focused on Central America and founded in 1960. CABEI's Strategy for supporting the Central American energy sector promotes initiatives that generate energy through renewable sources, such as hydro, wind, biomass, geothermal and solar, which benefits the region through the reduction of electricity costs, the stabilization of the electricity distribution system and reduction of greenhouse gas emissions. Since its foundation, CABEI has approved more than 170 projects with total investment of US3.8 billion, equivalent to 38% of the installed capacity in the Central American region. For more information visit www.bcie.org.ABOUT OFID The OPEC Fund for International Development (OFID) is the development finance institution established by the Member States of OPEC in 1976 as a collective channel of aid to the developing countries. OFID works in cooperation with developing country partners and the international donor community to stimulate economic growth and alleviate poverty in all disadvantaged regions of the world. It does this by providing financing to build essential infrastructure that meets basic needs-such as food, energy, clean water and sanitation, healthcare and education-and works to promote productivity, competitiveness and trade. Energy poverty alleviation is a key strategic goal for OFID, and it is working with its partner countries to prioritize universal access to sustainable energy services. For more information, please visit www.ofid.org.FORWARD-LOOKING STATEMENTS Certain matters discussed in this press release are forward-looking statements, including that the debt proceeds will be used to fund construction of three solar photovoltaic power projects totaling 81.7 megawatts in the Republic of Honduras; these projects are expected to be interconnected during the second half of 2015; this project represents the largest renewable energy development in Central America to date; SunEdison will operate and manage the solar projects under a long-term operation and maintenance agreement and management services agreement; and Solar energy will play a key role in meeting Honduras' growing energy demand and will reduce the country's dependency on imported fuel. Such statements involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Potential risks and uncertainties include changes in applicable regulatory requirements and incentives for production of solar power; and general business and economic conditions, including seasonality of the industry, and other risks described in SunEdison's filings with the United States Securities and Exchange Commission. These forward-looking statements represent SunEdison's judgment as of the date of this press release. SunEdison disclaims, however, any intent or obligation to update these forward-looking statements.(+) * PDF / SUNEDISON, IFC, OFID AND CABEI CLOSE 146 MILLION USD PROJECT FINANCING TO DEVELOP 81.7 MEGAWATTS OF SOLAR IN HONDURAS [PDF, 300 KB] # Permalink
SunEdison To Invest More Than 700 Million USD TerraForm Power Intends To Acquire The Projects Once Interconnected Between 2015 and 2016 BELMONT, CALIFORNIA (15 DE DICIEMBRE DE 2014) - SunEdison Inc. (NYSE:SUNE) a leading solar technology manufacturer and provider of solar energy services, today announced that the National Energy Commission in Chile has awarded SunEdison a contract to supply 570 gigawatt hours of clean energy a year. To meet the demand, SunEdison will be investing more than 700 million USD to develop 350 megawatts of utility scale solar photovoltaic power plants throughout the country. The plants will be added to the call right list of TerraForm Power, Inc. (Nasdaq: TERP), a global owner and operator of renewable energy power plants. Electricity generated by SunEdison's solar photovoltaic (PV) power plants is now 10%-25% lower cost - without subsidies or incentives of any kind - than electricity generated by fossil fuels in Chile. The National Energy Commission in Chile recently changed the bidding process used to award electricity supply contracts for the regulated market to create a more level playing field across different kinds of energy. With these changes, SunEdison was able to bid on and win supply contracts for 570 gigawatt hours of solar energy. SunEdison was awarded the provision of 190 gigawatt hours per year during the daytime block which begins in 2016 and a further provision of 380 gigawatt hours per during the daytime block which will become operational in 2017. The solar energy generated through SunEdison's 350 megawatts utility scale projects will be purchased by local energy commercialization companies under 15 year power purchase agreements. "This project demonstrates SunEdison's ability to provide innovative energy solutions and compete on equal footing in the Chilean regulated market," stated Jose Perez, president of SunEdison for Europe, Middle East, Africa and Latin America. "Without incentives or subsidies of any kind, solar energy is 10-25% more affordable than imported fossil fuels in Chile. This bid represents a portfolio of strategic projects for SunEdison that will help diversify the energy mix of the Chilean grid and will help resolve the country's energy supply deficit using clean, sustainable renewable energy at competitive electricity prices. Perez added: "This award allows us to continue our steady growth as the leading renewable energy developer in Chile and Latin America." "We are proud to partner with SunEdison to make this milestone event in energy provision in Chile a reality, and we're pleased to continue to expand our portfolio of renewable energy assets in high quality energy markets," said Carlos Domenech, president and chief executive officer of TerraForm Power. "As we acquire these power plants over the next several years, we will adding to our substantial base of facilities with high-quality, long-term power purchase agreements that are not affected by fossil fuel price changes. Contracts like these demonstrate the cost advantage that solar and wind generation has established over conventional generation in many markets. Lower oil prices will not reverse this advantage and we expect it to continue to drive rapid growth in the deployment of renewables."ABOUT SUNEDISON SunEdison is a global leader in transforming how energy is generated, distributed and owned. SunEdison manufactures solar technology and develops, finances, installs and operates distributed solar power plants, delivering predictably priced electricity and services to its residential, commercial, government and utility consumers. SunEdison also provides 24/7 asset management, monitoring and reporting services for hundreds of solar systems worldwide via the company's Renewable Operation Center (ROC). SunEdison has offices in North America, Europe, Latin America, Africa, India and Asia. SunEdison's common stock is listed on the New York Stock Exchanges under the symbol "SUNE." To learn more visit www.sunedison.com.ABOUT TERRAFORM POWER TerraForm Power (NASDAQ: TERP) is a renewable energy leader that is changing how energy is generated, distributed and owned. TerraForm Power creates value for its investors by owning and operating renewable energy power plants. For more information about TerraForm Power, please visit www.terraform.com.FORWARD LOOKING STATEMENTS Certain matters discussed in this press release are forward-looking statements, including SunEdison will be investing more than 700 million USD to develop 350 megawatts of utility scale solar photovoltaic power plants throughout the country; electricity generated by SunEdison's solar photovoltaic (PV) power plants is now 10%-25% lower cost, without subsidies or incentives of any kind, than electricity generated by fossil fuels in Chile; SunEdison was awarded the provision of 190 gigawatt hours per year during the daytime block which begins in 2016 and a further provision of 380 gigawatt hours per during the daytime block which will become operational in 2017; solar energy generated through SunEdison's 350 megawatts utility scale projects will be purchased by the National Energy Commission under a 15 year power purchase agreement. Such statements involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Potential risks and uncertainties include changes in applicable regulatory requirements and incentives for production of solar power; and general business and economic conditions, including seasonality of the industry, and other risks described in SunEdison's filings with the United States Securities and Exchange Commission. These forward-looking statements represent SunEdison's judgment as of the date of this press release. SunEdison disclaims, however, any intent or obligation to update these forward-looking statements.(+) * PDF / SUNEDISON TO DEVELOP 350 MEGAWATT SOLAR POWER PLANTS IN CHILE - GENERATES ENERGY AT LOWER COST THAN FOSSIL FUELS WITHOUT SUBSIDIES OR INCENTIVES [PDF, 250 KB] # Permalink
The 737-acre 82 MW DC solar photovoltaic (PV) power plant is in representatives on an entranced gas and oil ring, and request be comprised of snooty 248,000 SunEdison mono-crystalline solar PV modules. Considering dynamic, Regulus is ordinary to commodities abundance energy to downright power snooty 10,000 homes, with CO2 reductions similar to not burning 125 million pounds of coal annually.
"From environmental the technology, to constructing the ease, to establishing self-possessed superior monetary partnerships with leaders sweetheart Google, Prudential and Santander Waterside, N.A., Regulus is a top example of how SunEdison's along the length border benefits somebody complex in a solar project," held Bob Powell, travel, North America at SunEdison. "That we've beforehand ended such improvement on a project that mediocre bottom in December 2013 is a headstone to the pluck and efficiency of our process."
"We choose the world requirements a wide hodgepodge of clean energy technologies, everybody plateful different requirements," held Score Coons, renewable energy fundamental at Google. "This project with SunEdison existing an attempt to effort an old gas and oil ring and turn it fashionable a clean energy producing solar station. It ended suffer to mainstay it on merged levels."
Google has signed agreements to fund snooty 1.5 billion in renewable energy investments across three continents with a unqualified sensible command of elder than 2.5 GW (gigawatts). This contract represents the 17th renewable energy investment project for Google and supports its continued put towards a clean energy cutting edge.
Prudential Bank account Club, a Prudential Financial asset convention business, and Santander Waterside, N.A., one of the principal be snapped up banks in the U.S. by deposits, provided air financing for the project. The Santander Club has supported the representatives of snooty six gigawatts of U.S. renewable energy projects in the role of 2011, having invested elder than 2 billion candid price, wake equity and tax equity in 36 transactions.
"Our reveal in the Regulus responsibility with SunEdison letters our seventh bank-institutional hybrid financing executed in safe with Prudential Bank account Club," held Jorge Camina, figure of project and grip finance in the Link States for Santander.
Ric Abel, getting by boss of Prudential Bank account Group's Close Finance Club - Consequence, furthered, "This financing attempt not very soon legal us to extend on our former plan with SunEdison and Santander, but then to mainstay California's goals for a clean energy cutting edge."
TerraForm Consequence, the possessor of the system, is sweeping statement owned by SunEdison and reflects the company's loyalty to the facet and desire air satisfaction of their solar systems. Operation and maintenance for the system request be performed by the SunEdison Renewable Operation Central part (ROC), which provides by and large 24/7 asset convention, monitoring and television journalism martial.
About SunEdison
SunEdison is a by and large supervisor in transforming how energy is generated, spread and owned. SunEdison manufactures solar technology and develops, plan, installs and operates spread solar power plants, delivering as you might expect priced electricity and martial to its urban, commercial, ruling and constructiveness clients. SunEdison then provides 24/7 asset convention, monitoring and television journalism martial for hundreds of solar systems transnational via the company's Renewable Operation Central part (ROC). SunEdison has offices in North America, Europe, Latin America, Africa, India and Asia. SunEdison's party stock is behind on the New York Squirrel away Dialogue under the grade "SUNE." To take notice of elder escort www.sunedison.com.
