SunEdison, a subsidiary of MEMC Electronic Materials, has completed the sale of 98MW of photovoltaic plants in Europe.
The transactions include the sale of a 60MW power plant, located in the village of Karadzhalovo, Bulagaria to a consortium of investors, including an affiliate of First Reserve Energy Infrastructure Fund, Turkish-based Crescent Capital, the European Investment Bank, and Saudi Arabia’s ACWA Power.
The plant, which received in €155m funding from World Bank Group member IFC, Overseas Private Investment Corp and Unicredit, was grid-connected in March 2012.
SunEdison president, Carlos Domenech, said: "These transactions are a perfect example of SunEdison’s continued ability to structure and execute complex transactions, while aligning world class investors who recognize the growing role solar plays in fulfilling today’s energy needs worldwide."
SunEdison also sold a 13MW portfolio of projects in Italy to UK-based Eoxis and a 25MWp power plant in Italy to an institutional investor.
In a separate transaction, SunEdison closed, jointly with Eoxis, the financing of two of the projects included in this portfolio, through a €24.9m senior debt facility with Centrobanca, a corporate and investment bank.
Image: The three solar plants will meet the electricity needs of 33,000 homes in Italy and Bulgaria. Photo:Mhassan abdollahi.