SunEdison Starts Construction on Photovoltaic Power Plants in Spain
Under Separate Joint Venture Agreements with Blue-Green Capital and Sunergy, SunEdison Has Seven Megawatts Currently Under Construction
Beltsville, MD & Barcelona, Spain, January 30, 2008
Source: SunEdison/ press release
http://www.sunedison.com/images/press/013008-spain.pdf
SunEdison, a leading global solar energy services provider, has started construction on seven megawatts (MW) of photovoltaic (PV) solar power plants in Spain with joint venture partners Sunergy and Blue-Green Capital. The four ground-mount solar power systems will be completed by the third quarter of 2008.
SunEdison provides equipment supply, financing, design and construction oversight, while Blue-Green-Capital and Sunergy provide local project development services. The expansion of SunEdison into Spain underscores the company’s ability to finance, build, operate and maintain utility-scale solar projects worldwide. In December 2007, SunEdison completed an 8.22MW, 80-acre solar power system in Colorado to support substation loads for Xcel Energy. To date, SunEdison has over 52 MW of hands-on
installation experience and over 31 MW currently under management.
According to Christophe Lövenich, managing partner of Sunergy, “SunEdison has been an excellent joint venture partner with a strong global infrastructure for financing, building, operating and maintaining utility-scale PV systems. As this joint venture builds these projects in Spain, we can work well with existing infrastructure to make photovoltaic solar a significant part of the total energy solution. SunEdison has a deep commitment to utility standards and service, which assures that these and future solar
plants will be well-serviced over a lifetime.”
Added Marc Ballandras, managing director of Blue-Green Capital, “SunEdison has proven expertise in sophisticated utility-scale project financing, key to our joint-venture. Furthermore, we have great faith in SunEdison and its capabilities for ongoing cost reductions of solar installations, since they are a leader in a competitive US solar market. Cost management is essential for future projects in Europe, as subsidized tariffs get decreased and solar moves towards cost parity with conventional energies. We are excited about working with SunEdison as we help Spain meet its ambitious clean energy goals.”
“As a leading global solar energy services provider, our business model is predicated on finding and working with local partners,” stated Tom Rainwater, CEO of SunEdison. “We are excited to be working with local experts Blue-Green Capital and Sunergy on utilityscale projects in Spain. These joint ventures underscore our commitment to finding the best suppliers and partners at the local level to deliver utility-scale PV solar, and to hiring locally to work on these large capacity projects. SunEdison and our partners work very closely with local communities that will be home to these clean power plants.”