North Coast Solar Stocks

April 13, 2009

SunEdison activated 86 PV projects in 2008

Filed under: none — Tags: , , , — Jason @ 3:23 pm

4/13/2009 3:23:36 PM

BELTSVILLE, MD.: Solar energy services provider SunEdison activated 86 photovoltaic (PV) solar energy systems in the U.S. during 2008 with a total capacity of 25.5 MW, an amount the company is calling a record. In the fourth quarter of 2008, SunEdison activated 37 PV systems in the United States for a combined capacity of 9.7 MW.

SunEdison said that financing from Wells Fargo & Company was “key” to these activations. Wells Fargo has provided US$250 million in equity capital to solar energy projects since the fall of 2007. More than half of this amount was for PV solar energy systems developed by SunEdison.

A recent example of this collaboration is a Wells Fargo investment in a project jointly developed by SunEdison and Q-Cells and hosted by Staples at its distribution center in Rialto, California. The 441 kW system is operated by SunEdison and includes 1,960 Solar Semiconductor modules using Q-Cells solar cell technology.

“Wells Fargo recognizes long-term value in supporting renewable energy. Our advanced control and monitoring technologies provide both our partners and customers transparency into the economic and energy savings that SunEdison solar provides,” said SunEdison COO Carlos Domenech.

“Despite the economic downturn, Wells Fargo continues to invest in solar projects across the country because these investments help customers secure reliable, cost-effective power and help businesses access cleaner energy sources,” said Barry Neal, director of Wells Fargo’s Environmental Finance.

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