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SunEdison Starts Construction on Photovoltaic Power Plants in Spain
BELTSVILLE, Md. & BARCELONA, Spain-(Business Wire)-January 30, 2008 - 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 Lovenich, 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 our 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 utility-scale 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."
About SunEdison
Sun Edison LLC is North America's largest solar energy services provider and operates across a global marketplace. SunEdison provides solar-generated energy at or below current retail utility rates to a broad and diverse client base of commercial, municipal and utility customers. For more information about SunEdison, please visit www.sunedison.com
About Blue Green Capital
Blue-Green-Capital Ltd. is an independent project developer providing distributed solar power generation solutions in markets such as Spain, France and Greece. Blue-Green-Capital builds strong and equitable partnerships with municipalities, local engineering firms and professional sources of finance; so that clean energy becomes a central piece of the infrastructure for our partner communities. For more information, visit http://bg-capital.net/
About Sunergy
Sunergy is a Spanish development and EPC company, and currently has over 20 MW of PV ground-mounted and rooftop projects under development in Spain. Sunergy's strength lies in developing strong relationships with communities and local administrations in order to maintain its strong growth trajectory, maximizing value for all parties involved in the development process.
Note to Editors: There should be an umlaut over the "o" in "Lovenich" above.
