Belmont, Calif., July 9, 2012 – SunEdison closed three transactions involving about 98 MW of photovoltaic power plants in Europe during the second quarter.
The transactions include the sale of a 60 MW power plant in Bulgaria to a consortium of investors consisting of an affiliate of First Reserve Energy Infrastructure Fund, Crescent Capital and ACWA Power; a 13 MW portfolio of projects in Italy to Eoxis; and a 25 MW power plant in Italy to an institutional investor.
Bulgaria: SunEdison closed on a transaction involving a 60 MW photovoltaic power plant in Bulgaria with a consortium of investors comprised of an affiliate of First Reserve Energy Infrastructure Fund, Crescent Capital, a Turkish private equity firm focused on energy and backed by EBRD, EIB, and other institutional investors, and ACWA Power, the Saudi Arabia based developer, owner and operator of power generation and water desalination plants across the Middle East and Africa. NOMAC, a unit of ACWA Power, and SunEdison entered into a long-term joint venture agreement to provide operation and maintenance services to the power plant.
The photovoltaic power plant, located in Karadzhalovo (a village in the municipality of Parvomay, Bulgaria) which was interconnected in March, was financed through a euro 155 million non-recourse debt financing arrangement with IFC, a member of the World Bank Group, Overseas Private Investment Corp. and Unicredit.
Italy: SunEdison closed on a transaction involving a portfolio of 13 MW PV projects in Italy with United Kingdom-based Eoxis. The portfolio consists of three projects located in the region of Campania, which were interconnected in late 2011. The assets will be monitored, maintained and operated by SunEdison under long-term agreements.
Italy: SunEdison closed on a transaction involving a 25 MW photovoltaic plant located in Puglia, Italy, operating since the fourth quarter of 2011 with an institutional investor.
In the first full year of operation, the total portfolio is expected to generate sufficient energy to power over 33,000 homes in Italy and Bulgaria and avoid carbon emissions equivalent of removing more than 10,000 cars from the road every year.