SunEdison acquires two solar photovoltaic projects from TransAlta

Toronto, June 16, 2010 – SunEdison, a division of MEMC Electronic Materials, Inc. announced its purchase of two ground-mount solar photovoltaic development projects in Ontario from TransAlta, Canada’s largest publicly traded generator and marketer of electricity and renewable power.

This acquisition is part of SunEdison‘s ongoing activities to accelerate the development of solar PV projects in Ontario.

Under the terms of the sale, SunEdison acquired more than 300 acres of land across two sites near Sandhurst, Ontario (south of Napanee). The first site will be used to develop and construct a 10-MW Renewable Energy Standard Offer Program project. The second site will be developed for Ontario’s Feed-in-Tariff program.

SunEdison will finance, build, own, operate, monitor and maintain the solar energy systems. The Ontario Power Authority will purchase the energy produced under the terms of Ontario’s RESOP and FIT programs, both enabled by Ontario’s Green Energy Act.

SunEdison will work with Hydro One, Greater Napanee officials, and the local community to begin construction on the RESOP project in early 2011. It is estimated the system will offset more than 50 million kilograms of carbon dioxide over the initial 20 years of operation. The timing for the deployment of the FIT project will be determined at a later date.

SunEdison a solar energy services provider. The company finances, installs and operates distributed power plants using proven photovoltaic technologies, delivering fully managed solar energy services for its commercial, government and utility customers.

 

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