SunEdison announced that De Lage Landen has committed to invest $52.5 million into a sale-leaseback fund. This fund will deliver financing to distributed generation solar PV projects developed by SunEdison within the United States.
De Lage Landen will provide financing through a long-term lease agreement with a SunEdison project subsidiary that efficiently monetizes the tax benefits and cash flows from customer power purchase agreements. “Our commitment to sustainability coupled with SunEdison’s leading industry reputation makes this partnership a great fit that we look forward to growing in the years to come,” stated Mark McGovern, GM – Clean Technology, De Lage Landen.
The financing from DLL will help support SunEdison’s growing portfolio of distributed generation solar energy projects. SunEdison’s aggressive cost structure and DLL’s competitive financing allows SunEdison to offer their commercial and municipal customers energy savings with clean and reliable electricity.
“SunEdison is excited to expand our financing relationships in the U.S. to include DLL with the closing of this fund,” said Chris Bailey, vice president of Project Finance North America. “Developing scalable financial structures with strong partners like DLL is one of the keys to our success and we look forward to growing the fund in 2013.”
No tags available
Bank lessors are the major players in the leasing industry both in the U.S. and in IFRS countries. They are both lessors and lessees. The news from the lease project is very good for U.S. bank lessors but not great... read more
As diminished margins and dwindling earning asset yields create an environment where improved profitability is a constant challenge, Monitor asked its 2015 Bank 50 participants to identify key areas of focus... read more