June 26, 2013 - SunEdison Inc. said Wells Fargo & Co. plans to provide more than $100 million in additional funding to fund solar-power generation projects in the U.S. in 2013 and 2014.
SunEdison builds, manages and operates the solar systems and sells the energy for a fixed rate to its business, public sector, utility and residential customers.
The company, which recently changed its name from MEMC Electronic Materials Inc., also produces chips for electronics and solar-energy applications. Like other solar companies, SunEdison has faced pressure as a glut of supply that has weighed on prices.
Since 2007, Wells Fargo has provided more than $950 million of tax equity and construction financing for more than 200 utility and distributed generation solar projects developed by SunEdison in thirteen U.S. states and in Puerto Rico.