SunEdison

completed

The proposed project involves a multi-level, multi-region engagement and partnership with Sun Edison LLC (the Sponsor and North America’s largest solar energy services provider) which currently has a significant pipeline of grid-tied solar PV projects (many with signed Power Purchase Agreements) in India and Thailand, and ambitions for further expansion across South & South-East Asia and Sub-Saharan Africa, as declining solar prices and improved regulatory environments create new market opportunities. IFC proposes to provide a portion of the equity financing of the as yet unnamed regional Asian/Sub-Saharan solar development business based in Singapore and with operational teams in Chennai, Bangkok and elsewhere (the “Development Company”) as well as a portion of the debt financing required for five grid-tied solar photovoltaic plants (1 in India and 4 in Thailand). All of the projects will be built by SunEdison’s EPC Company under a fully-wrapped EPC contract which is price and date certain and provides equipment and full-plant performance warranties for the first 2 years of operation. Beyond this the Operation and Maintenance (“O&M”) will be provided by SunEdison O&M Services arm which will provide plant availability warranties and module supplier will provide degradation rate warranties.