SunEdison has closed a non-recourse debt financing arrangement with Deutsche Bank to finance the construction of a 56 MW portfolio of four utility-scale photovoltaic solar projects in the U.K.
The projects are located in Swindon, Wiltshire, North Devon and on the Essex/Suffolk border, and are expected to be fully operational by the end of March. SunEdison will acquire the entire portfolio of projects once interconnected through share purchase agreement.Â
Once operational, the solar power plants will be managed by the SunEdison Renewable Operation Center. The energy produced from the projects will be purchased from SunEdison by SmartestEnergy.