SunEdison LLC has secured a three-year, $50 million construction revolver with Rabobank International for the deployment of solar PV power plants in the U.S.
SunEdison will utilize the revolver to finance construction of projects at client (host) locations. Upon completion, the solar hosts will buy the energy produced at prices at or below retail rates while avoiding up-front costs typically associated with solar deployments, the company explains.
Currently sized at $50 million for U.S. projects, the construction revolver is expected to expand significantly over the life of the deal with the addition of more lenders. Projects will range in size from small commercial to utility-scale.