SunEdison Inc. and Wells Fargo & Co. say Wells Fargo subsidiaries plan to invest a total of more than $100 million of tax equity financing in 2013 and 2014 to fund U.S. solar photovoltaic distributed generation power projects developed by SunEdison.
‘Wells Fargo is excited to continue our relationship with SunEdison and expand our commitment to the U.S. solar market,’ says Barry Neal, head of Wells Fargo's Environmental Finance Group. ‘The solar projects developed by SunEdison will help businesses and public entities better control their electricity costs, while expanding the use of renewable energy throughout the U.S.’
SunEdison says that 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 located 13 U.S. states and Puerto Rico.
