New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
June 29, 2014
17:00 EDTSUNESunEdison closes financing for merchant solar project in Chile
On Friday evening, SunEdison announced the closing of a $155M non-recourse debt financing arrangement with the Overseas Private Investment Corporation, OPIC, the U.S. Government's development finance institution, the Inter-American Development Bank, IDB, the largest multilateral lender to Latin America and the Caribbean, the Clean Technology Fund, CTF, a multinational fund whose resources are channeled by IDB to support investments aimed at having a transformational impact in the reduction of greenhouse gas emissions, and CorpBanca, one of the most important Chilean commercial banks. The debt proceeds will be used in Chile for the construction of a 72.8 MWp solar power plant, to inject energy directly into the Sistema Interconectado del Norte Grande, SING, selling all its production in the spot market. OPIC is providing $ 48.9M of debt, the IDB is providing $50.3M of debt directly and is also administering the $16Mof debt from the CTF, and CorpBanca is providing a parallel loan of $39.8M in addition to providing a local Chilean Peso VAT facility for the equivalent of $35M. CorpBanca's participation represents the first time a local bank is participating in the senior debt facility for a merchant solar project in Chile.
News For SUNE From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
May 6, 2015
16:38 EDTSUNESunEdison awarded 86 MW DC solar photovoltaic project in South Africa
SunEdison announced it has been awarded an 86 megawatts DC solar photovoltaic project in South Africa during the fourth bid round of the renewable energy IPP procurement program organized by South Africa's Department of Energy. The Droogfontein 2 solar power plant will be located 20 km south of Kimberly in the Northern Cape Province and is expected to produce enough energy to power the equivalent of 45,000 South African homes. Eskom, the South African national utility, will purchase the solar energy under a 20-year power purchase agreement. "We look forward to continuing to work with the Department of Energy in future rounds of the IPP procurement program, which is expected to deliver an incremental 6.3 gigawatts of projects," said the company. SunEdison intends to offer the completed project to the emerging markets-focused yieldco that SunEdison previously announced.
April 30, 2015
13:16 EDTSUNEChinese solars fall after analyst indicates tariff could be scrapped
The shares of Chinese solar stocks are falling after research firm Cowen indicated that China's solar feed-in-tariff program could be altered or canceled in 2016. WHAT'S NEW: After meeting with "numerous solar" companies in China, Cowen analyst Jeffrey Osborne wrote that "there have been discussions around the future of China's national (solar) feed-in tariff program." Solar companies' fourth quarter results may exceed expectations as developers rush to complete projects "if the feed-in tariff program becomes subject to a change, reduction, replacement, or cancellation for 2016 onward," according to Osborne. Moreover, the analyst reported that his conversations indicate that the pricing of solar energy products will bottom in April or May, then be flat to up at the end of Q2. Solar companies' Q1 margins will be challenging due to price drops and foreign exchange fluctuations, the analyst added. However, Q2 orders indicate that pricing has plateaued, while foreign exchange headwinds have eased, according to Osborne. Two to three gigawatts of the five gigawatts of solar energy that China reported were installed in Q1 were probably actually completed last year and then connected to the grid this year, Osborne reported. On a positive note, the analyst, confirming recent reports says that demand for solar energy in China is accelerating. He predicts that demand will spike in Q3, as new projects may not be eligible for the feed-in tariff if they are less than 50% complete by November 30. He identified his favorite names ion the solar sector as Trina Solar (TSL), SunPower (SPWR), SunEdison (SUNE), and Amtech Systems (ASYS). PRICE ACTION: In mid-afternoon trading, JinkoSolar fell 1.5% to $28.80, Trina Solar declined 3% to $12.50, Canadian Solar dropped 3% to $36, SunPower fell 2% to $32.70, JA Solar lost 2.5% to $10.30, and SunEdison dropped 1% to $25.80. .
April 22, 2015
07:11 EDTSUNESunEdison to convert landfill site in Winchendon to 2.6 MW solar power plant
Subscribe for More Information
06:09 EDTSUNESunEdison appoints Pancho Perez as COO
SunEdison announced that Pancho Perez has been appointed to the newly created role of EVP and COO. Perez's appointment extends his role as COO for TerraForm Power to leadership in the same role across the SunEdison platform. Perez has previously served as president of SunEdison Europe, Middle East, and Latin America.

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use