SunEdison sells photovoltaic solar project

SunEdison sold its 30 MW Webberville photovoltaic project in Texas to MetLife and Longsol Holdings US Inc. Financial terms of the deal have not been disclosed.

The project was built by Renewable Energy Systems Americas Inc. Construction broke ground in April 2011 and Trina Solar supplied the modules.

Fotowatio Renewable Ventures (FRV), taken over in September 2011 by MEMC Electronic Materials Inc. (NYSE: WFR), the parent company of SunEdison, partnered with Bayerische Landesbank, which fully underwrote the construction debt for the project.

RES Americas will operate and maintain the system for five years. After this, SunEdison is scheduled to take it over for a period of 20 years. A 25-year power purchase agreement was signed with Austin Energy.

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