SunEdison closes funding, begins construction on Texas wind farm

SunEdison ends financing on wind energy project in Texas

SunEdison Inc. (NYSE: SUNE) closed financing and started construction on a 300-MW wind energy project in Texas.

Mortenson Construction is building the South Plains II wind farm, and Vestas is supplying the turbines. Citi provided the construction loan facilities and BHE Renewables will invest in the tax equity. Hewlett-Packard will purchase 112 MW of output to power all of its Texas-based data centers. The remaining 188 MW will be sold to an affiliate of Citi.

Construction is scheduled to be completed in 2016. The project is on the Call Right Projects List for TerraForm Power Inc. (Nasdaq: TERP), which will acquire the project when completed. SunEdison Services will perform operations and maintenance of the plants, which will provide global asset management, monitoring and reporting services.

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