SunEdison and PermaCity to Build Rooftop Solar in Los Angeles

(Bloomberg) — SunEdison Inc., the best-performing solar
company last year, and California-based developer PermaCity have
agreed to add 22 megawatts of capacity to public and private
rooftops in Los Angeles.

SunEdison and PermaCity will lease rooftops in the area
served by the Los Angeles Department of Water and Power as part
of a contract the agency awarded in 2014 to SunEdison, according
to a statement Tuesday.

Maryland Heights, Missouri-based SunEdison is providing
financing and panels for the projects, while PermaCity will
manage construction. TerraForm Power Inc., SunEdison’s power-plant holding company, will have the option to acquire the
developments after they’re completed.

SunEdison declined 0.9 percent to $20.18 at 11:48 a.m. in
New York. The shares climbed 50 percent in 2014, the most among
peers in the 21-member Bloomberg Intelligence Global Large Solar
Energy index
.

To contact the reporter on this story:
Justin Doom in New York at
jdoom1@bloomberg.net

To contact the editors responsible for this story:
Reed Landberg at
landberg@bloomberg.net
Jim Efstathiou Jr., Steven Frank

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