SunEdison Closes Financing on 26-Megawatt California Project

Oct. 23 (Bloomberg) — SunEdison Inc., the best-performing

solar company this year, arranged financing for a 26-megawatt

power plant in California.

The Vega solar farm in Merced County is expected to begin

generating power by the first quarter of next year, St. Peters,

Missouri-based SunEdison said today in a statement. Terms of the

financing underwritten by Deutsche Bank AG weren’t disclosed.

The plant will generate enough electricity for more than 3,500


SunEdison in the last 15 months has committed to developing

158 megawatts of utility-scale solar power in California. The

company said today it completed a 1.7-megawatt roof-mounted

project in Hesperia, which will sell electricity to Edison

International’s Southern California Edison under a 20-year


SunEdison gained 2.5 percent to $18.69 at the close in New

York. The shares have gained about 43 percent this year, leading

the 21-member Bloomberg Intelligence Global Large Solar index.

David Einhorn, president of hedge fund Greenlight Capital Inc.,

said Oct. 20 the stock is worth as much as $32 a share.

To contact the reporter on this story:

Justin Doom in New York at

To contact the editors responsible for this story:

Reed Landberg at

Will Wade, Jim Efstathiou Jr.

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