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
homes.
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
contract.
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.
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Will Wade, Jim Efstathiou Jr.