SunEdison and TerraForm Power have announced the interconnection of two large-scale solar projects totaling 50 MW DC in the UK.
These projects will be owned by TerraForm Power completely by the end of 2014, and SunEdison will continue with the management part.
This portfolio combines SunEdison and TerraForm Power’s existence in the UK solar market and carry on SunEdison’s growth in the region.
The interconnection and drop-down of these projects shows the mutual benefits of partnership with SunEdison, said, Carlos Domenech, president, CEO, TerraForm Power.
This long-term partnership with TerraForm will help SunEdison to accelerate the growth of its global pipeline. With SunEdison’s projects coming on-line, all will be well- positioned to acquire and generate increased CAFD for investors, added Domenech.
Once operational, the plants will be managed by the SunEdison Renewable Operation Center (ROC), providing global 24/7 monitoring services.
The energy produced from plants will be purchased by Statkraft, through a power purchase agreement.