SunEdison buys 156-MW solar PV project in Colorado

Jul 24, 2014 - US firm SunEdison Inc (NYSE:SUNE) said today it had taken over the 156-MW Comanche solar photovoltaic (PV) scheme in Colorado from developer Community Energy for an undisclosed sum.

The solar power company noted it will assist Community Energy in structuring the funding for the project and in providing procurement expertise. SunEdison will then manage the construction, operation and maintenance of the solar park. The construction phase is expected to commence next year and the plant is to become operational in early 2016.

SunEdison also mentioned that its newly-listed unit TerraForm Power Inc (NASDAQ:TERP) has the option to buy the specific project from it. Yesterday, TerraForm Power said it has raised about USD 533.5 million net from its initial public offering (IPO) on the Nasdaq.

The Comanche solar farm will use over 400,000 SunEdison mono-crystalline PV modules. In March, Community Energy said it would sell the output of the project to utility Xcel Energy (NYSE:XEL) under a 25-year power purchase agreement (PPA).

(USD 1.0 = EUR 0.742)

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