SunEdison obtains funds for 82 MW of solar parks in Honduras

Dec 15, 2014 - US solar technology maker SunEdison Inc (NYSE:SUNE) said today it had struck a deal to get a USD-146-million (EUR 117m) non-recourse loan to back the construction of 81.7 MW of solar parks in Honduras.

As much as USD 85.9 million of the total will come from the World Bank’s International Finance Corporation (IFC). The Central American Bank for Economic Integration (CABEI) and the OPEC Fund for International Development (OFID) will provide USD 45 million and USD 15 million, respectively.

About 125.9 million of the total financing will come in the form of senior debt.

SunEdison intends to build three solar parks under a government initiative to award power purchase agreements (PPAs) for 600 MW of solar capacity at the start of the year. These are the 23.3-MW Pacifico, the 23.3-MW Choluteca I and the 35.1-MW Choluteca II plants in the region of Choluteca. They will be connected to the grid in the second half of 2015, with their output to be sold to state-owned utility Empresa Nacional de Energia Electrica (Enee) for 20 years.

(USD 1.0 = EUR 0.804)

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