Warehouse facility to fund acquisition, development and construction from their original Papa and the public market

19.08.2015: US renewable energy company SunEdison Inc. and West Street Infrastructure Partners III (WSIP), an infrastructure fund managed by Goldman Sachs, have formed a $1 billion construction and operating asset warehouse investment vehicle. According to SunEdison, WSIP have provided an equity commitment of $300 million. The warehouse investment vehicle, which is named WSIP Warehouse, will fund construction costs and acquire operating assets. »SunEdison's new $1 billion warehouse provides incremental capacity for SunEdison to construct and hold assets in advance of drop down to TerraForm Power,« said the company’s CEO Brian Wuebbels. In a separate development, SunEdison has launched a $650 million share offering. The company will offer 650,000 shares of 6.75% Series A perpetual convertible preferred stock at a price of $1,000 per share. The company expects to close the offering on August 21, 2015. SunEdison estimates that net proceeds from this offering will amount to $626.1 million. The company will use these funds for general corporate purposes, including funding working capital and growth initiative. © PHOTON

investors.sunedison.com/phoenix.zhtml?c=106680&p=irol-newsArticle&ID=2080062

investors.sunedison.com/phoenix.zhtml?c=106680&p=irol-newsArticle_Print&ID=2080283

 

 

Monty Bannerman

ArcStar Energy

+1-646-402-5076

www.arcstarenergy.com