Partnering with Morgan Stanley to make tax equity financing available
immediately, SunEdison is executing a major launch of an innovative
power purchase agreement (PPA) product across seven states. With a newly
expanded channel and sales platform, and through the recent acquisition
of multiple residential power plants with SunEdison subsidiary
TerraForm Power as the long-term asset owner, SunEdison is now firmly
positioned to effectively serve every segment of the residential and
small commercial solar power market.
SunEdison Fueling Up For Significant Growth
In combination with its major PPA product launch with Morgan Stanley, SunEdison, Inc. (NYSE: SUNE) also announced
the acquisition of LightWing, a comprehensive solar platform solution
for utility companies and retail energy providers (REPs), and an
exclusive sales partnership with Evolve, one of the United States’
largest residential solar resellers.
“By executing on these initiatives,” SunEdison Global General Manager
and Senior Vice President of Residential and Small Commercial Vikas
Desai said, “we’ve enhanced our product portfolio and channel platform
to fuel significant growth.” Desai continued, “With the addition of a
new residential PPA product and greatly strengthened channel and sales
capabilities, we’re now positioned to effectively serve every segment of
the residential and small commercial market.”
Morgan Stanley Promotes Clean Energy Investing
The agreement with leading financier Morgan Stanley announced by SunEdison
will provide tax equity financing for the PPA product in a partnership
fund with TerraForm Power. A leading global financial services firm,
Morgan Stanley provides a wide range of international investment
banking, securities, wealth management, and investment management
services. Its worldwide clients include corporations, governments,
institutions, and individuals in more than 43 countries across the
globe.
With special emphasis on sustainable investing, Morgan Stanley’s Institute for Sustainable Investing
seeks to mobilize capital to address pressing global challenges and
identify market-based, scalable solutions. Morgan Stanley is a founding
signatory of the Green Bond Principles, which are voluntary guidelines
for the development and issuance of green bonds, critical for encouraging transparency, disclosure, and integrity in the development of the green bond market.
A pioneer in green bonds, since 2013 Morgan Stanley has led 27 green
bond transactions representing over $15 billion in aggregate principal
amount. Several of these transactions have included notable industry
landmarks, such as launching the first-ever corporate green bond,
the first-ever automobile asset-backed securities green bond, and the
first-ever university green bond in the United States.
TerraForm’s Clean Energy Power Plants
Creating sustainable value for its visionary investors, TerraForm Power (Nasdaq: TERP) has become a renewable energy leader by owning and operating clean energy power plants. TerraForm Power CEO Carlos Domenech stated, “TerraForm is pleased to
support the launch of SunEdison’s broader residential solar platform.
We
look forward to being a long-term owner of these residential assets,
which we believe will deliver high quality cash flows and growth to our
shareholders from this new market segment.”
LightWing and Evolve Solar Supplement the SunEdison Expansion
A significantly broader customer base is now available for SunEdison,
as well, with the company’s recent acquisition of LightWing, a company
which has created a comprehensive solar platform solution specifically
designed for utility companies
and retail energy providers (REPs). SunEdison states that it expects to
see rapid expansion of its channel coverage and significantly increase
its ability to reach new consumers with this well-timed acquisition.
Now exclusively selling SunEdison solar products, the new partnership with Evolve Solar
further supplements the SunEdison expansion with one of the top
residential resellers in the United States with a 250+ strong sales
force. Evolve Solar has proven capabilities for reaching 40,000
potential consumers each month across 9 states, and SunEdison
anticipates the Evolve Solar partnership will now drive significant
residential system volume across the new platform.
The World’s Largest Renewable Energy Development Company
The world’s largest renewable energy development company, SunEdison
is intent on transforming the way clean energy is generated,
distributed, and owned around the globe. With corporate headquarters
based in the United States, SunEdison has additional offices all around
the world. The company manufactures solar technology and develops,
finances, installs, owns, and operates wind and solar energy power plants, delivering predictably priced electricity to its residential, commercial, government, and utility customers.
In addition, SunEdison is one of the world’s largest renewable energy
asset managers and provides asset management, operations and
maintenance, and monitoring and reporting services for its renewable
energy customers all over the world. Picture Credit: SunEdison logo superimposed on Morgan Stanley screenshot by A.A.
http://cleantechnica.com/2015/06/24/sunedison-morgan-stanley-launch-huge-solar-energy-expansion/