USA:

Big Solar Company to Branch Out into Other Renewables (Recharge)

SunEdison, one of the biggest global players in the solar energy industry, has announced an intention to invest in other renewable energies, including geothermal energy.

SunEdison, based in Missouri, USA, has doubled its credit facility to $800m, and made amendments to the facility that would allow it to invest into other energy sources – including geothermal, wind, biomass and natural gas.

The doubling of the company’s outstanding credit facility, from $400m to $800m, “will enable SunEdison to capture additional business opportunities and continue our rapid volume growth”, says chief financial officer Brian Wuebbels.

In addition to expanding the size of the facility, SunEdison made two amendments:

The first will allow it to use the money to invest in SunEdison subsidiaries “formed for the purpose of owning subsidiaries that own and operate renewable-energy systems” – a possible reference to yieldcos.

The second amendment made to the credit facility will allow SunEdison to use the funds to invest in “wind, biomass, natural gas, hydroelectric, geothermal or other clean-energy generation systems or hybrid-energy generation systems”.

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