SunEdison, Inc. (NYSE: SUNE), has announced the company has been chosen as the exclusive solar provider for the 250 member school districts of California’s School Project for Utility Rate Reduction (SPURR).
SPURR is an initiative saving its members money by pooling their purchasing power; ensuring schools and community colleges benefit from the best pricing while avoiding the time consuming process of seeking bids themselves.
“Going solar with this program is one of the easiest and quickest things schools and colleges in California can do to start saving money,” said Sam Youneszadeh, managing director of sales for SunEdison. “Educators are really excited about this program because that extra budget means more resources, like teachers and books, for students.”
Michael Rochman, managing director of SPURR, says SunEdison’s pricing and terms were better than anything else SPURR seen in the marketplace, ” and they have the track record to make sure these systems are cared for over their entire life.”
SunEdison says it currently has 82 solar panel system installations across K-12 campuses in California. Among its portfolio is a collective 1.8 MW of solar panel capacity in Rosedale Union School District (RUSD) in Bakersfield, California.
In other recent SunEdison news, the company announced that it and yeildco TerraForm Power, Inc. (NASDAQ: TERP), had secured financing to build five large-scale solar farms in the UK. Collectively, these facilities will have a capacity of 85.2 megawatts and will generate enough electricity to power more than 26,000 homes.
Financing for the solar farms has been provided by Santander Global Banking and Markets (Santander) and Bayerische Landesbank.
SunEdison also recently announced it had raised $590 million dollars to go towards funding its acquisition of First Wind.
“These funds are a major step forward in our acquisition of First Wind,” said Brian Wuebbels, Chief Financial Officer of SunEdison. “Our ability to secure this funding, while preserving the upside in value from our ownership in TerraForm Power, speaks to the strength of the growth platform we are creating.”
With First Wind in its stable, SunEdison will be the world’s biggest renewable power plant developer.
Source: SunEdison
