SunEdison closed $160 million debt financing for project in Chile

By Lisa Kerner

Charlotte, N.C., July 28 – SunEdison, Inc. announced it closed a $160 million long-term, non-recourse debt financing arrangement with CorpBanca and DNB for construction of the 110-MW DC Quilapilun solar power plant in the metropolitan region of Chile.

CorpBanca is also providing a Chilean peso VAT facility, according to a news release.

TerraForm Power, Inc. intends to acquire the power plant once it is operational.

CorpBanca and DNB acted as mandated lead arrangers, underwriters and hedge providers of the project financing.

SunEdison is a Belmont, Calif.-based solar technology company. TerraForm is a Bethesda, Md., company that owns and operates clean energy power plants.

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