SunEdison and Renova Energia Create Joint Venture to Develop 1 GW of Utility Scale Solar in Brazil

SunEdison and Renova Energia S.A. created an exclusive joint venture to develop, own, and operate 1 GW of utility scale solar PV energy to supply the Brazilian Regulated Electricity Market. Renova and SunEdison will each own a 50% stake in the joint venture. The joint venture plans to build and operate four utility scale solar power plants in Bahia State, Brazil, by 2017; installing 106.9 MW of solar as part of contracts awarded by the Brazilian Energy Commercialization Authority, Camara Comercializadora de Energia Electrica (CCEE). SunEdison will supply solar modules and trackers for the projects, to be assembled in Brazil, and solar plant construction will be financed by the Brazilian Development Bank (BNDES).