US solar firm raises £84.6m for UK projects

A solar energy company in the US has raised £84.6 million for green projects in the UK. SunEdison secured the cash from Bayerische Landesbank for eight large-scale solar farms across […]

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By Priyanka Shrestha

A solar energy company in the US has raised £84.6 million for green projects in the UK.

SunEdison secured the cash from Bayerische Landesbank for eight large-scale solar farms across England and Wales.

They will have a total capacity of 97MW, enough to power nearly 30,000 homes every year.

EDF Energy will buy the solar energy under a 15-year power purchase agreement (PPA) with SunEdison.

The solar firm has so far connected more than 375MW of projects in 12 months. That’s the equivalent to the electricity needs of more than 110,000 homes per year.

Jose Perez, SunEdison’s President of EMEA and Latin America said: “The UK will continue to be a key market for our growth strategy and we look forward to helping the UK reach its renewable energy targets.”

Last month the company launched a service for UK householders and businesses to install solar arrays at no upfront cost.