In November 2009, SunEdison Electronic Materials, Inc. completed the acquisition of privately held Sun Edison LLC, a developer of solar power projects and North America's largest solar energy services provider.
SunEdison "simplifies solar" by managing the development, financing, operation and monitoring of solar power plants for commercial customers, including many national retail outlets, government agencies, and utilities. In a typical structure, SunEdison arranges third party, non-recourse financing for the facility and the customer has no upfront capital outlay.
With one of the strongest brands in solar, SunEdison will continue to operate with the SunEdison name, as a subsidiary of SunEdison.
"This acquisition will provide a third engine of growth for SunEdison," said Ahmad Chatila, Chief Executive Officer of SunEdison. "SunEdison will now participate in the actual development of solar power plants and commercialization of clean energy, in addition to supplying the solar and semiconductor industries with our traditional silicon wafer products."
"Our strategy is to drive revenue growth for our wafer business while SunEdison produces a recurring revenue stream from solar generated electricity. At the same time, SunEdison can directly benefit from the technological and cost advances that we are helping to create with continuing improvements in silicon wafer technology. This acquisition is the beginning of an exciting new chapter in the successful 50 year history of SunEdison."
As a pioneer and global leader in solar power systems innovation, SunEdison creates efficient, money-saving solutions designed to last more than 20 years. In North America alone, SunEdison has:
"By making solar power more affordable and easy to obtain, we expect to tap into a large pent-up demand," added Mr. Chatila. "We believe this strategy will drive revenue growth for our wafer business while producing a recurring revenue stream from solar-generated electricity. This will also allow us to directly benefit from the technological and cost advances that we are helping to create in the solar industry."
For more information on SunEdison, visit their website.
SunEdison utility customer
SunEdison government customer
SunEdison commercial customer