SunEdison closes on $160m DG fund

SunEdison has closed a $160m lease pass-through fund for distributed generation projects in the US with Barclays and Citi, a structure that will provide the tax equity for 40 projects.

The portfolio includes a mix of ground-mounted, rooftop and canopy PV systems with an average size of 1.1MW per project.

The three companies says the fund's innovative financial structure design enables efficiencies for the tax equity investor. 

The investment structure will allow SunEdison to accelerate the growth of its distributed generation portfolio for commercial and industrial customers, a segment where it is the US market leader. 

"We are excited to complete this new fund with Citi and Barclays," says Ryan Bennett, vice president of project finance, North America, at SunEdison.

"SunEdison is pioneering new financing structures and cutting-edge solar offerings with top tier partners.”