Last year SunEdison confirmed its intention to float a yieldco vehicle, taking advantage of a trend that has allowed a growing number of renewables developers to raise cheaper capital than they normally can.

In February SunEdison, which has nearly 2GW of operational PV capacity on its books, submitted a registration statement to US regulators regarding the planned IPO.

Today SunEdison announced that Goldman Sachs will extend an initial $250m loan facility to SunEdison Yieldco, which it will use to snap up projects owned by SunEdison as well as third-party developers.