JV terms call for Virginia-based Dominion to invest $500m to acquire 50% of the cash equity and 99% of the tax equity in Four Brothers, including funding of construction.
SunEdison will contribute the balance of capital required to complete the project, which it has fully financed through a $150m, four-year term loan with Deutsche Bank. The $650m financing package fully funds the project for completion and long-term ownership.
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