The money – split into two non-recourse bridge loans with two-year tenors – comes from Bayerische Landesbank and longstanding SunEd financial partner Santander.
The UK projects had already been added to the call rights list of TerraForm Power, SunEdison’s yieldco.
Having entered the booming UK solar market only last year, SunEdison has already interconnected 250MW of capacity there.
The company has been especially successful in converting pipeline projects in the UK into “backlog” projects, meaning projects with secured PPAs or other incentives – the kind of churn that drives the company’s develop-to-own business model.
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