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De Lage Landen Ups Solar Sale-Leaseback Fund to $100MM with SunEdison

December 04, 2013, 07:00 AM
Filed Under: Energy

SunEdison, a leading global solar energy services and technology provider, announced that De Lage Landen Financial Services (DLL) has increased its investment to over $100 million in a sale-leaseback fund. The fund, originally announced in December 2012, delivers financing to distributed generation solar PV projects developed by SunEdison within the United States and is expected to enable new commercial and municipal customers to realize energy savings through solar energy. The newly funded projects are scheduled for completion in 2013.

"DLL is a great partner for SunEdison and we are excited to expand our relationship with them," said Chris Bailey, Vice President of North America Structured Finance and Corporate Development. "SunEdison is focused on driving industry and company growth, maximizing the retained value of solar energy assets, and building our balance sheet to enable these goals. Our success with the initial fund and our expanded relationship with DLL contributes significantly to these goals."

"We are committed to increasing the availability of clean energy in support of our business and sustainability goals," said Bruce Trachtenberg, VP and Global General Manager Clean Technology at DLL. "Extending our relationship with SunEdison is a clear choice. We know they will take good care of our customers and build reliable solar assets that will produce energy for decades to come."

According to Phillip Jordan, Vice President BW Research, "Solar power makes economic sense for more and more homeowners and businesses in the U.S., but lack of up-front capital has prevented many would-be buyers from entering the market.  My research indicates that increasing the availability of funding for distributed generation solar not only saves businesses money, but creates good paying jobs."

"Distributed generation is one of the fastest growing solar segments in the United States," said Attila Toth, General Manager Distributed Generation for SunEdison. "This relationship with DLL is one of the many ways we are working to help new customers enter the market and grow our business.  Working with a great partner like DLL helps us focus on our core business while increasing shareholder value."

De Lage Landen, a fully owned subsidiary of Rabobank Group, specializes in asset-based financing programs for equipment manufacturers, dealers and distributors all over the world.

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