SunEdison Inc. has announced a number of initiatives, including launch of a residential power purchase agreement, to solidify its foothold in the market.
SunEdison has signed an agreement with Morgan Stanley to provide tax equity financing for the PPA product in a partnership fund with TerraForm Power, a global owner and operator of clean power plants. “TerraForm is pleased to support the launch of SunEdison’s broader residential solar platform. We look forward to being a long-term owner of these residential assets, which we believe will deliver high quality cash flows and growth to our shareholders from this new market segment,” said Carlos Domenech, CEO of TerraForm Power.
SunEdison has also acquired LightWing, a a comprehensive solar platform solution for utilities and retail energy providers, and an exclusive sales partnership with Evolve, one of the nation’s largest residential solar resellers.
Sun Edison has also signed an exclusive sales partnership with Evolve, one of the nation’s largest residential solar resellers. SunEdison anticipates the partnership will drive significant residential system volume across the new platform. Evolve has proven their capabilities through reaching 40,000 potential consumers each month across 9 states.
“By executing on these initiatives, we’ve enhanced our product portfolio and channel platform to fuel significant growth,” said Vikas Desai , Global General Manager and Senior Vice President of Residential and Small Commercial at SunEdison. “With the addition of a new residential PPA product and greatly strengthened channel and sales capabilities, we’re now positioned to effectively serve every segment of the residential and small commercial market.”
