MEMC Electronic Materials (WFR) announced earlier today that it has purchased the US subsidiary of Fotowatio Renewable which the CEO said provides them with an opportunity to grab a leading position in military solar installations as well as a nice compliment to its Sun Edison solar project subsidiary.  MEMC will pay about $135 million for Fotowatio plus a potential deferred payment of up to around $100 million depending on Fotowatio performance targets.

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