MEMC Electronic Materials (WFR) To Deploy 30MW In Utility Scale Solar Plants In Texas

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08:16:26 pm on October 7, 2010

MEMC Electronic Materials (WFR) subsidiary SunEdison will deploy utility scale solar plants in Texas through a contract with CPS Energy and combined it’s expected to be one of the largest solar facilities in the state.  SunEdison will build, own and operate three solar plants totaling 30MW which will help CPS Energy achieve its renewable energy target of 20%.  Construction will begin next year.  No word on the financials of the deal.

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"SunEdison is committed to the growing Texas solar energy market, and we look forward to expanding our utility scale presence in the state in 2011," said Carlos Domenech, President of SunEdison.  "Our development capabilities, financing power and execution track record, enables municipal utilities, like CPS Energy, to benefit from economically viable solar solutions."

On an unrelated note, WFR also announced it has received $60 million in financing from JP Morgan to fund SunEdison projects in key markets across the US.  With all the good news coming out of SunEdison, I’d say that was one heck of a deal for WFR. 

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