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 sheaman42 rated 14 months ago - From the page: "Maryland-based SunEdison LLC has, without detailed explanation, raised $161 million dollars in equity and debt funding by finding new investors and pressing current ones to increase their stake in the solar installation and financing services firm. The only comment by the corpo... more
- Tags: environment, solar-power
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- sheaman42 rated 14 months agoenvironment, solar, solar-power
- From the page: "Maryland-based SunEdison LLC has, without detailed explanation, raised $161 million dollars in equity and debt funding by finding new investors and pressing current ones to increase their stake in the solar installation and financing services firm. The only comment by the corporation on the matter was that the additional funding would be used to finance continuing operations, a carefully crafted phrase that can imply anything from impending financial doom to the nearing dawn of a massive project that one would imagine would take 161 million dollars.
In the past SunEdison has been aggressive in their business strategy, but nothing like thisâ€" in 2006, they raised 26.1 million dollars from two venture capital groups, Goldman Sachs Group and Mission Point Capital Parters, and have been recently signing a series of agreements with utilities like Duke Energy North Carolina and Constellation Energy Commodities. Dukeâ€s contract was for the largest solar array in the nation, a 16 megawatt project in Davidson County North Carolina. Constellation, meanwhile, is spreading 4 megawatts of solar projects across Maryland in SunEdisonâ€s own backyard."
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