Joint Venture of companies for solar projects

May 23, 2010

SunEdison, the solar utilization division of MEMC Electronic Materials, proclaimed a joint undertaking Tuesday that is accredited to spend as much as $1.5 billion on energy plans. SunEdison has 350 plus solar electric power plants some of which are fully constructed and some are under management. First Reserve Corp., the second side of this partnership, has around $20 billion under the management. Initially, the two will entrust $167 million and could scale up this joint venture to $1.5 billion which is really deserving figure of projects planned by SunEdison. Project acts will be chased in the U.S., Canada, Spain and Italy. Once build up, these plants will be managed and operated by SunEdison only.