Multiple Utility-Scale PV Solar Projects

Delphos International is the sole mandated advisor to SunEdison, a leading global PV solar developer, for the financing of four utility-scale PV solar projects in India with total capacity of 45 MW, which is equivalent to approximately $180 million of total project costs. SunEdison is one of the world's leading solar PV developers and owns and manages approximately more than 314 MW of PV solar projects in North America, Europe, and Asia. Its parent company, MEMC, is a Fortune 1000 silicon wafer manufacturer with revenues of over $2 billion.

Equity for Rooftop and Ground-Mounted PV Solar Projects in Multiple Countries:
Delphos International assisted SunEdison to obtain an equity commitment of $55 million from the International Finance Corporation ("IFC") for investment in its two holding companies in Singapore and the Netherlands. The holding companies will develop, acquire, own, sell, operate and manage a portfolio of rooftop and ground-mounted solar PV projects in the South Asia and Sub-Saharan Africa. As the sole advisor to SunEdison, Delphos International conceptualized and structured the investment, built from scratch a multi-country/multi-project financial model, coordinated IFC's due diligence, assisted with client's internal approvals, and helped negotiate the investment agreements.

Raising Debt for Multiple Utility-Scale PV Solar Projects in India:
Delphos International is responsible for arranging senior debt for four PV solar projects in India with a total capacity of 45 MW from a variety of sources including OPIC, IFC, and local commercial banks. In addition, Delphos is responsible all aspects of the financing process, including financial modeling, preparing information memoranda and other disclosure materials, coordinating lender due diligence, negotiating finance agreements, and ensuring prompt disbursement. Delphos International successfully closed and funded the first project of 5 MW using an OPIC loan of $14.7 million in 2011 and the second project of 5 MW using an OPIC loan of $13.8 million in 2012.

Project Details

Client Name: 
SunEdison

Location Region: 
South Asia

Services Provided: 
Project Finance & Investment Support

Industry: 
Solar