SunEdison Inc., a U.S. solar panel maker and project developer, expects its annual installations to more than double this year.
The company intends to complete solar and wind power facilities with 2,100 to 2,300 megawatts of capacity during 2015, according to a presentation Tuesday. Last year it completed 1,048 megawatts of solar farms, compared with a forecast of 1,000 to 1,100 megawatts.
SunEdison, based in Maryland Heights, Missouri, expects those figures to jump to 2,800 megawatts to 3,800 megawatts in 2016, rising to 3,800 megawatts to 4,000 megawatts in 2017. The company listed a so-called yieldco, TerraForm Power Inc., in July to hold and operate power projects it develops, and it’s buying U.S. developer First Wind Holdings Inc. to expand into other renewable-energy technologies.
“SunEdison is in a very strong position with pipeline in three high-growth areas — utility-scale solar outside the U.S., residential and commercial solar in the U.S. and utility-scale wind on a global level,” said Jacqueline Lilinshtein, a clean-energy analyst with Bloomberg New Energy Finance. “On top of that, this multifaceted pipeline is going to feed into one of the better-performing renewable-energy yieldcos on the public market.”
Global solar installations this year may increase to more than 52,000 megawatts as onshore wind demand rises to almost 60,000 megawatts, according to data compiled by Bloomberg New Energy Finance, a London-based research firm.
Of the capacity it forecasts for 2015, SunEdison plans to retain 1,840 to 2,000 megawatts while selling 260 to 300 megawatts of developments.
The stock gained 3.7 percent to $23.29 at the close in New York. SunEdison climbed 50 percent in 2014, the most among peers in the 21-member Bloomberg Intelligence Global Large Solar Energy Index.