A number of companies took a daring move to penetrate the solar energy market at a time when the solar energy market looked uncertain. Despite the initial challenges in the beginning, quite a number of them made significant steps in securing a solid share in the energy market at both the national and international level.
SunEdison Top 5 Largest Projects
First, on April 2014, SunEdison announced the financial close of the largest operational PV plant in Latin America. By extension, the project is one of the world largest under the solar projects that operate without subsidies or any other major form of government assistance. It is a 50 MW solar power project that is located in the Atacama region, Chile. It brings into the country sound management practices regarding solar and a positive contribution to the government and the people of Chile. It should be noted that Atacama region is a strategic solar energy power plant location due to its high solar energy radiation.
Second, on December 2014, embarked on a successful search for closed debt financing for a solar project in Honduras. The source of funding was initiated through extensive negotiations from various financial institutions. The power that will be generated from the power plants will be supplied to ENEE- the state owned electricity generation, distribution, and transmission company. This will be under a twenty year power purchase agreement. The project came in Handy to help wean Honduras from over reliance on hydropower which has sometimes failed the country.
Third, on March 2015, the company continued to embark on new mega projects all over the world. In that month, SunEdison acquired solar grid storage which is used to develop battery projects. The significance of this is that the use of solar grid storage will help the company have sufficient energy even during times of energy downtime. Solar Grid Storage is a start up business in Philadelphia. SunEdison acquired it together with its four operating storage projects, the project team, and a pipeline.
Fourth, In April 2015, the company formally signed a much awaited agreement to construct three utility scale solar energy projects in Southern Utah that will carry a total of 262 megawatts. The construction of the project is most likely going to begin in the third quarter of this year, all factors remaining constant. Utah hopes that the three solar projects will create jobs and position the state as as a state that will alienate the use of dirty energy in favor of clean energy.
Lastly, in 08 May 2015, the Economic Times announced that SunEdison has purchased two renewable energy projects in India that have a total of 140 MW. Though the amount involved was undisclosed, it will be the largest solar facility in India and will help the country meet its high energy demand. In addition to that, the activities of the company in India will provide a comprehensive solar plant solution to the energy needs of the country. India has high energy needs because of two main reasons; its large population and its massive development projects.
The future for SunEdison
SunEdison is the leading renewable energy development company in the world. The company has not reached the limits yet. Rather, it has laid concrete measures of expansion as well as diversification of its products and services. Overall, SunEdison is a perfect example par excellence of the best strategies of attaining renewable energy goals.
Here is a video showing the scale of one of their 50 Mwatt solar pv projects.
Tracey is an accountant and entrepreneur with a passion for nature. This passion is what spurred her interest in renewable energy, and the rest is history as they say. Tracey is a principal in Energy Think Group, the publisher of Solar Thermal Magazine and Tek-Think. She is also the principal at Women's Financial Help Desk. She spends her free time in the outdoors with her horses and dogs. She loves to travel.