DLL Commits $52.5 Million To SunEdison Financing Fund
With many solar companies seeking capital to meet their debt obligations, let alone build new projects, SunEdison (WFR :NYSE) scored a small victory today by announcing that De Lage Landen Financial Services (DLL) is investing $52.5 million into a sale-leaseback fund.
A subsidiary of MEMC Electronics, SunEdison will use the investment to develop commercial and municipal distributed energy projects in the United States.
The funding is consistent with MEMC’s near-term goals. During their Q3 2012 investor call the company commented that they would be focusing on smaller, utility-scale projects as they were easier to develop and fund.
Investors should take some relief in the fact that DLL is willing to invest in the beleaguered solar industry. While the money involved is not overly substantial, for DLL’s parent company, Rabobank, it is a respectable amount.
Shares of MEMC were up 0.68 percent in afternoon trading.