# SunEdison and Deutsche Bank Finance 56 MW of UK Solar - Link: https://greenlivingguy.com/2014/03/sunedison-deutsche-bank-uk-solar-56mw/ - Published: 2014-03-01T19:50:46-05:00 - Author: greenlivingguy ### SunEdison and Deutsche Bank Enters the UK Solar Market ### UK Solar Projects Expanded in 2014 First of all, let’s hear it for SunEdison and Deutsche Bank as they accelerated its UK solar expansion in 2014. That’s starting with a 56-megawatt portfolio of utility-scale photovoltaic projects. Financing from Deutsche Bank helped move four solar developments across England closer to operation. More importantly, the agreement showed how rapidly large-scale solar was becoming an attractive infrastructure investment. Deutsche Bank supplied financial backing while SunEdison developed the projects. Together, the companies demonstrated how private capital could help bring [renewable energy projects from planning to construction](https://greenlivingguy.com/2018/09/construction-commences-for-23-5-mw-solar-power-project-at-six-flags-great-adventure-in-jackson-new-jersey/). The four projects also added new renewable generating capacity to England’s electricity system. Once operating, the solar farms could produce electricity without burning coal or natural gas at the point of generation. Therefore, the portfolio supported the broader transition toward a more diverse and lower-carbon power supply. Meanwhile, the [investment created economic opportunities beyond electricity generation](https://greenlivingguy.com/2020/07/canada-arctic-energy-fund-inuvik-wind-power/). Utility-scale solar required engineers, electricians, construction crews, equipment suppliers and other contractors to bring each project online. Furthermore, the financing reflected growing confidence in photovoltaic technology. Solar costs were falling, projects were getting larger and investors were [becoming increasingly comfortable financing renewable energy](https://greenlivingguy.com/2020/01/costa-rica-to-become-the-worlds-first-zero-carbon-country-reports-climateaction/) infrastructure. Consequently, the 56-megawatt SunEdison portfolio represented more than four new solar projects. It illustrated an important shift in the energy market. [Solar power](https://greenlivingguy.com/2020/01/solar-power-and-solar-panels-technology-advancements-unveiled/) was moving from a developing technology into a serious infrastructure investment. Ultimately, [partnerships between renewable energy](https://greenlivingguy.com/2023/03/a-200-mw-wind-apuiat-project-community/) developers and major financial institutions helped make that transition possible. Deals like the SunEdison and Deutsche Bank agreement provided the capital needed to build projects at scale while strengthening the foundation for continued growth in the British solar market. ## UK Market financed through Deutsche Bank ![Aerial view of a large solar photovoltaic carport installation covering multiple rows of a parking lot, generating clean renewable electricity.](https://i0.wp.com/ greenlivingguy.com/wp-content/uploads/2014/03/0C83B273-AEB6-42B9-BA97-D9F0AB684D8C. png?resize=400%2C251&quality=50&ssl=1) ### Foresight Solar Fund to Acquire Projects Once Interconnected LONDON, Feb. 26, 2014 /[PRNewswire](https://web.archive.org/web/20181004091754/https://prnmedia.prnewswire.com/s?action=doLogin)/— SunEdison (NYSE:SUNE), a leading solar technology manufacturer and provider of solar energy service today announced the closing of a non-recourse debt financing arrangement with Deutsche Bank. The debt proceeds will be used to finance the construction of 56 megawatt (MW) portfolio of four utility-scale photovoltaic (PV) solar projects in the United Kingdom. The portfolio is expected to be fully operational by the end of March 2014. This portfolio marks SunEdison’s entry into the rapidly growing UK solar market. “We are delighted to be involved in this exciting project by providing the financing to our client,” said Michael Volkermann, Co-Head of Infrastructure & Energy from Deutsche Bank. This transaction is evidence of Deutsche’s expertise in supporting companies in the [renewable energy sector by providing](https://greenlivingguy.com/2013/10/solarcity-viridian-team-clean-energy-day-night/) extensive advisory and financial services. ## Deutsche Bank Financed the 56 MW Portfolio SunEdison also announced today that through a Share Purchase Agreement (SPA), Foresight Solar Fund Limited (LSE:FSFL), a £150 million investment company listed on the London Stock Exchange and managed by Foresight Group, will acquire the entire portfolio of projects once interconnected. The projects, which are currently under construction, are located in Swindon, Wiltshire, North Devon and on the Essex/Suffolk border. The Fund commitment to acquire these assets was confirmed in the IPO Prospectus issued by Foresight Group in September 2013 and will be completed utilising the Fund’s IPO proceeds. ![SunEdison and Deutsche Bank UK solar project featuring utility-scale photovoltaic panels, solar installation workers and the British flag.](https://i0.wp.com/greenlivingguy. com/wp-content/uploads/2014/03/0EBCCE32-B19A-42EB-87E4-880434C027D0.png?resize=400% 2C251&quality=50&ssl=1) “We are entering the UK solar market with a project portfolio while expanding our relationship with Deutsche Bank, this demonstrates our ability to utilize existing relationships to enter new markets and facilitate the expansion of our utility business without impacting our balance sheet,” said Jose Perez, SunEdison’s President of EMEA and Latin America. We view the [United Kingdom as a high-growth market for solar](https://greenlivingguy.com/2022/04/save-energy-solar-home-for-sustainable-living/) and for our company, we are looking forward to supporting economic growth for the United Kingdom through solar projects that create jobs and support the local economy while delivering predictably priced energy. [For the entire story](https://web.archive.org/web/20181004091754/https://prnmedia.prnewswire.com/s?action=doLogin) ## Conclusion: Finance Helped Scale Utility Solar The SunEdison UK solar projects showed how important financing is to renewable-energy growth. Panels and technology matter, but large projects also need capital structures that allow construction to move quickly. For another example of international solar growth from the same period, see our coverage of [Conergy’s 22-megawatt solar order in the Philippines](https://greenlivingguy.com/2014/03/conergy-wins-22-megawatt-order-in-the-philippines/). ![author avatar](https://secure.gravatar.com/avatar/df91669667126e1290c21ee0342c386e2da19d588d4d9ca6560bd82ed59a9641? s=300&d=monsterid&r=g) greenlivingguy The Green Living Guy, Seth Leitman is an independent power producer, a green living expert, and Editor of the McGraw-Hill, TAB Green Guru Guides. Seth is also an Author, Radio Host, Reporter, Writer and an Environmental Consultant on green living. The Green Living Guy writes about green living, green lighting, the green guru guides and more. Seth's books range from: # Build Your Own Electric Vehicle by Bob Brant and Seth Leitman (2nd and 3rd editions) # Build Your Own Plug-in Hybrid Electric Vehicle by Seth Leitman # Build Your Own Electric Motorcycle by Carl Vogel # Green Lighting by Seth Leitman, Brian Clark Howard and Bill Brinsky # Solar Power For Your Home by David Findley # Renewable Energies For Your Home by Russel Gehrke # Do-it-Yourself Home Energy Audits by David Findley # Build Your Own Small Wind Power System by Brian Clark Howard and Kevin Shea # and more green living books to follow. [See Full Bio](https://greenlivingguy.com/author/greenlivingguy/) [ ](https://greenlivingguy.com/author/greenlivingguy/)