The projects were previously added to the call right list of TerraForm Power and are expected to be acquired by the company in early 2015.
Jose Perez, President of SunEdison EMEA and Latin America stated: "We are pleased to partner with Santander and Bayerische Landesbank in this portfolio of projects that will supply the UK market with more renewable energy generation from a competitive and low carbon source."
Perez added, "Securing funds to meet the capital requirements of these projects is another significant milestone for SunEdison this year and strengthens our position as a key player in the solar energy industry in the UK, where we have interconnected 250MW since 2013."
"As today's announcement demonstrates, TerraForm Power and SunEdison continue to work in tandem to expand our clean energy businesses and bring value to our customers and shareholders," said Carlos Domenech, President and Chief Executive Officer of TerraForm Power.
Alejandro Ciruelos, Head of Acquisition and Project Finance, Santander UK said: "We are delighted to continue working with SunEdison in the development of its UK-based solar portfolio. This transaction enhances our position in this market by supporting the strategy of one of our most important clients in the renewable energy sector."
"We are pleased to have been involved in this successful closing of the large scale UK portfolio of 85.2 megawatts for SunEdison," stated Alexander von Dobschutz, Bayerische Landesbank's Managing Director, Global Head Financial Institutions & Structured Finance. "The UK renewables market continues to be an important strategic market for our international project finance business," he added.
About SunEdison
SunEdison is a global leader in transforming how energy is generated, distributed and owned. SunEdison manufactures solar technology and develops, finances, installs and operates distributed solar power plants, delivering predictably priced electricity and services to its residential, commercial, government and utility customers. SunEdison also provides 24/7 asset management, monitoring and reporting services for hundreds of solar systems worldwide via the company's Renewable Operation Center (ROC). SunEdison has offices in North America, Europe, Latin America, Africa and Asia. SunEdison's common stock is listed on the New York Stock Exchange under the symbol "SUNE." For more information, please visit www.sunedison.com
About TerraForm Power
TerraForm Power (Nasdaq: TERP) is a renewable energy leader that is changing how energy is generated, distributed and owned. TerraForm Power creates value for its investors by owning and operating renewable energy power plants. For more information about TerraForm Power, please visit: www.terraform.com.
About Santander Global Banking and Markets
Santander Global Banking & Markets Is the global business unit of Grupo Santander entrusted with meeting the needs of customers which, because of their size, complexity or sophistication, require customized services or value-added wholesale products.
About Bayerische Landesbank
Bayerische Landsbank is an experienced and committed lender to the renewable energy sector, having for many years provided financing solutions to renewable energy companies focused on solar, wind, solar thermal and geothermal technologies, throughout Europe and North America. For more information, please visit www.bayernlb.de