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SunEdison, IFC, OPIC and UniCredit Complete EUR155m Project Financing Arrangement for a 60.4 MWp Solar Power Plant in Bulgaria

March 29, 2012

BELMONT, California, March 29, 2012 /PRNewswire/ –

SunEdison, a leading worldwide solar energy services provider and subsidiary of MEMC
Electronic Materials, Inc. (NYSE:WFR), today announced it has completed a EUR155 million
non-recourse debt financing arrangement with IFC, a member of the World Bank Group,
Overseas Private Investment Corporation
[http://www.google.es/url?sa=t&rct=j&q=opic&source=web&cd=1&ved=0CC4QFjAA&url=http%3A%2F%2Fwww.opic.gov%2F&ei=nPpYT6j-D8ix0QXQy5jLDQ&usg=AFQjCNEl7cgc4MeEMSIdM4ef19TsLDzvVQ ]
(OPIC)
and UniCredit Group for SunEdison’s 60.4MWp solar power plant in Bulgaria. SunEdison
expects to complete the sale of the equity of this power plant in 2012.

(Photo:
http://www.newscom.com/cgi-bin/prnh/20120329/523234 )

IFC provided EUR46.1 million and mobilized an additional EUR41.1 million from
UniCredit through a syndication loan, while OPIC provided a $50 million parallel loan.
UniCredit Bulbank acted as the Bulgarian local bank and provided a local currency VAT
facility worth approximately EUR30 million (58,7 million Bulgarian lev). The total value
of the debt for this transaction is approximately EUR155 million.

Construction of the 60.4 MWp / 50 MWac plant began in September 2011, and it was
interconnected in March 2012. Located in Karadzhalovo – a village in the municipality of
Parvomay, about 160 km southeast of the capital city Sofia – the project covers an area of
100 hectares (equivalent to 100 football fields) and uses more than 214,000 solar modules.
In the first full year of operation, the system is expected to generate sufficient energy
to power 27,000 homes and avoid 37,400 tons of CO2 – the equivalent of removing more than
7,000 cars from the road.

Commenting on the agreement, Pancho Perez, General Manager of SunEdison for Europe,
Middle East, North Africa and Latin America, said: “We are very pleased to collaborate
with IFC, OPIC and UniCredit in this transaction. This project is a perfect example of how
the combination of state-of-the-art technology and SunEdison’s successful track record in
the construction, operation and maintenance of solar power plants creates sound investment
opportunities for our financing partners.” He continued, “Our long-term commitment to
solar projects and our relentless focus on energy production optimization are both key
attributes that lead our financing partners to trust in SunEdison.”

Tomasz Telma, IFC Director for Europe and Central Asia, said, “IFC’s support for
renewable energy is an important part of our work to address climate change. The
investment in Karadzhalavo is our largest single solar financing to date and the fact that
it was completed in just four months is a testament to the strong working relationship
among the banks and SunEdison.”

OPIC President and CEO Elizabeth Littlefield said, “We are pleased to partner once
again with SunEdison, as well as IFC and UniCredit, to support a solar solution for
Bulgaria’s growing demand for energy. These types of public-private collaborations – using
development financing to leverage private sector investment in state-of-the-art
technologies – point the way to ever-increasing use of renewable energy sources in
developing regions around the world, a trend we are happy to support.”

Gianni Franco Papa, Deputy CEO and Head of the CEE Division at UniCredit Bank Austria,
added, “We are proud of having contributed to the establishment of the SunEdison
Karadzhalovo solar power plant, which was advanced with our comprehensive expertise in
arranging complex loans. Together with SunEdison and global institutions IFC and OPIC, we
put this very important project in renewable energy on a financially sound and competitive
foundation.”

About SunEdison:

SunEdison is a global leader in delivering solar power. The company develops,
finances, installs and operates distributed power plants using proven photovoltaic
technologies, delivering fully managed, predictably priced solar energy services for its
commercial, government and utility customers. In 2011 SunEdison interconnected
approximately 300 Megawatts of solar throughout the world. For more information about
SunEdison please visit http://www.sunedison.com

About MEMC:

MEMC is a global leader in the manufacture and sale of wafers and related intermediate
products to the semiconductor and solar industries. The company has been a pioneer in the
design and development of silicon wafer technologies for 50 years. With R&D and
manufacturing facilities in the U.S., Europe and Asia, MEMC enables the next generation of
high-performance semiconductor devices and solar cells. Through its SunEdison division,
MEMC is also a developer of solar power projects and North America’s largest solar energy
services provider. MEMC’s common stock is listed on the New York Stock Exchange under the
symbol “WFR”. For more information about MEMC please visit http://www.memc.com

About IFC:

IFC, a member of the World Bank Group, is the largest global development institution
focused exclusively on the private sector. We help developing countries achieve
sustainable growth by financing investment, providing advisory services to businesses and
governments, and mobilizing capital in the international financial markets. In fiscal
2011, amid economic uncertainty across the globe, we helped our clients create jobs,
strengthen environmental performance, and contribute to their local communities – all
while driving our investments to an all-time high of nearly $19 billion. For more
information about IFC please visit http://www.ifc.org

About OPIC:

OPIC is the U.S. Government’s development finance institution. It mobilizes private
capital to help solve critical development challenges and in doing so, advances U.S.
foreign policy. Because OPIC works with the U.S. private sector, it helps U.S. businesses
gain footholds in emerging markets catalyzing revenues, jobs and growth opportunities both
at home and abroad. OPIC achieves its mission by providing investors with financing,
guarantees, political risk insurance, and support for private equity investment
funds.Established as an agency of the U.S. Government in 1971, OPIC operates on a
self-sustaining basis at no net cost to American taxpayers. OPIC services are available
for new and expanding business enterprises in more than 150 countries worldwide. To date,
OPIC has supported nearly $200 billion of investment in over 4,000 projects, generated $74
billion in U.S. exports and supported more than 275,000 American jobs. For more
information about OPIC please visit http://www.opic.gov

About UniCredit:

UniCredit is a leading European bank with strong roots in 22 countries. Our overall
global network embraces approximately 50 markets, with over 9,500 branches and more than
160.00 employees (as of 30 September 2011). In the CEE region, UniCredit runs the largest
international banking network with more than 3,900 branches. The Group operates in
Austria, Azerbaijan, Bosnia and Herzegovina, Bulgaria, Croatia, the Czech Republic,
Estonia, Germany, Hungary, Italy, Latvia, Lithuania, Kazakhstan, Kyrgyzstan, Poland,
Romania, Russia, Serbia, Slovakia, Slovenia, Turkey and Ukraine.

For more information about UniCredit please visit: http://www.unicreditgroup.eu

Forward-Looking Statements

Certain matters discussed in this press release are forward-looking statements;
including that SunEdison expects to complete the sale of the equity of this power plant in
2012; that the 60.4 MW system is expected to expected to generate sufficient energy to
power 27,400 homes and avoid 37,400 tons of CO2 – the equivalent of removing more than
7,000 cars from the road. Such statements involve certain risks and uncertainties that
could cause actual results to differ materially from those in the forward-looking
statements. Potential risks and uncertainties include concentrated project development
risks related to large scale solar projects; the availability of attractive project
finance or other capital, including equity capital; delays or interruptions in
construction, deployment or activation; the timely availability of required permits and
authorizations for projects from governmental entities and third parties; changes in
applicable regulatory requirements and incentives for production of solar power; and
general business and economic conditions, including seasonality of the industry. These
forward-looking statements represent SunEdison’s judgment as of the date of this release.
SunEdison disclaims, however, any intent or obligation to update these forward-looking
statements.


    Photo: 

http://www.newscom.com/cgi-bin/prnh/20120329/523234

SOURCE SunEdison


Source: PR Newswire