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SunEdison Approved for FIT Project Development

Thursday, April 8th 2010 3:46:28pm

Media Release

SunEdison Approved for FIT Project Development

SunEdison on track to build solar park near Ingleside in the United Counties of Stormont, Dundas and Glengarry; eight others in queue for approval this summer


Toronto, Ontario (April 8, 2010) – SunEdison, a subsidiary of MEMC Electronic Materials (NYSE: WFR), is pleased to announce the approval of its Feed-in-Tariff (FIT) application to build a 10 Megawatt (MW) solar park in Ingleside.  This news was announced earlier today by Premier McGuinty in Cornwall as well as the Honourable Brad Duguid, Ontario’s Minister of Energy and Infrastructure in Whitby, Ontario, where he was joined by Colin Andersen, Chief Executive Officer of the Ontario Power Authority (OPA), and local MPPs.

SunEdison will own and finance the solar park and the OPA will purchase the energy produced under the terms of the 20-year FIT contract.  During their first full year of operation, the system will provide about 12.6 million kilowatt hours (kWh) of clean energy, and offset almost 9,000 tonnes of CO2 emissions into the atmosphere.  

“We are thrilled that SunEdison was selected to develop the Ingleside FIT project,” stated SunEdison’s Country Manager, Jason Gray. “With suitable levels of cooperation, we anticipate that it will take approximately 11–12 months from contract signing to the start of construction. As a result of this announcement, SunEdison estimates that the project will create over 100 direct and indirect ‘green jobs’ for Ontarians, with over 50 million dollars invested into the Ontario economy.”

“Today’s announcement further affirms Ontario’s position of global leadership in the development of green energy,” continued Gray.  “Based on the Ingleside project awarded today, plus our 8 other eastern Ontario solar PV projects that are in queue awaiting OPA’s Economic Connection Test (ECT), we’re excited to play a key role in Ontario’s clean energy future.”

Additional FIT application approvals are expected this summer.  Proposed SunEdison solar park locations currently in ECT include:

• 5 near Smith’s Falls (3 in Lanark County and 2 in the United Counties of Leeds and Grenville)
• 1 additional in the United Counties of Stormont, Dundas and Glengarry (near Newington)
• 1 in Ottawa (southeast of Cumberland)
• 1 southwest of Pembroke (in Renfrew County)


To arrange a media interview, please contact:

Don Huff
dhuff@ecostrategy.ca
Office:416-972-7401
Cell:416-805-7720


About SunEdison

SunEdison is North America’s largest solar energy services provider. The company finances, installs and operates distributed power plants using proven photovoltaic technologies, delivering fully managed solar energy services for its commercial, government and utility customers. For more information about SunEdison, please visit www.sunedison.ca.

About MEMC

MEMC is a global leader in the manufacture and sale of wafers and related intermediate products to the semiconductor and solar industries. MEMC has been a pioneer in the design and development of silicon wafer technologies for 50 years. With R&D and manufacturing facilities in North America, 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" and is included in the S&P 500 Index. For more information about MEMC, please visit www.memc.com.