SunEdison Scores $185M Loan For South African Solar Plant

Law360, New York (November 6, 2013, 1:44 PM EST) -- SunEdison Inc. has landed a $185 million loan from Overseas Private Investment Corp., which will cover three-quarters of the 60-megawatt Boshof Solar Park Project in South Africa's Free State province, the company said Wednesday.

The power plant will come online by the fourth quarter of 2014, and supply South Africa's national utility Eskom and its Department of Energy under a 20-year power purchase agreement.

SunEdison owns a 51 percent stake in the plant's holding subsidiary, with the rest spread among South African companies. The $230 million...
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