SunEdison and CAP Sign Agreement to Build 100MW Solar PV Plant in Chile

BELMONT, California, January 31, 2013 /PRNewswire/ --

Expected to be largest solar plant in Latin America

This project affirms SunEdison's leadership as a solar energy producer in Chile and across Latin America. The first phase of the project is expected to be completed by the end of 2013.

SunEdison, a leading global solar energy services provider and subsidiary of MEMC Electronic Materials, Inc. (NYSE:WFR), has signed an agreement with the Chilean mining and steel group CAP to construct what is expected to be the largest solar photovoltaic power plant in Latin America and one of the largest in the world. The plant is designed to have an installed capacity of 100MW (DC) and will be located in the Atacama Desert of Chile. It is estimated that the plant will produce as much as 15% of the mining group's energy needs.

     (Photo: http://photos.prnewswire.com/prnh/20130131/593880-a )

     (Photo: http://photos.prnewswire.com/prnh/20130131/593880-b )

CAP is the largest iron ore mining, steel producer and steel processor group in Chile.

Pancho Pérez, SunEdison General Manager for EMEA, Latin America and North Asia, states that "we are very pleased to add the CAP group to our customer portfolio. We have worked to deliver an innovative solution to CAP designed to reduce their energy costs while deriving up to 15 percent of their electricity supply from clean energy." Perez added, "This initiative furthers our leadership position as a solar power producer in Chile and across the rest of Latin America."

According to Jaime Charles, CAP group CEO, "this agreement serves to reaffirm CAP's commitment to innovation and sustainable development in Chile, by using state-of-the-art technology to meet the renewable energy goals set by the Chilean Government. SunEdison's track record and long-term commitment to projects were key factors in selecting this company as our partner on this initiative."

The plant will be built using SunEdison technology. More than 300,000 Silvantis™ monocrystalline silicon modules will be installed, which are made from non-toxic, non-polluting material that can be recycled at the end of its useful life, together with solar trackers designed by SunEdison, for which steel produced by CAP is expected to be used.

Once completed, the project will be managed by the SunEdison Renewable Operations Center (ROC).  The ROC provides round the clock monitoring and management services to a global portfolio of photovoltaic installations including those owned and operated by SunEdison and third parties.  

SunEdison ranked as one of the leading solar power providers in 2012. As of September 2012, the company had interconnected over 850MW of solar energy around the world and has the unique combination of upstream product innovation, project development and ongoing asset management and services. SunEdison has been operating in Latin America since 2010 with offices in Chile, Brazil and Mexico.

During the first year of operations the plant is expected to generate 270GWh of clean energy, avoiding the emission of over 135,000 tones of CO2/year into the atmosphere, which is the equivalent of withdrawing over 30,000 automobiles from circulation.

More information about SunEdison and MEMC: http://www.sunedison.com  ; http://www.memc.com

Forward-Looking Statements

Certain matters discussed in this press release are forward-looking statements, including that the first phase of the project is expected be completed at the end of 2013, that the project will supply up to fifteen percent of CAP's energy supply, and that the plant is expected to generate 270GWh of clean energy.  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 normal commissioning risks attendant to large scale solar projects, 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, and other risks described in MEMC's filings with the United States Securities and Exchange Commission. These forward-looking statements represent MEMC's judgment as of the date of this press release. MEMC disclaims, however, any intent or obligation to update these forward-looking statements.

SOURCE SunEdison