SunEdison LLC (Beltsville, Maryland, U.S.) has announced that on December 23, 2010, it received the final milestone payment of USD$305 million (EUR230 million) from First Reserve for the 70MW Rovigo solar photovoltaic (PV) plant in Rovigo, Italy. First Reserve purchased the Rovigo PV plant for EUR276 million (USD$366 million), and in October 2010 made an initial payment of EUR46 million (USD$61 million).

"The development and sale of the Rovigo power plant was a major achievement and defining moment for SunEdison in 2010," stated SunEdison President Carlos Domenech. "In less than ten months, we designed and developed one of the largest single operating solar power plants in Europe."

SunEdison states that it will manage the ongoing operation and maintenance of the Rovigo plant. The plant is the largest that SunEdison has developed to date and one of the largest in the world.

SunEdison is a division of MEMC Electronic Materials, Inc. (St. Peters, Missouri, U.S.).

2010-12-30| Courtesy: SunEdison LLC | solarserver.com © Heindl Server GmbH

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