Track the companies that matter to you. It's FREE! Click one of these fan favorites to get started: Apple; Google; Ford.



SunEdison Announces Chilean Solar Plant Deal

Watch stocks you care about

The single, easiest way to keep track of all the stocks that matter...

Your own personalized stock watchlist!

It's a 100% FREE Motley Fool service...

Click Here Now

On Thursday, MEMC Electronic Materials (NASDAQOTH: SUNEQ  ) subsidiary SunEdison announced that it has signed an agreement to build Chilean iron miner-cum-steel producer CAP a new solar power plant. And not just any solar power plant, mind you, but "the largest solar photovoltaic power plant in Latin America and one of the largest in the world."

Clocking in at an impressive 100 MW worth of installed capacity, the new plant, to be built in the middle of Chile's Atacama Desert, is expected to supply 15% of CAP's annual energy consumption, cleanly, and at a lower cost than what CAP pays for its energy today.

Financial terms were not disclosed, nor did MEMC say when, precisely, it expects to have the new plant go online. But the "first phase" of the project is expected to be complete before the end of the year.

MEMC shares are up 3% on the news, at $4.14.

Read/Post Comments (0) | Recommend This Article (0)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Compare Brokers

Fool Disclosure

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2228813, ~/Articles/ArticleHandler.aspx, 10/1/2016 1:12:52 AM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...

Today's Market

updated 3 hours ago Sponsored by:
DOW 18,308.15 164.70 0.91%
S&P 500 2,168.27 17.14 0.80%
NASD 5,312.00 42.85 0.81%

Create My Watchlist

Go to My Watchlist

You don't seem to be following any stocks yet!

Better investing starts with a watchlist. Now you can create a personalized watchlist and get immediate access to the personalized information you need to make successful investing decisions.

Data delayed up to 5 minutes

Related Tickers

9/30/2016 3:59 PM
SUNEQ $0.05 Up +0.00 +0.22%
SunEdison CAPS Rating: **