SunEdison has closed on construction financing underwritten by Deutsche Bank Securities to build the 60MW AC Regulus solar power plant located in Kern County, California .

To be operational by the end of 2014, the plant will be equipped with 250,000 SunEdison Silvantis Photovoltaic Solar Modules. Construction of the plant is being managed by SunEdison. Silvantis Modules are built using SunEdison polysilicon and wafers to ensure maximum reliability and performance.

Once operational SunEdison will provide solar asset management services and 24/7 global monitoring, field dispatch and reporting services through its Renewable Operation Center (ROC).

SunEdison president of North America Bob Powell said, "Regulus is our largest North America project to date and is evidence of the momentum we are building in the California utility scale solar market. In the past month we’ve announced completion on the Adobe and Cascade projects which total nearly 40 MW AC. We look forward to participating in the continued growth of the California solar market."

The two plants will offset the CO2 emissions of over 100 million pounds of coal annually, according to the U.S. Environmental Protection Agency Greenhouse Gas Equivalencies Calculator. The plant is designed to generate enough electricity to power over 10,000 homes per year.