Under the terms of the MOU, which is subject to negotiation and completion of definitive agreements, GSND would support SunEdison in securing the proper land or building areas for the development of the 400MW of solar power plants.

GSND expects these projects, which are expected to be completed by the end of 2013, to stimulate the local economy by creating more than 1,500 jobs and help GSND achieve its renewable energy diffusion target of 15% by 2030.

SunEdison is also expected to collaborate with other companies located in Gyeongsangnam-do for the construction and installation of the PV power plants and to reinvest certain amounts of profit received from these projects for the development of the local economy.