The solar projects will be developed by SunEdison in the US.
The funds contributed by Wells Fargo’s subsidiaries will help SunEdison provide clean and reliable source of electricity to its customers.
SunEdison builds, manages, and operates the solar systems under the power purchase agreement model, through which its customers can buy the energy produced at lower prices.
Wells Fargo’s Environmental Finance Group head Barry Neal said the solar projects developed by SunEdison will help businesses and public entities better control their electricity costs, while expanding the use of renewable energy throughout the US.
Wells Fargo invested $200m in 150 solar projects developed by SunEdison in 2007, across eight states in the US.
