Wells Fargo, an American multinational banking and financial services holding company, is set to provide $100m in tax-equity financing to SunEdison.
The funds for the years 2013 and 2014 will be utilized in the construction of solar photovoltaic distributed generation power projects developed by SunEdison.
Commenting on the transaction, SunEdison Capital president Carlos Domenech said the company will continue to work to make solar an economically viable energy solution.
Wells Fargo 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 U.S."
Meanwhile, Wells Fargo has provided around $950m of tax equity and construction financing for over 200 utility and distributed generation solar projects developed by SunEdison. These projects are located in thirteen US states and in Puerto Rico.
SunEdison builds, manages and operates the solar systems, under the power purchase agreement model. It provides solar energy services, while owns and operates power plants in North America.