SAN FRANCISCO (MarketWatch) — Shares of SunEdison Inc. fell 2% on Monday following the closing of a debt deal to finance the construction of a solar power plant in Chile.
SunEdison (SUNE) said Monday it closed on a $155 billion debt financing agreement with investors that included CorpBanca, a major Chilean bank, and the Inter-American Development Bank to build a 72.8 megawatt plant in the Antofagasta region of Chile.
/quotes/zigman/17430636/delayed/quotes/nls/sune SUNE 22.74, -0.14, -0.59%
The plant is expected to be one of the largest in the world, SunEdison said.
Electricity from the project, which has been named Maria Elena, will be fed directly into the Chilean electric grid, SunEdison said. The Belmont, Calif. company will own and operate the plant.
Shares of SunEdison have gained 175% in the past 12 months, placing it among the top performers in solar stocks. Shares have risen almost 20% over the past three months.
Most solar stocks gained Monday, with Canadian Solar Inc. (CSIQ) shares among the top gainers, rallying 5.5%.
/quotes/zigman/103639/delayed/quotes/nls/csiq CSIQ 31.19, +1.40, +4.70%
Canadian Solar said Monday it signed a contract to sell nearly 13 mw worth of solar modules to a consortium of Turkish companies in an industrial zone in that country.
Shares of Canadian Solar have gained 185% in the last 12 months, and declined 2% in the past three months.
Top gainers in the solar sector included SolarCity Corp. (SCTY) , with shares up 0.8%. U.S.-listed shares of ReneSola Ltd. (SOL) rose 3.1%.
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