SunEdison, Inc. says that the National Energy Commission in Chile has awarded SunEdison a contract to supply 570 gigawatt hours of clean energy a year. To meet the demand, SunEdison will be investing more than $700 million USD to develop 350 megawatts of utility scale solar photovoltaic power plants throughout the country. Sun Edison intends to add the plants to the call right list of TerraForm Power, Inc. (TERP).
Electricity generated by SunEdison's solar photovoltaic (PV) power plants is now 10%-25% lower cost – without subsidies or incentives of any kind – than electricity generated by fossil fuels in Chile. The National Energy Commission in Chile recently changed the bidding process used to award electricity supply contracts for the regulated market to create a more level playing field across different kinds of energy.