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Follow UsSAN JOSE, USA: TransAlta, Canada's largest publicly traded generator and marketer of electricity and renewable power, has retailed their two ground-mount solar photovoltaic (PV) development projects in Ontario to SunEdison, a division of MEMC Electronic Materials Inc.
The deal would help SunEdison to enhance its development of solar PV projects in Ontario. A short while ago, silicon wafer maker MEMC had taken over the company.
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SunEdison is one of the largest solar energy services providers in North America. In Ontario, they secured more than 300 acres of land across two sites near Sandhurst. The first site will be used to develop and construct a 10-MW Renewable Energy Standard Offer Program (RESOP) project whereas the second site will be developed for Ontario's Feed-in-Tariff (FIT) program. Both the programs were enabled by Ontario's Green Energy Act. Thus SunEdison will fund and maneuver the solar energy systems.
The energy produced under the norms of RESOP and FIT programs will be purchased by the Ontario Power Authority .Recently, the company announced that it had entered into a deal with First Reserve Corporation to establish a joint venture which could provide for the acquisition of up to $1.5 billion in current and future SunEdison solar photovoltaic energy projects.
MEMC is now expanding it services in the field of solar energy. They had acquired SunEdison LLC, for $200 million in cash and stock .In addition to this, MEMC acquired Santa Clara, a California based Solaicx in a deal worth $76 million. According to market research company Gartner Inc ,the market leaders lost out the supply of silicon wafers to chip makers during the global recession of 2009.
When compared to 2008, the demand for silicon wafer in 2009 was $7.23 billion, which is a reduction of 38.5 percent. During this time, MEMC retreated from fourth to fifth position although it managed to keep its sales decline below the market average, at a decrease of 36.5 percent.