SunEdison’s new Chilean contract will require a $700M investment

SunEdison Inc., the Maryland Heights-based solar manufacturer, has been awarded a contract with the National Energy Commission in Chile to supply 570 gigawatt hours of clean energy per year. SunEdison will have to invest more than $700 million in Chilean projects to meet that demand.

Eventually, SunEdison will sell those projects off to TerraForm Power, which went public in July and whose IPO helped raise SunEdison’s market cap from $400 million to $6 billion in 30 days. SunEdison owns 65 percent of TerraForm Power.

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