SunEdison Receives Final Milestone Payment for Rovigo Solar Power Plant

SunEdison, a leading worldwide solar energy services provider and a subsidiary of MEMC Electronic Materials WFR, announced today that it has received the final milestone payment of 230 million Euros from First Reserve for the sale of a 70 megawatt (MW) photovoltaic (PV) power plant located in Northeast Italy, near the town of Rovigo. As previously announced, the Rovigo solar power plant was acquired by First Reserve for approximately 276 million Euros, through a joint venture established between First Reserve and SunEdison. In October 2010, First Reserve made an initial milestone payment of 46 million Euros to SunEdison and on December 23, 2010 funded the final 230 million Euro milestone payment.