MARYLAND -A leading global solar energy services provider and subsidiary of MEMC Electronic Matierials, SunEdison, recently announced that Bank of America Merrill Lynch as committed to provide financing for the final two phases of SunEdison’s project. The project is a 17.3 megawatt solar farm in Davidson County, North Carolina which has been deployed through solar power purchase agreements between SunEdison and Duke Energy Carolinas.

When all the phases are completed, the 17.3MW solar farm should generate over 500 million kilowatt hours of energy over a 20 year period. This is enough energy to power more than 48,000 homes in the United States for one year.

With the financing from Bank of America Merrill Lynch, SunEdison can offer no upfront cost of solar solutions to Duke Energy with predictable long-term pricing. With the solar power purchase agreements, SunEdison will be able to finance, construct, monitor and maintain the solar farm while Duke Energy purchases the produced energy for the next 20 years.

Todd Karas, President of Banc of America Public Capital Corp, said that Bank of America Merrill Lynch is excited to help bring solar power to their home market of North Carolina. He added, “Our financing of this project is a powerful example of Bank of America’s 10-year, $20 billion business initiative focused on addressing climate change.”

The worldwide provider of solar-energy services, SunEdison, develops, installs, finances and operates distributed power plants using proven technologies and delivering fully managed and predictably priced solar energy services. Solar energy services are provided to commercial, government and utility customers.