Canada In-Focus: SunEdison To Launch Rooftop Solar Program

June 24, 2010 (FinancialWire) (Go to http://www.financialwire.net/?s=ftrdnwswnd for all of today’s featured news.) — SunEdison, a division of MEMC Electronic Materials, Inc. (WFR), said that it will develop and build industrial and retail roof-top solar photovoltaic projects for LaSalle Investment Management, a global real estate investment manager based in Ontario, Canada.

Under the agreement, SunEdison will finance, build, own, operate, monitor and maintain photovoltaic solar energy systems with capacity totaling 2.1 Megawatts. They will be hosted at LaSalle Investment Management facilities, and the Ontario Power Authority will purchase the energy produced under the terms of Ontario's Feed-in Tariff Program.

LaSalle Investment Management will receive lease revenue for roof-top space allocated to the projects, without any upfront capital equipment costs.

The eight roof-top PV systems will be launched starting in the late summer of 2010, with the majority of installations completed by the end of 2010.

According to SunEdison, the majority of projects will be located in the Greater Toronto Area including Burlington, Toronto and Woodbridge, with additional systems located in both Lindsay and Kanata.

Missouri-based MEMC is engaged in the manufacture and sale of wafers and related intermediate products to the semiconductor and solar industries.

Canada-based LaSalle Investment Management, a member of the Jones Lang LaSalle group (NYSE: JLL), is a global real estate investment manager, with around $40 billion of assets under management of private and public property equity investments.

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