SunEdison, Huantai to Build 1.7 Gigawatts of China Solar Plants

Jun 03, 2014 11:16 am ET

June 3 (Bloomberg) -- SunEdison Inc., the best-performing U.S. solar company this year, and Chinese solar wafer manufacturer Huantai Group agreed to jointly develop 1.7 gigawatts of solar power projects in China.

The companies will develop the plants over the next five years with SunEdison supplying Huantai with polysilicon from a new South Korea plant, St. Peters, Missouri-based SunEdison said today in a statement.

China, the world’s largest solar market, plans to reach 70 gigawatts of capacity by 2017, from about 20 gigawatts at the end of last year.

SunEdison said May 29 it’s planning an initial public offering of a unit the company created to own and operate renewable power projects.