SunEdison rallies after announcing new fund investment

|By:, SA News Editor

DeLange Landen Financial Services (DLL) is doubling its investment in a SunEdison (SUNE +1.9%) fund meant to finance new solar installations (via sale/leaseback agreements) to $100M. Projects enabled by the fund are expected to be completed in 2013. (PR)

Much like SolarCity, SunEdison is looking to use asset-based financing options to grow its U.S. solar installation business. Thanks in part to healthy subsidies, domestic demand has grown rapidly in 2013.

News of the investment comes a week after SunEdison said it's planning to sell a 20%-30% stake in a solar project subsidiary through a U.S. IPO.