SunEdison strikes Chinese solar pact

|By:, SA News Editor

SunEdison (SUNE -1%) is partnering with Chinese solar wafer vendor Huantai Group to build local solar projects.

The companies expect to build up to 1.7GW of Chinese projects over the next 5 years. Also, SunEdison will provide Huantai with polysilicon (from a Korean plant) for use in its wafers, which in turn will support "both companies' subsequent project needs."

SunEdison had a 3.6GW solar project pipeline at the end of Q1, and a 1GW backlog. The company is five days removed from filing an S-1 for its TerraForm Power (TERP) solar project spinoff.