SunEdison launched several methods to strengthen its residential solar sales in the U.S. The methods include a residential power purchase agreement (PPA) product and a tax equity financing partnered with Morgan Stanley.
SunEdison announced the acquisition of LightWing, a comprehensive solar platform solution for utilities and retail energy providers (REPs), and an exclusive sales partnership with Evolve, one of the nation's largest residential solar resellers. Evolve Solar has 250+ strong sales force across 9 states, and these sale forces will now exclusively sell SunEdison solar products. These initiatives would enhance SunEdison’s product portfolio and channel platform to boost sale growth in the U.S.
"With the addition of a new residential PPA product and greatly strengthened channel and sales capabilities, we're now positioned to effectively serve every segment of the residential and small commercial market," said Global General Manager and Senior Vice President of Residential and Small Commercial at SunEdison, Vikas Desai.
SunEdison also announced an agreement with leading financier Morgan Stanley to provide tax equity financing for the PPA product in a partnership fund with TerraForm Power, a global owner and operator of clean power plants. COE of TerraForm Power, Carlos Domenech, commented that TerraForm aims to be a long-term owner of these residential assets as well as to deliver positive cash flows and growth to its shareholders.