SunEdison, a subsidiary of MEMC Electronic Materials (NYSE: WFR), and DRI Energy announced a partnership to deploy photovoltaic power plants in California, Hawaii and Arizona. The initial partnership is set to deploy over 19 megawatts (MW) of solar capacity.
Under the so-called channel partner agreement, SunEdison will finance deployment contracts facilitated by DRI Energy with commercial, government and utility clients. SunEdison will also own, operate, maintain and monitor the solar power plants which will be designed, engineered and constructed by DRI Energy.
SunEdison and DRI Energy have already deployed solar projects in California and have several others currently under construction.
DRI Energy has over 30 years of roofing and construction experience that it is putting to use to gain a hold in the solar installation industry. The company, headquartered in Irvine, California, is one of four subsidiaries of DRI Companies. DRI Companies' clients include Alcoa, Boeing, IBM, Home Depot, Disney, Walmart, Macy's, Target, NASA and the United States Navy. DRI Energy's sister company, Lumeta, provides innovative rooftop PV products for commercial and residential applications.
