Utility solar developer, SunEdison, has reached financial close for two solar power plants in Ontario, Canada.

Global financial services provider, Deutsche Bank is to provide CA$115 million finance for the construction of the two plants, which will be carried out by SunEdison.

Both the plants are scheduled to be operational by the end of 2014, and will produce enough energy to power 1,300 homes a year, SunEdison said.

SunEdison will also manage the two plants with its Renewable Operation Centre (ROC) monitoring systems: the solar plants’ systems will provide feedback 24 hours a day.

SunEdison will install 100,000 of its ‘Silvantis TM’ modules – all to be manufactured in Ontario, with SunEdison polysilicon and wafers, creating local jobs.

"The Green Energy Act continues to benefit Ontarians by creating jobs and increasing renewable energy in Ontario," said Michael Dilworth, vice president and country manager for SunEdison Canada, who also said SunEdison plans to continue its growth in Canada. SunEdison already has a 130MW solar portfolio in Ontario.

SunEdison has teamed up with Deutsche Bank previously: earlier this month, Deutsche Bank provided US$300 million for solar projects in North America. Deutsche Bank has also helped fundSunEdison enter the UK market.

Deutsche Bank has been vocal in its support for solar, in January this year proclaiming a “second gold rush” for PV.

SunEdison has said its financing models aim to reduce the costs for building solar parks, and has said it has raised US$6 billion for funding global renewable energy projects, so far.