Major PV energy provider (PVEP), SunEdison has secured funds from Barclays and Citi banks totalling US$160 million to be used for distributed generation (DG) projects in the US.

SunEdison said that the funds would enable it to expand its market in the commercial and industrial sector, supporting tax equity requirements for around 40 projects that will range from being ground-mounted, rooftop and canopy systems. The average size of the planned projects was said to be 1.1MW.

The fund structure was said to have been designed to enable efficiencies for tax equity investors.