The deal was inked with the government of a Korean province, Gyeongsangnam-do. In the MOU, SunEdison agreed to build 400 megawatts of solar capacity on public land and building rooftops. The agreement is subject to final negotiations - but SunEdison said it expected construction to be complete by late 2013.
Gyeongsangnam-do has an interest in seeing that the deal moves through: The province anticipates that the installation of 400 megawatts of solar capacity would create 1,500 jobs.
SunEdison's agreement is emblematic of both the benefits and the increasingly globalized face of solar power. Not only can solar installations create jobs and reduce carbon emissions - they can produce revenue for companies the world over.
International partnerships are growing ever more common in the solar industry: This week, for example, Power-One - a California solar-inverter company with production operations in Europe and Canada - announced that it was opening a new plant in Arizona. An estimated 350 jobs will be created, Power-One said.
