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SunEdison, Goldman Agree to Form $1 Billion Clean-Power Fund

SunEdison Inc. is getting $1 billion in cash and loans to build and buy clean power plants.

The world’s biggest renewable-energy developer is forming an investment vehicle with a Goldman Sachs Group Inc.-managed fund, according to a statement Monday. SunEdison shares surged after the close of regular trading in New York.

The Goldman-managed fund, West Street Infrastructure Partners III, will provide $300 million in equity and a group of banks that includes Bank of America Corp. and Deutsche Bank AG will supply $700 million in debt.

The deal will accelerate the developer’s global...