SunEdison Inc. closed financing and broke ground on the 156 MW Comanche Solar project for Public Service Co. of Colorado, a subsidiary of Xcel Energy. Although the scale of the project makes it big news, it is also notable for its use of a new type of financing vehicle. Comanche Solar is the first project to receive financing through SunEdison's $1.5 billion First Reserve warehouse facility. The financial vehicle is an example of how project financing is evolving to meet the needs of investors and developers alike. Julie Blunden, senior vice president and chief strategy officer at SunEdison, says the warehouse serves a number of useful functions that should ultimately bring the cost of financing down.