TerraForm to Sell Some UK Solar Projects
TerraForm Power Inc, the "yieldco" of bankrupt solar company SunEdison Inc, said it would sell some UK solar projects to Vortex, the renewable energy investment platform of Egypt's EFG Hermes , for about $580 million. Shares of TerraForm Power were up 3.3 percent at $13.5 in early trading.
Brookfield Asset Proposes Stake in TerraForm Power
Brookfield Asset Management Inc proposed on Friday to take a 50-60 percent stake in bankrupt solar company SunEdison Inc unit TerraForm Power Inc , a week after it expressed interest in buying the unit. The cash offer of $13 for class A and class B shares of TerraForm…
SunEdison's Yieldcos Exploring Strategic Options, Including Sale
TerraForm Global Inc and TerraForm Power Inc, the "yieldcos" of bankrupt solar company SunEdison Inc, said on Monday they were exploring strategic alternatives, including a sale of their entire business. TerraForm Power's shares were up 3.4 percent at $13.49 in early trading, while TerraForm Global was up 7.4 percent at $3.65.
SunEdison Delays Filing Q2 Results
Bankrupt solar company SunEdison Inc on Friday joined its "yieldcos" in delaying earnings report for the second-quarter ended June 30. SunEdison is yet to file its 2015 annual repot, as well as its first-quarter report, after the company identified "material weaknesses" in its financial reporting…
SunEdison Files for Chapter 11 Bankruptcy Protection
Solar energy company SunEdison Inc filed for creditor protection on Thursday, making it one of the largest bankruptcies by asset value involving a non-financial company in a decade. Once the fastest growing U.S. renewable energy developer, SunEdison embarked on an aggressive…
SunEdison In Talks for Potential DIP Financing
Struggling solar energy company SunEdison Inc said on Friday it was in talks for potential debtor-in-possession financing with some of its first and second-lien lenders. SunEdison, which is widely expected to file for bankruptcy soon, said it needs about $310 million to…
Terraform Global Sues SunEdison for Breach of Contract
Terraform Global Inc sued its parent and controlling stockholder, SunEdison Inc, for breach of contract on Monday, alleging the struggling renewable energy company misappropriated $231 million of Terraform's cash, according to a filing in a Delaware court. (Reporting by Tom Hals in Wilmington, Delaware)
SunEdison at Risk of Bankruptcy; Shares Plummet
U.S. solar company SunEdison Inc , whose aggressive acquisition strategy has saddled it with more than $11 billion of debt, is at "substantial risk" of bankruptcy, one of its two publicly listed units warned on Tuesday. SunEdison's shares - already reeling from a Wall…
SunEdison and TerraForm Delay Filing Reports Again
Solar company SunEdison Inc and its "yieldco" TerraForm Power Inc said on Wednesday they had delayed filing their annual reports beyond an extended deadline due to problems with their IT systems, sending their shares plunging. SunEdison, struggling under a huge debt load, said on Feb.
BTG Pactual, Brazil's Patria to Sue SunEdison on Deal
Brazil's Grupo BTG Pactual SA and Patria Investimentos Ltda will take U.S. energy company SunEdison Inc to court over a power company sale that fell through, Valor Econômico newspaper said on Thursday. Without naming sources, Valor said BTG Pactual and Patria, a private equity firm…
U.S. Oil Producers, Solar Stocks Gain after Congressional Spending Bill
Oil producers' shares rose while refiners fell in premarket trading on Wednesday after U.S. lawmakers approved a spending bill that would lift a 40-year-old ban on domestic crude exports. At the same time, shares of solar companies jumped as Congress extended investment tax credits beyond 2016.
Morgan Stanley Exiting Solar Business with Fixed Income Cuts
Morgan Stanley is winding down a group that develops and structures North American solar projects as part of a plan to cut up to 25 percent of jobs in its fixed income business, people familiar with the matter said on Wednesday. A spokesman at Morgan Stanley declined to comment.
SunEdison Cuts Cash Portion of Vivint Solar Offer
Solar company SunEdison Inc said it cut the cash portion of its offer for Vivint Solar Inc by $2.00 to $7.89 per share. SunEdison's shares jumped 21.4 percent to $4.25 in early trading on Wednesday. The company said the stock component of the offer has been raised by 75 cents per share.
TerraForm, SunEdison Cancel Brazil Power Deal Worth $3.45 bln
Renewable energy company TerraForm Global Inc is pulling out of an agreement to take control of projects accounting for 2,200 megawatts of generation capacity due to adverse market conditions in Brazil, companies involved in the deal said on Tuesday. TerraForm, a unit of U.S.-based SunEdison Inc…
Two SunEdison c-suite Departures Announced
Troubled U.S. solar company SunEdison Inc said on Monday chief executives of its two yield cos had stepped down and the company's chief financial officer will assume additional roles of chief executive at the units. Chief Financial Officer Brian Wuebbels will assume additional roles of Chief Executive at the yield cos…
SunEdison's Problems May Impact Solar Yieldcos
SunEdison Inc's decision to halt sales of solar power plants to its dividend-paying "yieldco" units has drawn attention to the company's missteps at a time when the oil price slump has claimed renewable energy stocks as collateral damage. So-called yieldcos are publicly…
SunEdison Expects to be Cash Positive Through 2016
Solar company SunEdison Inc said on Wednesday it would cut costs and streamline operations, putting it on track to be cash positive throughout next year. The company, which said two days ago that it would cut 15 percent of its workforce, has reported negative cash flow from operating activities for the past four years…
Solar is Hot Everywhere but Wall Street
By almost any measure, the U.S. solar market is on fire. Installations of solar panels are expected to soar by a third this year, the price of solar power is now cheap enough to compete neck and neck with gas and coal-fired power in places like California, and the fledgling industry received a vote of confidence last week when U.S.
SunEdison to buy Vivint Solar for about $2.2 bln
Solar company SunEdison Inc said it would buy Vivint Solar Inc in a deal valued at about $2.2 billion, including debt, to expand in the residential and commercial solar power business. SunEdison has offered Vivint shareholders $9.89 in cash, $3.31 in stock and $3.30 in notes for every share held.
SunEdison's Emerging Market Unit Files for IPO
TerraForm Global Inc, formed by solar company SunEdison Inc to own and operate some of its power plants in emerging markets, filed with U.S. regulators for an initial public offering of its class A common shares. TerraForm Global will operate as a "yield co", a corporate…
