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SunEdison Delays Filing Q2 Results

Posted by August 12, 2016

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, primarily related to problems with a newly implemented IT system.
 
The company said the Chapter 11 bankruptcy filing also contributed to the delay.
 
Once the fastest-growing U.S. renewable energy developer, SunEdison filed for bankruptcy in April.
 
TerraForm Power Inc and TerraForm Global Inc , the company's "yieldcos", said on Wednesday they would delay filing their second-quarter earnings reports.
 
"Yieldcos" are publicly traded units that hold renewable energy assets, including those bought from the parent company.


(Reporting by Arathy S Nair; Editing by Sriraj Kalluvila)

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