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, 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)