Search results for “SunEdison”

The long and tragic collapse of SunEdison has finally come to an end, and Brookfield now owns both of its former yeildcos.

The company stands to make a pretty penny by getting out of TerraForm Power.

More than a year after the world’s largest renewable energy developer went under, Judge Stuart Bernstein has approved a deal that will allow it to emerge from bankruptcy proceedings over the objections of shareholders and two investors.

The new project will focus on commercial and industrial (C&I) and community solar projects, led by the former head of the bankrupt solar giant’s East Coast C&I operations.

The rulings help clear the way for Brookfield’s acquisition of the two yieldcos, closing a long and difficult chapter in the story of the three companies.

In the seemingly unending saga that is the bankruptcy of SunEdison, its official committee of unsecured creditors filed objections to the plans to sell its shares in its two yieldcos, TerraForm Power and TerraForm Global.

As a Friday deadline looms under the memorandum-of-understanding (MOU) between the two former partners, the exclusivity agreement with its Brookfield suitor had its deadline extended to March 6.

Through no fault of its own, the energy-storage manufacturer revealed on its most recent earnings call that the continuing SunEdison fiasco cost it $500 million in revenue in 2016 – but it lived to tell the tale.

SunEdison Semiconductor has agreed to allow the transfer of intellectual property to the world’s largest polysilicon and wafer maker, which is seeking to develop FBR polysilicon.