The long and tragic collapse of SunEdison has finally come to an end, and Brookfield now owns both of its former yeildcos.
The acquisition narrows the number of companies that are developing FBR, and further consolidates the transfer of this technology to Chinese companies.
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 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.
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.
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