A Delaware bankruptcy court judge yesterday approved the $50 million sale of the residential solar installer to private equity firm Northern Pacific Group.
In papers filed yesterday in the U.S. District Court for the Northern District of California (Oakland Division), the panel maker accuses three companies of stealing designs for its PowerXT modules and creating their own version, to the detriment of the company’s profits.
The tech giant has agreed to pay $24 million to the utility for the pleasure of circumventing its role.
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.
The Campaign for Accountability sent a letter to Oregon’s top law enforcement official asking her to investigate what it calls “false and misleading acts in the marketing and sale or lease of solar panels” in the state, the same day that SEIA launched an education campaign to combat shady sales practices by solar installers.
The lawsuit alleges that workers were not given the warning required under federal law, and attorneys are additionally enquiring about bounced paychecks.
A preliminary finding by the U.S. Department of Commerce could lower import duties first imposed on Taiwan solar cell manufacturers in 2014 from high double-digits to single digits, while tariffs on Chinese module and cell manufacturers imposed at the same time remain in place.
Brookfield has agreed to acquire a 51% stake in yieldco TerraForm Power and plans to become the company’s sponsor, as well as acquiring TerraForm Global outright.
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