The second of SunEdison’s two yieldcos is putting all of its ducks in a row as both companies prepare to be bought by the Canadian asset manager.
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.
The yieldco’s first statement regarding its 2016 financials shows plenty of cash, but Global is remaining in the red overall.
NASDAQ has sent letters to both yieldcos warning them that the failure to hold annual general meetings in 2016 serves as an “additional” cause for de-listing, after late financial statements.
The yieldco’s overdue filing of its 2015 financial report is a step towards compliance with NASDAQ trading rules; however TerraForm Global’s losses exceeded its revenue in 2015 and the company has warned that it may not be able to continue.
EDF Renewable Services (EDF RS), of San Diego, announces that they recently assumed the Asset Management and O&M services on a portfolio of solar photovoltaic projects totaling 200 MW.
SunEdison’s two yieldcos have released preliminary Q2 results as the companies delay being de-listed and consider taking offers.
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