The two yieldcos are hoping to resolve suits with their sponsor, while they look for buyers.
Sunpower and First Solar’s joint yieldco beat guidance this quarter, while announcing a significant acquisition and $250 million in additional credit.
The yieldcos have until the end of August to submit a plan as to how they are going to get their financial reports on track, while TerraForm Global struggles with multiple legal proceedings.
The yieldco of energy company NRG has also announced that it will acquire its parent company’s remaining stake in the 250 MW California Valley Solar Ranch (CVSR) plant.
The renewable energy developer cites its bankruptcy but TerraForm plans to contest the change, and in the interim will pay the interest.
NextEra’s yieldco plans to add 269-1,169 MW of U.S. solar over the 2017-2018 timeframe.
The yieldco’s most recent financial data shows continued losses despite a slowing of project acquisitions in Q1.
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