SunEdison bankruptcy watch roundup

Written By: Stratton Report
April 12, 2016

Sunedison

According to Bloomberg, SunEdison Inc.’s rumored bankruptcy is causing Indian lenders to reconsider financing solar-power projects by foreign companies. The solar developer is apparently seeking to sell over 1 gigawatt of projects in that country.

“Lenders in Asia’s No. 3 economy are hesitating as the world’s biggest renewable energy company totters and record-low Indian solar tariffs stoke concern that projects could struggle financially, the three people said, asking not to be identified citing the sensitivity of the topic.That’s a threat to Prime Minister Narendra Modi’s goal of a roughly $100 billion expansion of solar power, aided by foreign investment, a target he set for energy security and to curb fossil-fuel pollution.”
You can read the complete story here.

In further Bloomberg coverage, it was noted that even as SunEdison’s vehicle TerraForm Global announced its successful acquisition of the Alto Cielo solar farm in Uruguay, the yieldco had distanced itself on April 3 from its parent by filing suit over SunEdison’s failure to provide $231 million for a solar investment in India. You can read that complete story here:

Reuters earlier reported that several SunEdison projects have seen delays. These include a solar plant under construction for Georgetown, Texas that SunEdison, which originally intended to self-finance, is now seeking outside money to complete; cancelled PPAs with Hawaiian Electric as a result of project delays from three solar facilities, and delays in two projects in Uruguay and a windfarm in India.

The same story noted that SunEdison has also in recent weeks sold or attempted to sell several of its large ventures, including the Beacon Solar project that was divested to Capital Dynamics and the 156 MW Comanche Solar plant underway in Colorado.
You can read the complete story here.