TerraForm Power, formerly the yield-co jewel in the crown of renewable energy darling SunEdison, reported disappointing first-quarter earnings late last month, with lower-than-expected earnings and cash due in part to underperforming renewable energy assets.
Formerly the crown jewel in the SunEdison renewable energy portfolio, yieldco-turned-renewable power company TerraForm Power has reported steady financial results in its first year with backing from Brookfield Asset Management.
TerraForm Power, formerly a yieldco of the now-bankrupt SunEdison and now backed by Brookfield Asset Management, has this week launched a takeover bid to acquire controlling interest in leading European renewable energy asset manager Saeta Yield, with an offer approximately worth $1.2 billion.
The once ballyhooed yieldcos of now-bankrupt SunEdison, TerraForm Power and TerraForm Global, published their third-quarter earnings earlier this month to mixed response, with lackluster revenue for the quarter leading to both companies posting sharemarket losses.
The fate of SunEdison’s two yieldcos has finally been settled, as Canadian asset management firm Brookfield Asset Management has agreed to assume a controlling stake and assume sponsorship of TerraForm Power, and acquire TerraForm Global.
Both of SunEdison’s TerraForm yieldcos have announced that they have entered into exclusive talks with Canadian Brookfield Asset Management to discussion a potential acquisition of the yieldcos for as much as $2.46 billion.
TerraForm Power, one of SunEdison’s two yieldcos, has announced the sale of its portfolio of UK solar projects representing 365 MW to renewable energy platform, Vortex.
Ever since the once-global renewable energy developer leader SunEdison filed for bankruptcy in April, many have been wondering what would become of the company’s two yieldcos — TerraForm Power & TerraForm Global. In presentations given to investors, both yieldcos reported that they intend and expect to be “operationally independent” by January 2017.
Less than a week after TerraForm Power and Global threw their parent company SunEdison under the bus, it has hit back with a passive aggressive press release that 16-year-olds the world over will be learning from for many years to come. Late September, SunEdison’s two yieldcos — TerraForm Power and … [continued]
Court documents filed in the SunEdison bankruptcy case have shed light on a possible way out for the one-time darling of the clean energy world, with information suggesting Bank of America may step up to the plate to save the company. Earlier this week I reported on the current goings … [continued]
