Renewables firm SunEdison currently in Chapter 11 bankruptcy proceedings said in a SEC filing that it had received around 100 bids for parts and all assets of the company, yet the ‘sum of the parts’ equated to approximately US$1.25 billion to US$1.7 billion of potential total gross proceeds, far below incurred debts estimated at almost US$12 billion, excluding its two yieldco’s.
SunEdison noted in the filing that total gross proceeds would not account for renewable energy project level debt and other third party liabilities and obligations.
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An unspecified number of the approximate 100 bids and indications of interest received through a marketing process for its assets led by Rothschild had already been withdrawn, some after further diligence and negotiations, according to the company.
The marketing process was said to be ongoing.
