SunEdison has confirmed that it has started the ball rolling on a new yield co dedicated to emerging markets.
The company already established the TerraForm Power vehicle, which now owns 808MW of solar power capacity.
In a brief, obligatory statement, SunEdison said it had filed papers for the draft registration and proposed IPO of a “yield co vehicle focused on contracted clean power generation assets in attractive, high growth, emerging markets, primarily in Asia (excluding Japan) and Africa”.
The proposed number of shares to be offered and their pricing have not yet been decided.
The SEC must complete a review process before the IPO can take place. This could take several months.
SunEdison is building projects in a number of emerging markets, most notably in Chile.