D.E. Shaw bids to replace SunEdison as TerraForm Power sponsor

Facebook
Twitter
LinkedIn
Reddit
Email
The US$38 billion hedge fund made a non-binding bid at an undisclosed price. Source: SunEdison.

D.E. Shaw has bid to replace SunEdison as the operating sponsor of TerraForm Power, according to a regulatory filing on 21 October.

The non-binding bid was proposed by the hedge fund’s clean-energy unit D.E. Shaw Renewable Investments (DESRI), which believes the switch “would assist in stabilising TerraForm Power’s business and return the company to sustainable, long-term growth”.

This article requires Premium SubscriptionBasic (FREE) Subscription

Try Premium for just $1

  • Full premium access for the first month at only $1
  • Converts to an annual rate after 30 days unless cancelled
  • Cancel anytime during the trial period

Premium Benefits

  • Expert industry analysis and interviews
  • Digital access to PV Tech Power journal
  • Exclusive event discounts

Or get the full Premium subscription right away

Or continue reading this article for free

This news comes after the US$38 billion New York-based hedge fund said earlier this month that it may make an offer for SunEdison’s stake in the yieldco. Bankrupt renewables firm SunEdison was recently in discussions with its two publicly-listed yieldco subsidiaries to sell its ownership interest and other rights.

No price was disclosed with D.E. Shaw’s non-binding bid, but it intends to reorganise TerraForm Power’s project portfolio to “maximize value” for all stakeholders. In the filing, it was mentioned that DESRI is prepared to offer TerraForm Power a right of first offer (ROFO) on a portion of its existing and future projects.

D.E. Shaw already owns around 6.2 million shares of TerraForm Power stock. In light of this, the hedge fund said it would “welcome a sale of the company at a fair price that properly reflects TerraForm Power’s intrinsic value,” according to filing. “Unfortunately, a sale on such terms may not be currently possible. We believe that TerraForm Power’s current stock price reflects a significant discount to intrinsic value due to the company’s association with SunEdison’s financial distress, as well as TerraForm Power’s current operational and financial ailments.”

21 October 2025
New York, USA
Returning for its 12th edition, Solar and Storage Finance USA Summit remains the annual event where decision-makers at the forefront of solar and storage projects across the United States and capital converge. Featuring the most active solar and storage transactors, join us for a packed two-days of deal-making, learning and networking.
16 June 2026
Napa, USA
PV Tech has been running PV ModuleTech Conferences since 2017. PV ModuleTech USA, on 16-17 June 2026, will be our fifth PV ModulelTech conference dedicated to the U.S. utility scale solar sector. The event will gather the key stakeholders from solar developers, solar asset owners and investors, PV manufacturing, policy-making and and all interested downstream channels and third-party entities. The goal is simple: to map out the PV module supply channels to the U.S. out to 2027 and beyond.

Read Next

Premium
October 13, 2025
Brett Beattie of Castillo Engineering looks at some of the key land grading work that can make multimillion-dollar differences to projects.
October 13, 2025
Korean chemical production firm OCI Holdings has acquired a 65% stake in a Vietnamese solar wafer production plant, intending to export solar wafers to the US.
October 13, 2025
The Trump administration has cancelled the 6.2GW Esmeralda 7 solar project in Nevada – once touted as one of the largest in the world.
October 13, 2025
ANSI has approved a new traceability standard proposed by the SEIA to improve transparency of the solar and storage supply chain.
October 13, 2025
US solar manufacturer T1 Energy has acquired a minority stake in fellow US-based solar cell producer Talon PV.
October 10, 2025
US solar recycling firm OnePlanet has achieved the R2v3 certification from electronics sustainability non-profit SERI, which represents the “highest standards of traceability”.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
October 21, 2025
New York, USA
Solar Media Events
November 25, 2025
Warsaw, Poland
Solar Media Events
December 2, 2025
Málaga, Spain
Solar Media Events
February 3, 2026
London, UK