SunEdison gets greenlight to close US$150 million sale to GCL-Poly

Bankrupt renewables firm SunEdison has finally got the green light to proceed with the US$150 million sale of its FBR (Fluidised Bed Reactor) technology polysilicon assets to GCL-Poly Energy Holding after a deal was struck with company spinoff SunEdison Semiconductor.

SunEdison yieldcos up for grabs

Both yieldco subsidiaries of bankrupt renewables firm SunEdison have said they were seeking mergers or sales of their entire businesses after it became increasingly possible that SunEdison would not emerge from bankruptcy proceedings.

SunEdison receives 100 bids but ‘sum of parts’ well below debt levels

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.