Dealing with module warranties from out of business manufacturers is a standard problem in today’s market, according to representatives from an advisory firm that oversaw one of the largest renewable energy deals to date.
Global alternative asset manager Brookfield announced Tuesday that it has entered into a definitive agreement with SunEdison yieldco TerraForm Power, under which Brookfield will assume the role of TerraForm Power’s sponsor and also become the controlling shareholder.
Canada’s Brookfield Asset Management has proposed a takeover of TerraForm Power and TerraForm Global – either by buying out 100% of the company for cash, or purchasing its existing Class A and Class B shares and replacing SunEdison as sponsor.
In this week's Movers & Shakers segment, PV Tech reports on management shuffles in yieldcos and Chinese module manufacturers. In addition, a Canadian energy company continues its US expansion, the REEEAC appoints new members and CleanChoice Energy reveals how community solar can become 'retail 2.0'.
Renewables firm SunEdison currently in Chapter 11 bankruptcy proceedings confirmed in a statement that it was in talks with its two publically listed yieldco subsidiaries to sell its ownership interest and other rights in the yieldcos.
The two renewable energy yieldco subsidiaries of Chapter 11 bankrupt firm, SunEdison are seeking over US$3 billion from their parent company over damages and sought settlement via discussions before heading to the courts.
Bankrupt renewables firm SunEdison has confirmed that it will collaborate with its two yieldco companies, TerraForm Power and TerraForm Global to hopefully sell and monetize its controlling Class ‘B’ shares in both companies.
SunEdison can emerge from the other side of the restructuring process following its Chapter 11 filing under the US Bankruptcy Code, according to Raj Prahbu, CEO of market intelligence firm Mercom Capital Group.