One time world beating renewable energy company SunEdison
has finally completed its reorganisation as a privately held
company under chapter 11 of the US Bankruptcy Code.
The $8.2 billion bankruptcy case was initially filled in
April 2016, but it took the best part of 20 months to complete
the reorganisation. As part of the bankruptcy the company sold
around $2.3 billion of assets includingits interest in two
yieldcos - publicly traded bundles of operating assets -
TerraForm Power and TerraForm Global. Canadian
company Brookfield Asset Management acquired
TerraForm Global for $787 million and a 51% stake in TerraForm
Power for $622 million.
The company initially ran into trouble after completing a
number of acquisitions and entering into several power purchase
agreements (PPAs) across the world, putting out hundreds of
millions of dollars with no short term returns....