SunEdison yieldcos to operate independently by early 2017

- Tuesday, November 29, 2016

SunEdison yieldcos to operate independently by early 2017
Source:BNamericas

SunEdison subsidiaries TerraForm Power and TerraForm Global said Tuesday that they plan to obtain complete operational independence from their bankrupt parent company by January 2017.

The TerraForm companies are yieldcos, or companies created to own and operate power plants.

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TerraForm Power, whose asset base includes 102MW of solar photovoltaic capacity in Chile, said in an investor presentation that it expects to report a full-year loss of between US$105mn and US$145mn for this year, versus a loss of US$208mn in 2015.

The company highlighted that its 2015 results are still under review and subject to change.

The projected 2016 results "are in-line with management expectations post SunEdison bankruptcy," TerraForm Power said in a statement.

TerraForm Global, which owns 307MW of wind capacity in Brazil and a 26MW solar farm in Uruguay, among other assets, said in a separate presentation it is projecting a net loss of between US$11mn and US$51mn for 2016.

The presentations follow media reports that Brookfield Asset Management is in talks to acquire TerraForm Power and, possibly, TerraForm Global.