SunEdison's yieldcos exploring strategic options, sale possible
Yieldcos are publicly traded subsidiaries that hold renewable energy assets, including assets bought from their parents or sponsors.
The two companies said they are also considering replacing SunEdison with a new sponsor, by negotiating new sponsorship arrangements or by assuming SunEdison's existing sponsorship agreements.
Some of the strategic alternatives for TerraForm Global and TerraForm Power may require stockholder approval, while some may require approval of the U.S. Bankruptcy Court for the Southern District of New York, the companies said.
The yieldcos were not part of SunEdison's bankruptcy in April and the companies said at the time that they had sufficient liquidity to operate and that their assets were not available to satisfy the claims of SunEdison creditors. ■