SunEdison Pivots Away From Yield Companies That Can't Buy Plants
- CEO Ahmad Chatila to hold new projects in bank warehouses
- SunEdison cuts 2016 project development plans by 20 percent
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SunEdison Inc. Chief Executive Officer Ahmad Chatila created two companies over the past 15 months to buy his solar and wind farms. Now he’s cutting them off, and investors like it.
The world’s biggest developer of renewable-energy power plants doesn’t expect to sell any projects through next year to the two units, TerraForm Power Inc. and TerraForm Global Inc., after they lost more than half their value.