Deals
SunEdison Said to Map Restructuring Plan With TerraForm Stake
- Bankrupt solar and wind giant would hold on to TerraForm Power
- Keeping shares of yieldco could secure post-Chapter 11 growth
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Almost six months after filing the biggest U.S. bankruptcy of 2016, SunEdison Inc. is taking steps to work out a reorganization plan without liquidating a prize asset: its controlling stake in TerraForm Power Inc. according to people familiar with the matter.
TerraForm Power, a so-called yieldco that owns solar and wind projects developed by its parent, has begun talks with SunEdison’s creditors to start the process of evaluating the TerraForm assets, said one of the people, who asked not to be named because the discussions are private. Under such a reorganization, SunEdison could keep its shares in the yieldco and restructure around it, the people said.