TerraForm Power, Global in talks with SunEdison over more than $3 billion in claims


On Sunday, TerraForm Power and TerraForm Global both announced that they have begun settlement discussions with SunEdison over more than $3 billion in claims that the two companies have against their sponsor for failing to prioritize the needs of stockholders, interfering with its business and failure to provide timely audited financials.

“TerraForm Power has lost a large part of its enterprise value as a result of SunEdison’s catastrophic breach of its sponsorship and legal duties”, said TerraForm Power Chair of the Corporate Governance and Conflicts Committee Jack Stark. Stark serves in the same role at TerraForm Global, which has filed a nearly identical statement.

TerraForm Power estimates that it has over $1 billion in claims against SunEdison, Global over $2 billion…

the rest of this article can be read on the pv magazine USA website.