Of all the pieces of the former SunEdison empire, TerraForm Power is perhaps the biggest jewel, with over 3 GW of solar and wind projects, mostly in the United States. The first solar yieldco has also suffered substantially following the bankruptcy of its sponsor, and holds $1 billion in claims against SunEdison.
TerraForm has been openly looking for a buyer for months, and there has been no shortage of interest. Hedge fund manager David Tepper has long been scheming to buy the company on the cheap, but the failure of collaboration between his Appaloosa Investments and Brookfield Asset Management seems to have put a damper on these plans.
However, any sale of the company is problematic, given unresolved lawsuits and debts. In light of these problems hedge fund D.E. Shaw, itself a significant renewable energy asset owner, has come up instead with a new solution: to take over as the sponsor of TerraForm Power…
The rest of this article can be read on the pv magazine USA website.
This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: email@example.com.