More on SunEdison's Q2 results, shares -15% premarket

|By:, SA News Editor

SunEdison (SUNE) -15% premarket after reporting a worse-than-expected Q2 loss.

The solar tech company formerly known as MEMC Electronic Materials says business conditions in its Q2 remained challenging but is optimistic regarding prospects for growth through the rest of the year.

Says Q2 results were affected by a slowdown in solar project development spending in 2012, due to the massive drop in panel prices caused by global oversupply and the loss of solar power subsidies in Europe.

Q2 sales in SUNE's solar energy business fell 72% Y/Y; sales in its semiconductor materials business rose 3%.

Expects adjusted solar energy system sales of 60-100 MW in Q3 vs 51 MW in Q2.