Seeking Alpha

Solar stocks bounce after SunEdison files for project IPO

  • SunEdison has filed an S-1 for its anticipated solar project spinoff. The spinoff, named TerraForm Power, will own a slew of SunEdison-built solar projects, while generating revenue (and distributing related cash flows) from electricity sale agreements.
  • The IPO might pave the way for other companies with sizable downstream project portfolios, such as First Solar (FSLR +2.8%), JinkoSolar (JKS +9.7%), and Trina (TSL +8.2%), to do spinoffs of their own. SunEdison's move comes after SolarCity (SCTY +5.6%) twice raised funds by selling solar asset-backed notes.
  • Solar stocks are following SunEdison higher (TAN +2.6%). In addition to the aforementioned companies, gainers include SunPower (SPWR +2.5%), Yingli (YGE +3.5%), Canadian Solar (CSIQ +4.6%), and Daqo (DQ +1.5%).
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Comments (2)
  • jazitler
    , contributor
    Comments (12) | Send Message
     
    Greenberg's red flag doesn't do justice to SCTY or to the copywriters at GRPN. The writers at GRPN are the best around, so if anyone reads that ad, its worth the coupon discount just to get really good PR people writing about the SCTY business model. SCTY can make use of that copy. Backlash against Greeenberg's anti-SCTY campaign may account for today's SCTY pop as much or more than this SunEdison spinoff.
    29 May 2014, 03:27 PM Reply Like
  • jazitler
    , contributor
    Comments (12) | Send Message
     
    Busting through the 200 day moving average doesn't hurt SCTY either
    29 May 2014, 03:38 PM Reply Like
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