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Bloomberg: Chinese solar company to compete for SunEdsion's yieldco assets

Aug. 25, 2016 1:15 PM ETTerraForm Power, Inc. (TERP) StockBN, TERPBy: Carl Surran, SA News Editor43 Comments
  • China's Golden Concord Holdings is seeking to acquire assets including U.S. solar farms from bankrupt SunEdison (SUNE) and is planning to bid for SUNE's controlling stake in TerraForm Power (TERP +1.1%), Bloomberg reports.
  • A move by China's largest non-state owned solar company would pit it against a planned joint bid from Brookfield Asset Management (BAM -0.8%) and Appaloosa Management.
  • While SUNE has not yet made a motion to sell the stake in bankruptcy court, the appearance of a rival could bring a runoff for who will be the first bidder in a court-supervised auction, the report says.

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