TerraForm Global expects to be operationally independent by January

|About: TerraForm Global (GLBL)|By:, SA News Editor

TerraForm Global (GLBL -1.9%) says it is focused on implementing a stand-alone structure, allowing it to operate independently from SunEdison by January 2017.

GLBL says it expects to deliver FY 2016 revenue of $215M-$242M, a net loss of $11M-$51M and adjusted EBITDA of $153M-$180M, in-line with management expectations.

However, GLBL also sees 2016 cash available for distribution “substantially” lower vs. forecast pre-SunEdison bankruptcy due to various factors that also will adversely 2017 CAFD; factors include loss of financial and operational support from SUNEQ, increased debt service costs and uncertainty regarding the resolution of project-level restrictions on dividends and other payments.