TerraForm Power, Inc. (TERP) - NASDAQ
  • Thu, Jun. 2, 2:19 PM
    • TerraForm Global (GLBL -4.1%) and TerraForm Power (TERP -0.2%) get notices of default from bondholders for failing to file their 2015 audited financial statements on time, according to SEC filings (I, II).
    • Delivery of the notices on May 31 starts the clock ticking on a 90-day period that could leave the companies at the mercy of lenders.
    • TERP's default warning notices involve $1.25B worth of bonds, while GLBL received a default notice from the trustee for the bondholders for $760M worth of senior notes.
    • The two companies have previously said the delays are due in part to SunEdison (OTCPK:SUNEQ), which provides systems needed to complete the reports.
    • The TerraForm companies are major creditors of SUNE, which filed for Chapter 11 bankruptcy in April.
    | Thu, Jun. 2, 2:19 PM | 113 Comments
  • Fri, May 20, 2:52 AM
    • A scheduled hearing regarding SunEdison's (OTCPK:SUNEQ) $300M bankruptcy loan in the U.S. Bankruptcy Court for the Southern District of New York has been moved to today.
    • Some of SunEdison's creditors and its yieldcos, TerraForm Global (NASDAQ:GLBL) and TerraForm Power (NASDAQ:TERP), had objected to the debtor-in-possession loan, which includes features that may help a group of lenders recoup their initial investment.
    | Fri, May 20, 2:52 AM | 83 Comments
  • Wed, May 11, 5:35 PM
    • Top gainers, as of 5.25 p.m.: JACK +9.4%. VALE +4.5%. LCI +4.0%. BHP +3.5%. WB +2.3%.
    • Top losers, as of 5.25p.m.: TERP -8.1%. JD -7.9%. DAL -6.4%. SINA -4.5%. LOXO -4.5%.
    | Wed, May 11, 5:35 PM | 3 Comments
  • Tue, May 10, 9:43 AM
    | Tue, May 10, 9:43 AM | 19 Comments
  • Mon, Apr. 25, 6:52 PM
    • TerraForm Power (NASDAQ:TERP) chairman Peter Blackmore has been named interim CEO. The appointment comes in the wake of SunEdison's bankruptcy, and the resignation of former SunEdison CFO Brian Wuebbels as CEO.
    • Blackmore's track record includes stints as the CEO of unified communications hardware/software provider ShoreTel and telecom equipment supplier UTStarcom.
    | Mon, Apr. 25, 6:52 PM | 9 Comments
  • Fri, Apr. 22, 4:08 AM
    • SunEdison (NYSE:SUNE) is vowing to to press ahead with plans to build solar projects across India, despite filing for Chapter 11 on Thursday after a $3.1B acquisition binge left it swimming in debt.The bankruptcy excluded India - the clean-power giant's largest market outside the U.S.
    • "Nothing really has changed other than that we will look for equity partners," said Pashupathy Gopalan, president of SunEdison Asia Pacific.
    • While two of its best known companies, TerraForm Power (NASDAQ:TERP) and TerraForm Global (NASDAQ:GLBL), are not part of the bankruptcy, SunEdison acknowledged responsibility for some of their debt in court papers.
    | Fri, Apr. 22, 4:08 AM | 58 Comments
  • Thu, Apr. 21, 2:25 PM
    | Thu, Apr. 21, 2:25 PM | 77 Comments
  • Thu, Apr. 21, 10:18 AM
    • SunEdison's (NYSE:SUNE) bankruptcy is one of the biggest (for a nonfinancial firm) in the past decade.
    • The company's Chapter 11 filing in Manhattan notes it had assets of $20.7B and liabilities of $16.1B as of Sept. 30, after the company pursued a multibillion-dollar acquisition spree over the past couple of years. Current liabilities were listed at up to $50B, Bloomberg noted.
    • The move is a "difficult but important step" to address liquidity, CEO Ahmad Chatila says. "The court process will allow us to right-size our balance sheet and reduce our debt, providing the opportunity to support the business going forward while focusing on our core strengths. It also will facilitate our continued work towards transforming the Company into a more streamlined and efficient operator, shedding non-core assets as well as taking other steps to help us get the most value out of our technological and intellectual property."
    • The company faces some two dozen legal claims, mainly from shareholders claiming misleading information. The Justice Dept. and SEC are investigating the firm over the failed Vivint Solar deal.
    • SUNE shares were halted just after the open for the news. In yieldcos: TerraForm Power (NASDAQ:TERP) up 7.5%; and TerraForm Global (NASDAQ:GLBL) up 10.1%.
    • Now read Lessons From The Fall Of SunEdison »
    | Thu, Apr. 21, 10:18 AM | 208 Comments
  • Thu, Apr. 21, 9:42 AM
    • SunEdison (SUNE +0.8%) has been halted as it's filed for bankruptcy protection.
    • The company listed liabilities of up to $50B in the filing.
    • SunEdison has commitments for new capital of up to $300M of debtor-in-possession financing, which will support day-to-day operations during a reorganization, CNBC says.
    • Updated 9:57 a.m.: It's a Chapter 11 filing made in Manhattan bankruptcy court today. In yieldcos: TerraForm Power (NASDAQ:TERP) is up 4.6%, while TerraForm Global (NASDAQ:GLBL) is up 8.1%.
    • Now read SunEdison's Collapse Should Change The Course Of The Solar Industry »
    | Thu, Apr. 21, 9:42 AM | 225 Comments
  • Wed, Apr. 20, 11:27 AM
    • SunEdison (NYSE:SUNE) is on the rebound today, up 25% (though that's now a mere $0.08/share), following on a revelation that David Einhorn cut his stake below the 5% threshold.
    • Einhorn dropped his interest to 2.8% from 6.8% in January, and his hedge fund Greenlight Capital cut its stake to 1.6% from 4% the same month. The moves may be a capitulation in the stock, just a few months after the company agreed to give former Greenlight exec Claire Gogel a board seat.
    • SunEdison had slipped 5.8% yesterday, after an 8.1% drop on Monday and a 37% fall Friday.
    • In yieldcos, TerraForm Power (NASDAQ:TERP) is up 2% and TerraForm Global (NASDAQ:GLBL) is down 2.3%. TerraForm Power is now the subject of a class action lawsuit from investors who bought stock between last May 7 and March 15 (the day before TerraForm Power missed a second deadline to file its 10-K).
    • Now read SunEdison's Collapse Should Change The Course Of The Solar Industry »
    | Wed, Apr. 20, 11:27 AM | 144 Comments
  • Tue, Apr. 19, 4:27 AM
    • A SunEdison (NYSE:SUNE) bankruptcy could drag in its two publicly traded holding company units, TerraForm Power (NASDAQ:TERP) and TerraForm Global (NASDAQ:GLBL), and will likely be "messy" due to their IPOs and the company's financing web of loans and credit lines.
    • "It's going to add much more complexity than normal," said Brandon Barnes, a senior analyst at Bloomberg Intelligence. "You're dealing with affiliates that may not want to be associated with the parent company."
    • A bankruptcy also has the potential to trigger defaults on multiple wind and solar farms that are generating revenue from selling electricity.
    • SunEdison had total debt of $11.7B as of Sept. 30, according to the last comprehensive figure reported.
    | Tue, Apr. 19, 4:27 AM | 57 Comments
  • Mon, Apr. 4, 4:57 AM
    • Are more bankruptcy bells chiming? SunEdison (NYSE:SUNE) is looking to sell all of its Indian assets or find partners for them, sources told the Mint newspaper.
    • The news follows reports that the solar company is preparing a chapter 11 filing and is in talks with two creditor groups to obtain a loan to fund its operations during the process.
    • SunEdison's two yieldcos, TerraForm Power (NASDAQ:TERP) and TerraForm Global (NASDAQ:GLBL), don't plan to file for bankruptcy protection, but bidders are said to have inquired about purchasing SUNE's stakes in both of the entities.
    • Previously: More details about an upcoming SunEdison bankruptcy (Apr. 03 2016)
    | Mon, Apr. 4, 4:57 AM | 114 Comments
  • Sun, Apr. 3, 9:44 AM
    • The company is preparing a chapter 11 filing and is in talks with two creditor groups to obtain a loan to fund its operations during the process, WSJ reports.
    • In one camp are senior bank lenders led by Deutsche Bank. In the other are a group of creditors that participated in a junior-debt offering in January that raised about $725M.
    • SunEdison's (NYSE:SUNE) two yieldcos, TerraForm Power (NASDAQ:TERP) and TerraForm Global (NASDAQ:GLBL), don't plan to file for bankruptcy protection, but their shares represent much of SunEdison's value.
    • In recent months, bidders have also inquired about purchasing SunEdison’s stakes in one or both of the TerraForm entities.
    • Previously: TERP, GLBL drop following report of pending SunEdison bankruptcy filing (Apr. 01 2016)
    • Now read Broader Implications From SunEdison's Impending Bankruptcy
    | Sun, Apr. 3, 9:44 AM | 132 Comments
  • Fri, Apr. 1, 6:49 PM
    • TerraForm Global (NASDAQ:GLBL) is down 13.3% after hours to $2.03, and TerraForm Power (NASDAQ:TERP) down 3.4% to $9.50, following a WSJ report stating parent SunEdison (SUNE - down 54% to $0.20) is preparing to file for Chap. 11 bankruptcy.
    • The paper states SunEdison is in talks with two creditor groups to obtain bankruptcy financing. Creditors are deemed "likely to take control of the company and its portfolio of power projects."
    • Two days ago: TerraForm Power CEO/former SunEdison CFO Wuebbels resigns
    • Now read TerraForm: Life Without SunEdison
    | Fri, Apr. 1, 6:49 PM | 107 Comments
  • Tue, Mar. 29, 9:18 AM
    | Tue, Mar. 29, 9:18 AM | 3 Comments
  • Tue, Mar. 29, 8:12 AM
    • "There is a substantial risk that SunEdison (NYSE:SUNE) will soon seek bankruptcy protection," says TerraForm Global (NASDAQ:GLBL) in an SEC filing today.
    • The TerraForm disclosure comes hours after the WSJ reported the SEC is probing whether SunEdison overstated its liquidity position last fall.
    • SUNE -35%, GLBL -16%, TERP -7.9% premarket
    | Tue, Mar. 29, 8:12 AM | 36 Comments
Company Description
TerraForm Power, Inc. owns and operates contracted clean power generation assets. The company's objective is to acquire assets with contracted cash flows primarily from owning solar and wind generation assets serving utility, commercial and residential customers. It intends to acquire other... More
Sector: Utilities
Industry: Diversified Utilities
Country: United States