Terraform Power reports $208M net loss for 2015

|By:, SA News Editor

TerraForm Power (TERP +1.9%) reported a $208M net loss for 2015 in its first financial report in more than a year, with a loss attributed to common shareholders of $80M, or $1.25/share, as it seeks to break away from bankrupt parent SunEdison.

TERP said in its 10-K filing that it has had trouble accessing debt and equity markets since SunEdison filed for bankruptcy in April, and that it still relies on SunEdison for operational, systems and staffing support, among other things; TERP said the bankruptcy also led to the loss of $11.3M in cancellations for residential solar projects.

TERP said it "has a well-defined process and timeline and has asked bidders to provide firm pricing by a defined date in early January 2017, with binding bids due shortly thereafter."