Key Developments: SunEdison Inc (WFR.F)

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Latest Key Developments (Source: Significant Developments)

Sunedison Inc closes $390 mln of financing for 300 megawatt wind farm in Texas
Wednesday, 5 Aug 2015 07:30am EDT 

SunEdison Inc:Closes $390 mln of financing for 300 megawatt wind farm in Texas.Says begun construction on 300-megawatt (mw) south plains II wind farm in floyd county, Texas.Says Hewlett Packard-plans to purchase 112 megawatts of the wind farm's capacity.Says remaining 188 mw capacity will be sold to an affiliate of Citi.Says construction is targeted for completion in 2016.Says TerraForm Power anticipates acquiring the project once complete.  Full Article

Sunedison closes financing and to acquire the solar power plant
Tuesday, 28 Jul 2015 07:00am EDT 

SunEdison Inc:Closes financing and starts construction of a 110-megawatt solar energy plant in the metropolitan region of Chile.Says Sunedison secures $160 million usd non-recourse debt financing arrangement with corpbanca and dnb.Says TerraForm Power intends to acquire the solar power plant once interconnected in early 2016.Says financing will be used to fund the development, construction, and operation of the project.Says interconnection of the 110-mw solar plant is scheduled for the first quarter of 2016.  Full Article

SunEdison Inc acquires Mark Group
Tuesday, 21 Jul 2015 02:00am EDT 

SunEdison Inc:Says that it has acquired Mark Group, based in Leicester, United Kingdom, a full service energy solutions provider and a SunEdison solar sales and installation partner.  Full Article

Sunedison Inc's unit to buy Vivint Solar for $2.2 bln
Monday, 20 Jul 2015 07:10am EDT 

Sunedison Inc and Vivint Solar:Sunedison and TerraForm Power announce definitive agreement to acquire Vivint Solar for $2.2 billion.Says Sunedison to acquire Vivint Solar to drop down 523 mw rooftop solar portfolio to TerraForm Power.Says initiates 2017 guidance of $2.05, up from previous target of $2.00.Says initiates 2016 guidance of 4,200 mw to 4,500 mw deliv.Says under the merger agreement, Vivint Solar stockholders will receive $16.50 per share.Says Vivint Solar management team will join Sunedison.Sunedison expects that Vivint Solar will have approximately $100 million of cash on its balance sheet at the time of closing.Deal consideration consisting $9.89 per share in cash, $3.31 per share in Sunedison stock, and $3.30 per share in Sunedison convertible notes.Says TerraForm Power is also initiating 2017 dividend per share guidance of $2.05, up from its prior target of $2.00.Says sunedison's existing rsc development business and the Vivint Solar team will be merged.Says TerraForm Power is raising its prior 2016 dividend per share guidance of $1.70 to $1.75.Expects to issue about $370 million of common stock,$350 million of Sunedison convertible notes to Vivint Solar stockholders.Intends to fund the cash portion of the merger consideration primarily from the proceeds of a new $500 million secured debt facility.TerraForm Power has entered into a debt commitment letter with Goldman Sachs bank USA for a $960 million unsecured bridge facility.  Full Article

SunEdison, Inc announces commencement of initial public offering of TerraForm Global, Inc.
Monday, 20 Jul 2015 12:40am EDT 

SunEdison, Inc:Says that its wholly owned subsidiary, TerraForm Global, Inc., intends to commence an initial public offering of its Class A common stock on July 20, 2015.Application has been made for listing of the Class A common stock of TerraForm Global on the NASDAQ Global Select Market under the symbol "GLBL".J.P. Morgan and Barclays are serving as lead bookrunning managers and structuring advisors in the offering.Citigroup and Morgan Stanley are serving as active bookrunners.Goldman, Sachs & Co., BofA Merrill Lynch and Deutsche Bank Securities are serving as joint bookrunners in the offering.Additionally, BTG Pactual, Itau BBA, Kotak Mahindra, Inc., SMBC Nikko and Societe Generale are serving as co-managers in the offering.  Full Article

Renova Energia SA signed definitive contracts with TerraForm Global Inc, TerraForm Global LLC and SunEdison Inc
Thursday, 16 Jul 2015 08:00am EDT 

Renova Energia SA:Announces it has signed definitive contracts with TerraForm Global Inc ("TerraForm Global"), TerraForm Global LLC and SunEdison Inc.It has signed a securities swap agreement, for exchange of the shares of the company's subsidiaries that hold certain assets of the backlog with installed capacity for 2,204.2 MW, for the total enterprise value of 13.4 billion Brazilian reais.It also has signed an option contract under which TerraForm Global will have, until Dec. 31, 2016, a purchase option and first refusal for acquisition of renewable power projects in development and to be developed by the company once they sign long-term energy contracts.It also has signed the contracts announced on May 7 and on July 2.  Full Article

SunEdison Inc acquires 15 pct stake in Renova Energia SA from Light SA
Friday, 3 Jul 2015 07:44am EDT 

Light SA:Says that its subsidiary Light Energia SA signed an agreement with SunEdison INC to sell 50,561,797 ordinary shares currently held by Light Energia in Renova Energia SA to SunEdison INC.The shares' sale price, which currently corresponds to 15.87 pct of Renova's total capital stock, will be of $250 million.  Full Article

SunEdison Inc and Gamesa Corporacion Tecnologica SA Sign a Memorandum of Understanding to Develop up to 1 Gigawatt of Wind Power Plants
Thursday, 2 Jul 2015 02:00am EDT 

SunEdison Inc and Gamesa Corporacion Tecnologica SA:Have signed a Memorandum of Understanding (MoU) to create a joint venture to develop up to 1 gigawatt (GW) of wind energy power plants globally by 2018.SunEdison and Gamesa will each own a 50 percent stake in the joint venture.Under the terms of the agreement, Gamesa will supply the wind turbines and be responsible for operation and maintenance (O&M) of the wind power plants as part of long term O&M agreements.Gamesa may also provide engineering, procurement, and construction services for the projects.  Full Article

SunEdison Inc and TerraForm Power announce closing of Atlantic Power acquisition
Monday, 29 Jun 2015 08:00am EDT 

SunEdison:Sunedison and TerraForm Power announces closing of 521-mw atlantic power acquisition and concurrent formation of operating asset warehouse facility.521-mw operating asset acquisition, with expected annual average cafd of $44 million over the next 10 years.  Full Article

SunEdison Inc and Green Charge Networks team up
Wednesday, 24 Jun 2015 07:30am EDT 

SunEdison Inc:That they have teamed up to deliver a solar plus storage system to the municipal utility Silicon Valley Power.This project is part of an ongoing strategic partnership between SunEdison and Green Charge Networks.To deliver additional electricity savings to commercial and municipal customers throughout Calif.  Full Article

SunEdison to cut 15 percent of its workforce

- U.S. solar company SunEdison Inc said it would cut about 15 percent of its global workforce as part of a restructuring plan to integrate the businesses it bought recently.

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