|June 17, 2014|
|17:02 EDT||SUNE, AES||SunEdison, Riverstone Holdings to partner in Silver Ridge Power JV|
SunEdison (SUNE) has reached a definitive agreement to acquire a 50% ownership stake in Silver Ridge Power, or SRP, from a subsidiary of The AES Corporation (AES). Through its ownership in the SRP joint venture, SunEdison will own 50% of 336 MW of solar power plant operating projects and a 40% interest in the Tenaska Imperial Solar Energy Center West 183 MW solar power facility to be completed in 2016. SRP's assets include the currently operating 266 MW Mt. Signal solar project in California. The acquisition is expected to close in late June 2014, subject to customary closing conditions and receipt of regulatory approvals. Following the acquisition, the remaining 50% of SRP will continue to be held by an affiliate of Riverstone Holdings. After closing, Riverstone and SunEdison expect the joint venture to contribute the Mt. Signal project to SunEdison's yieldco subsidiary. In addition, following completion of the Tenaska Imperial Solar Energy Center West project, and subject to customary closing conditions and receipt of regulatory approvals, SunEdison expects to acquire Riverstone's share of SRP's interest in Tenaska Imperial Solar Energy Center West and to contribute a total of a 40% interest in Tenaska Imperial Solar Energy Center West to SunEdison's yieldco subsidiary in 2016.
News For SUNE;AES From The Last 14 Days
|April 16, 2015|
|11:27 EDT||SUNE||SunEdison initiated with an Outperform at Avondale|
|April 15, 2015|
|10:36 EDT||AES||BofA/Merrill U.S. credit analysts hold an analyst/industry conference call|
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|April 9, 2015|
|07:32 EDT||SUNE||SunEdison to construct three new solar power plants in Utah|
SunEdison (SUNE) has signed agreements to construct and install three new utility-scale solar power plants in southern Utah with a total capacity of 262 MW DC. PacifiCorp will purchase the electricity through three 20-year power purchase agreements according to its obligation under the federal Public Utilities Regulatory Policies Act. Construction of the power plants is expected to begin in the fall of 2015 with commercial operations expected in 2016. These projects are on the Call Right Projects List for TerraForm Power (TERP). SunEdison anticipates offering these projects to TerraForm Power for investment upon completion.
|April 8, 2015|
|16:06 EDT||SUNE||SunEdison breaks ground on 22.6MW Seven Sisters solar plant in Utah |
SunEdison broke ground for the 22.6 MW) DC Seven Sisters solar project in Southern Utah. The Seven Sisters are seven separate solar power plants. Rocky Mountain Power, a division of PacifiCorp will purchase the electricity under seven separate 20-year power purchase agreements with SunEdison. These projects are on the Call Right Projects List for TerraForm Power (TERP). SunEdison anticipates offering these projects to TerraForm Power for investment upon completion.
|06:22 EDT||AES||AES Corp. announces signing of Heads of Terms agreement at Maritza|
AES Corporation announced that one of its subsidiaries, AES 3C Maritza East has signed a Heads of Terms Agreement with NEK, the state-owned wholesale power company. Under the framework set forth in the HTA, both parties will endeavor to make certain changes to the Power Purchase Agreement, under which Maritza sells its output to NEK through 2026. Maritza and NEK agreed to reduce the capacity payment to Maritza under the PPA by 14% through the PPA Term. In exchange, NEK will pay Maritza its full outstanding receivables, which as of March 31, 2015 were approximately $236M. A binding agreement is expected to be signed by the third quarter of 2015 and is subject to customary regulatory approvals. The terms of the HTA, once implemented, will have an approximate 3c per share annual impact on the Company’s Adjusted EPS, which has been reflected in the Company’s 2015 guidance and expectations through 2018 provided on its fourth quarter earnings call on February 26, 2015.
|April 7, 2015|
|09:19 EDT||SUNE||Flextronics to manufacture solar modules for SunEdison |
Flextronics (FLEX) announced that it has been selected to partner with SunEdison (SUNE) to manufacture its solar modules—this time, in Mexico. SunEdison is the world's largest renewable energy development company and these solar modules will be primarily used in the USA for residential, utility and commercial photovoltaic projects. Flextronics will begin the full volume manufacturing in the Q1 of FY15 at its center of excellence for solar module manufacturing facility in Ciudad Juarez, Mexico.
|April 6, 2015|
|07:04 EDT||SUNE||SunEdison appoints Julie Blunden as SVP and Chief Strategy Officer|
SunEdison announced that Julie Blunden has been appointed Senior Vice President and Chief Strategy Officer of SunEdison, including responsibility for marketing, communications, investor relations and public policy. Blunden has previously served at CEO of ClimateWorks.