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SunEdison faces financial restructuring after bankruptcy
Solar power company SunEdison continues to navigate through financial restructuring after filing for US chapter 11-bankruptcy protection in April 2016. The company is said to have accumulated around $11.7bn in debt and may require a $310mn loan to fund it through a potential bankruptcy process. It has also warned that its first quarter earnings will be delayed.
SunEdison also expects to cut staff by 50% from October 2015 levels and make additional non-labour savings of $150mn. It is seeking to sell as much as 1 GW of unfinished projects in India.
News Item details
Journal title: Energy World
Subjects: Human and organisational factors, Banking, finance and investment, Economics, business and commerce, Energy consumption, Commercial, Business management, Solar power, Employment
