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TerraForm Power Announces Receipt of Nasdaq Letter

BETHESDA, Md., May 16, 2016 (GLOBE NEWSWIRE via COMTEX) --

TerraForm Power, Inc. TERP, +1.81% an owner and operator of clean energy power plants, today announced that it received a notification letter on May 12, 2016 from a Director of Nasdaq Listing Qualifications. The notification letter stated that because TerraForm Power has not yet filed its Form 10-Q for the quarter ended March 31, 2016 (the "1Q2016 10-Q"), and because it remains delinquent in filing its Form 10-K for the year ended December 31, 2015 (the "2015 10-K"), TerraForm Power is not in compliance with Nasdaq Listing Rule 5250(c)(1), which requires timely filing of periodic reports with the Securities and Exchange Commission (the "SEC").

The notification letter stated that TerraForm Power had until May 16, 2016 to submit a plan to Nasdaq as to how it plans to regain compliance with Nasdaq's continued listing requirements. TerraForm Power submitted its compliance plan to Nasdaq today, May 16, 2016. If the Nasdaq staff accept TerraForm Power's plan, they can grant an exception of up to 180 calendar days from the due date of the 2015 10-K (the initial delinquent filing), or until September 12, 2016, to regain compliance. TerraForm Power intends to regain compliance by September 12, 2016 and therefore requested that the Nasdaq staff grant TerraForm Power an extension through such date. TerraForm Power may regain compliance at any time during the extension period upon filing with the SEC...