Actionable news
0
All posts from Actionable news
Actionable news in VRX: VALEANT PHARMACEUTICALS INTERNATIONAL,

SunEdison Seeking Equity Partners for Operations in India

SunEdison Inc., the renewable energy company that filed for bankruptcy protection on Thursday following a $3.1 billion acquisition binge that left it swimming in debt, vowed to press ahead with plans to build solar projects in India, tapping equity partnerships to do so.

“Everyone in India has been partnering for equity,” SunEdison Asia-Pacific President Pashupathy Gopalan said in an interview. “We didn’t do that in the past, so now we have to do that. We have to learn from our peers and do what others have already done.”

The clean-power giant listed $16.1 billion of debt in Chapter 11 filings on Thursday in Manhattan federal court, making it the biggest U.S. bankruptcy in more than a year.

SunEdison’s troubles have been attributed to the company’s torrid pace of expansion and the buying spree, though the bankruptcy also comes as energy companies are succumbing to a...


More