Two more lawsuits have been added to SunEdison’s growing number of legal challenges, including one from its own yieldco. The company has also filed a lawsuit against the U.S. Department of Energy over what it says is an effort by DOE officials to “intimidate” and silence critics of nuclear power. In 2015, the yieldco paid $231m to its parent for a portfolio of Indian projects, with the expectation that SunEdison would use the funds to complete the work and subsequently transfer the plants to TerraForm Global. In the second filing, DE Shaw and Madison Dearborn, acting on concerns that SunEdison will go bankrupt, have launched a lawsuit against SunEdison and its other yieldco, TerraForm Power, insisting that the companies owe them $231m as part of SunEdison $2.4bn acquisition of First Wind Holdings from January 2015.
Two more lawsuits have been added to SunEdison’s growing number of legal challenges, including one from its own yieldco. TerraForm Global is claiming that SunEdison used money allocated for projects in India to improve its own balance sheet. In 2015, the yieldco paid $231m to its parent for a portfolio of Indian projects, with the expectation that SunEdison would use the funds to complete the work and subsequently transfer the plants to TerraForm Global. In the second filing, DE Shaw and Madison Dearborn, acting on concerns that SunEdison will go bankrupt, have launched a lawsuit against SunEdison and its other yieldco, TerraForm Power, insisting that the companies owe them $231m as part of SunEdison $2.4bn acquisition of First Wind Holdings from January 2015.