SunEdison to sell 425MW of projects in India to TerraForm Global

Over the last twelve months Terraform Power Inc’s stock price has decreased by -72.68% from 32.43 to 8.86. Deutsche Bank now has a $18.00 price objective on the stock, down from their prior price objective of $30.00. The 12-month mean target is $24.83, which means upside potential of 196.65% over the current price. TerraForm Power has a 52 week low of $6.73 and a 52 week high of $42.66. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. The systems that SunEdison plans to place all over LA County are anticipated to power more than 1400 houses for the next 20 years.

The power purchases will help taxpayers save millions while supplying LA County with solar energy at predictable prices for the long-term future.

SunEdison Inc. shares surged 37 per cent on Tuesday after the US-based solar company announced that it would sell projects in India. The disclosure for this purchase can be found here. A total of shares of the company’s stock traded hands. The stock has a 50-day moving average of $16.47 and a 200 day moving average of $26.98. After opening at $15.74, the stock hit as high as $15.85. The company’s market capitalization is $1.09 billion. The Company’s branded agency networks operate in geographic regions, including the Americas, which includes North America and Latin America; EMEA, which includes Europe, the Middle East and Africa, and Asia Pacific, which includes Australia, China, India, Japan, Korea, New Zealand, Singapore and other Asian countries.

There’s nothing about these moves that screams good corporate oversight, and given the fact that Wuebbels has been CFO of SunEdison since 2012 as the company became an overleveraged renewable company, I have my doubts about his ability to turn around these yieldcos.

TerraForm Power (TERP – Get Report) stock is plunging 14.89% to $7.51 on heavy volume Wednesday after SunEdison’s (SUNE) stock rating was downgraded at UBS Research. Zacks Investment Research cut shares of Sunedison from a “buy” rating to a “hold” rating in a report on Friday, November 13th.

TERP was a big mover last session, as the company saw its shares rise roughly 6% on the day.

Out of 8 analysts covering Terraform Power Inc (NASDAQ:TERP), 4 rate it “Buy”, 1 “Sell”, while 3 “Hold”. (GLBL), a globally diversified owner and operator of clean energy projects, declared that they have entered into an agreement for SunEdison to sell TerraForm Global a series of projects located in India for the aggregate equity consideration of $231M subject to purchase price adjustments in favor of both SunEdison and TerraForm Global. The Company operates in three segments: Solar Energy, TerraForm Power and Semiconductor Materials through SunEdison Semiconductor Ltd. (SSL).