LET US ALL HOPE SUNEDISON et al GOES WHERE IT BELONGS...HADES! Click please..

SunEdison....Amid 'Increased Uncertainty'

 

  • The share price of Sunedison Inc (NYSE: SUNE) has plummeted 92.96 percent over the past one year, to trade almost at its 52 week low on February 12, at $1.41.
  • Patrick Jobin of Credit Suisse has downgraded the rating on the company from Outperform to Neutral, while lowering the price target from $19 to $3.
  • The downgrade in the rating is based on increased uncertainty regarding the company’s near term liquidity profile.

Anlayst Patrick Jobin mentioned that Sunedison has announced on February 18 that it had “reached an agreement to restructure the polysilicon business (including a net cash outflow of $119m).”

In addition, Hawaiian Electric Industries, Inc. (NYSE: HE) has announced its decision to cancel three PPAs with Sunedison due to the latter company having missed milestones that could lead to the reinstatement of debt up to $215 million due April 1.

The Appaloosa injunction order seeking to block the acquisition by TerraForm Power Inc’s(NASDAQ: TERP) of the residential solar assets of Vivint Solar Inc (NYSE: VSLR) “is still ongoing and presents another potential overhang, as we have written, in addition to the LAP litigation seeking $150m,” Jobin stated.

Jobin believes that the company has tried to move too rapidly, looking for “hyper growth” during a period when capital markets have been more challenged, thereby constraining its balance sheet.

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Maine Center For Public Interest Reporting – Three Part Series: A CRITICAL LOOK AT MAINE’S WIND ACT

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(excerpts) From Part 1 – On Maine’s Wind Law “Once the committee passed the wind energy bill on to the full House and Senate, lawmakers there didn’t even debate it. They passed it unanimously and with no discussion. House Majority Leader Hannah Pingree, a Democrat from North Haven, says legislators probably didn’t know how many turbines would be constructed in Maine if the law’s goals were met." . – Maine Center for Public Interest Reporting, August 2010 https://www.pinetreewatchdog.org/wind-power-bandwagon-hits-bumps-in-the-road-3/From Part 2 – On Wind and Oil Yet using wind energy doesn’t lower dependence on imported foreign oil. That’s because the majority of imported oil in Maine is used for heating and transportation. And switching our dependence from foreign oil to Maine-produced electricity isn’t likely to happen very soon, says Bartlett. “Right now, people can’t switch to electric cars and heating – if they did, we’d be in trouble.” So was one of the fundamental premises of the task force false, or at least misleading?" https://www.pinetreewatchdog.org/wind-swept-task-force-set-the-rules/From Part 3 – On Wind-Required New Transmission Lines Finally, the building of enormous, high-voltage transmission lines that the regional electricity system operator says are required to move substantial amounts of wind power to markets south of Maine was never even discussed by the task force – an omission that Mills said will come to haunt the state.“If you try to put 2,500 or 3,000 megawatts in northern or eastern Maine – oh, my god, try to build the transmission!” said Mills. “It’s not just the towers, it’s the lines – that’s when I begin to think that the goal is a little farfetched.” https://www.pinetreewatchdog.org/flaws-in-bill-like-skating-with-dull-skates/

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Hannah Pingree on the Maine expedited wind law

Hannah Pingree - Director of Maine's Office of Innovation and the Future

"Once the committee passed the wind energy bill on to the full House and Senate, lawmakers there didn’t even debate it. They passed it unanimously and with no discussion. House Majority Leader Hannah Pingree, a Democrat from North Haven, says legislators probably didn’t know how many turbines would be constructed in Maine."

https://pinetreewatch.org/wind-power-bandwagon-hits-bumps-in-the-road-3/

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