(Bloomberg) -- SunEdison Inc. is burning through its cash.
The world’s biggest clean-power developer was expected to have about $1.2 billion at the start of the year, an amount that may drop to $270 million if a pending court case doesn’t go its way, according to an estimate by Patrick Jobin, an analyst at Credit Suisse Group AG.
The company spent billions last year acquiring developers and power projects around the world. Now it’s spending more to convert in-progress wind and solar farms into electricity- generating assets that can be either sold off or retained for their long-term revenue streams. In the meantime, its balance sheet is dragged down by interest on almost $11.7 billion in debt, and two legal cases that threaten to crimp its cash position.
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