U.S. solar company SunEdison Inc, whose aggressive acquisition strategy has saddled it with more than $11 billion of debt, is at “substantial risk” of bankruptcy, one of its two publicly listed units warned today, Reuters reported. SunEdison’s shares — already reeling from a Wall Street Journal report that the company was being investigated for overstating its cash position — fell as much as 38 percent in premarket trading. TerraForm Global Inc, one of two SunEdison “yieldcos,” said it would join its parent and fellow yieldco TerraForm Power Inc. in delaying its annual report for the year ended Dec. 31. However, TerraForm Global said that it did not rely substantially on SunEdison for funding or liquidity and that it would have sufficient liquidity to support its operations even if its parent sought bankruptcy protection. TerraForm Global’s annual report was due by March 30.
