One of North America's largest renewable energy companies, SunEdison, filed for bankruptcy last month, with debts totaling roughly $16.1 billion, Fox Business reported yesterday. The company's demise — it once attracted the interest of major hedge funds, such as David Einhorn's Greenlight Capital, Daniel Loeb's Third Point Management, and Larry Robbins' Glenview Management — represents yet another dramatic failure in the solar industry. The company's fall from grace also casts severe doubts on two of its spin-off companies: Terraform Power and Terraform Global. These sister companies allowed SunEdison to acquire solar and wind assets at a lower cost of capital. Because they shared interests in similar projects, the companies were disproportionately reliant on each other's success. Now that SunEdison has declared bankruptcy, what does the future hold for Terraform Power and Terraform Global?
