All signs were pointing to bankruptcy (April 17 and March 25) - they filed for Chapter 11 today. From the Wall Street Journal:
SunEdison Files for Chapter 11 Bankruptcy Protection
Solar-power company SunEdison Inc. filed for bankruptcy protection on Thursday, pledging to curb a debt-fueled global expansion that pushed the company’s stock to great heights before fueling its rapid collapse.
The filing caps a dramatic decline for a company that was worth nearly $10 billion last summer, when it nurtured plans to become a global clean-energy giant. SunEdison used a combination of financial engineering and cheap debt to buy up renewable-power projects around the world before the market turned sour last summer and investors soured on its business model.
A bit more:
The company's shares have lost 99% of their value in the past 12 months.
Holy crap - that is a loss. Nice to see that such a large chunk of our tax dollars were so well spent by the Federal Government. This is what happens when you try to do alt.energy as a baseload power source - it is simply not economically viable without large government subsidies (ie: our tax dollars).
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