TerraForm Global gets more time to file annual report


TerraForm Global, a unit of troubled U.S. solar energy company SunEdison, said its lenders had agreed to give the company another month to file its annual report, after it missed the March 30 deadline.

TerraForm Global, one of two SunEdison "yieldcos," said last week in a regulatory filing that it would join its parent and fellow yieldco TerraForm Power in delaying its annual report for the year ended Dec. 31.

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In the filing, TerraForm Global had also warned of "substantial risk" of bankruptcy at SunEdison.

TerraForm Global also said in the filing that it may not complete certain deals if its parent company goes into bankruptcy.

The company disclosed on Monday it had ended a deal for a hydro-electric power plant last week and had paid $10 million as termination fees.

TerraForm Global had agreed in July to buy two wind power plants and one hydro-electric power plant in Brazil from renewable energy company Renova Energia.

TerraForm Global closed the acquisition of the two wind power plants in September.