SunEdison, Dominion Partner on 265 Megawatt, Three Cedars Solar Project in Utah
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Needham & Company Cuts Price Target on SunEdison (SUNE) Following Cash Flow Analysis
September 10, 2015 7:42 AM EDTNeedham & Company maintained a Buy rating on SunEdison (NYSE: SUNE), and cut the price target to $26.00 (from $31.00), following a cash flow analysis.
Analyst Edwin Mok commented, "Shares of SUNE recently rebounded a little but remains substantially below levels seen just a... More
SunEdison (SUNE) Deals Seen as Positive at Deutsche Bank
September 8, 2015 2:18 PM EDTDeutsche Bank maintained a Buy rating on SunEdison (NYSE: SUNE) with a price target of $28. Earlier SunEdison and Dominion (NYSE: D) announced a joint venture (JV) for the Three Cedars solar project. SunEdison also announced a strategic partnership with institutional investors advised by J.P. Morgan Asset Management to fund renewable energy... More
SunEdison (SUNE), Dominion (D) Enter Partnership Covering Three Cedars Solar Project
September 8, 2015 8:04 AM EDTSunEdison (NYSE: SUNE) and Dominion (NYSE: D) announced a joint venture (JV) for the Three Cedars solar project, a 265 megawatt (MW) DC, or 210 MW AC, solar project in Utah, developed by SunEdison. The announcement marks the expansion of a joint venture recently announced regarding Dominion's investment in the 420 MW DC Four Brothers solar project in Utah.
Similar to Four Brothers, the Three Cedars project is contracted under long-term power purchase agreements for 20 years with PacifiCorp (A-/A3), a subsidiary of Berkshire Hathaway Energy. The project is now under... More
SunEdison (SUNE) to acquire 33% Stake in 425-MW of Dominion Resources' (D) Solar Projects
September 8, 2015 8:04 AM EDTDominion Resources (NYSE: D) that it has agreed to enter into a partnership with SunEdison, Inc. (NYSE: SUNE), in which it would sell 33 percent of its ownership in 425 megawatts of solar generating capacity for approximately $300 million, subject to working capital and certain other adjustments. Under the terms of the agreement, SunEdison has a future option to buy all or a portion of Dominion's remaining 67 percent ownership.
Included in the agreement are 24 projects in... More
SunEdison (SUNE), J.P. Morgan Asset Management Enter Renewable Project Funding Agreement
September 8, 2015 8:02 AM EDTSunEdison (NYSE: SUNE) together with institutional investors advised by J.P. Morgan Asset Management Global Real Assets, today announced a strategic partnership to fund renewable energy projects in both operating and construction stages. Under the partnership commitment, J.P. Morgan's clients are expected to provide equity to purchase renewable energy projects developed or purchased by SunEdison. Remaining project costs are expected to be funded with traditional, non-recourse commercial bank debt and tax equity.
This partnership, which will be majority owned by J.P. Morgan's clients, and may be expanded with the agreement of... More
