Yesterday after the market closer, David Einhorn from Greenlight Capital sold around 11million of his Sunedison shares between $0.29 and $0.37 per share. Clearly not a winning trade for the hedge fund but better to get out now before a probable imminent bankruptcy filing. So when some in the media label Sunedison as taxpayer funded, make sure to tell them about the hedge funds, private equity funds and private capital that funded the corporation because I doubt that any of the tax equity is going to be at risk in the proceedings. It will be messy for sure but I doubt any taxpayer dollars will have been misappropriated in this case.
Opinion
News
1 Bloomberg:
SunEdison's Complex Finances Make Potential Bankruptcy `Messy'
2 Greentech Media:
Regulators Reject Third-Party-Ownership Petition in North Carolina
3 Vox:
How cheap does solar power need to get before it takes over the world?
4 Renew Economy:
New report shows 100% renewable by 2030 can save Australia money
5 Rocky Mountain Institute:
“Community Storage” Is a New Way to Think About Reducing Grid Costs
6 Utility Dive:
Utilities should join us in working toward a 21st century rate design
7 PV-Tech:
FERC to assess distributed solar-plus-storage impact on wholesale markets
8 Sun Herald:
NC regulators reject solar test of electricity monopoly law
Opinions:
9 NRDC:
It’s Alive! Senate Energy Bill Returns—But With More Problems for Our Environment
Have a great day!
Yann
Subsidy, seems like an ugly word and policy that almost everyone dislikes. But given the political environment we live in and conditioning of society to think long term, I wonder if subsidy is no longer considered bad but good. Ask your neighbor if more should have solar, likely answer is yes. Ask them if Government should subsidize it, likely answer is yes. Paying extra for your societal goals and social values is part of our DNA and we should test that concept more often. Be on the lookout - Sunedison is finalizing their DIP (bankruptcy) financing and likely files for protection shortly thereafter. Here is their deck they submitted to SEC on Friday. Rhone Resch has left SEIA after 12 years as the CEO, I look forward to see what is next for Rhone!
Opinion
News
1 PV-Tech:
SunShot Initiative’s ‘Orange Button’ programme to slash solar industry finance costs
2 Portland Press Herald:
Subsidizing solar power in Maine would cost us each less than $5 a year
3 Greentech Media:
Rhone Resch Is Stepping Down as Leader of the US Solar Industry’s National Lobbying Group
4 Bloomberg:
Cheaper Than China Again, First Solar Vindicates U.S. Investment
5 PV-Magazine:
SunEdison reveals details from its debtor-in-possession talks
6 Arizona Central:
Arizona solar ballot initiative launched by super PAC
7 Think Progress:
We Just Crushed The Global Record For Hottest Start Of Any Year
8 Fortune:
Ray Kurzweil - Here's Why Solar Will Dominate Energy Within 12 Years
Opinions:
9 Motley Fool:
3 Lessons the Solar Industry Has Learned the Hard Way
Have a great day!
Yann
These are the top 10 most read solar articles by your peers this week!
News
1 San Diego Union Tribune:
Anatomy of a solar meltdown
2 Greentech Media:
David Crane and Tom Fanning Spar Over Distributed Generation
3 Renewable Energy World:
With Too Much Solar, California Looks To West For Markets
4 Fortune:
Financial Turmoil at SunEdison Imperils Solar Projects Worldwide
5 Greentech Media:
Charting SunEdison Employee Morale Against Its Collapsing Stock Price
6 Renew Economy:
Why rise of solar, and fall in costs, still shocks energy experts
7 Boston Globe:
Governor Baker to sign solar compromise
8 The Economist:
Follow the sun
9 MIT:
Watching SunEdison’s Collapse, Solar Industry Resets
10 Fortune:
The Other Side of the Solar Firestorm in Nevada
The Top 10 is ranked by the number of SolarWakeup.com readers that clicked on the news article during the previous week. It is the poll of the most relevant solar news of the week as judged by your colleagues and competitors.
Have a great day!
Yann
Time for some Friday mash up. Vivint Solar held its first analyst call yesterday post Sunedison acquisition termination, looking to get investors back into the stock. Finnish oil giant Fortum is looking to buy Sunedison’s India assets and deploy some capital, and policy is always in play somewhere. One thing that makes the SolarWakeup community special is our communication. You can always send me an email or tips, even anonymously by going here. No need for a real email address if you want to pass along info confidentially. Everything is confidential.
Opinion
News
1 The Economist:
Solar power is reshaping energy production in the developing world
2 Greentech Media:
SunEdison Investigates Self, Finds No Evidence of Fraud
3 EDF:
We're wasting solar energy because the grid can't handle it all. Here's a solution.
4 NDTV:
SunEdison In Talks To Sell India Solar Stakes To Fortum - Report
5 Utility Dive:
Kicking the can - Massachusetts solar law buys time, but full incentive plan remains elusive
6 Portland Press Herald:
Revised solar bill picks up 10 more votes in Maine House
7 Huffington Post:
The Sun Also Rises - Saudi Arabia’s Future Lies in Renewables
8 Oregon Public Broadcasting:
Is The Future Of Solar Bright In Oregon?
Opinions:
9 Advanced Energy Economy:
Businesses to Lawmakers - Get Ohio Out of the Deep Freeze on Advanced Energy
Have a great day!
Yann
