What has lost investors over 95% of their investment in the last year and is hoping to get investors to double down in a losing bet? The company has lost money each of the last 4 years and has somewhere around $6billion of debt on its balance sheet. If you guessed Peabody Energy (NYSE:BTU), then you are correct. The coal giant has filed for Chapter 11 in the hopes of getting lenders to swap for equity. The company will continue operations and sell coal into 25 Countries while the US keeps getting energy from coal for about 35% of the portfolio. Let’s hasten the change to solar/storage baseload with no emissions and fuel cost volatility in a distributed network.
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Yann
Get the latest in state-by-state solar policy in an easy to understand podcast, discussed by SolarWakeup correspondent Frank Andorka with solar industry experts.
Frank travels the country to attend solar trade shows and talk with attendees about the hottest issues facing the industry today.
Today’s top story about two utility execs (Crane and Fanning) debating the merits of regulated, central power utilities versus merchant IPPs moving towards distributed services seemed like it may have some spillover from an interesting commentary (albeit brief) at the BNEF summit. At BNEF, a National Grid exec, boasted about the company’s investment in HVDC transmission that will try to connect the wind markets to the eastern networks (which Nat Grid services). On the panel was also the CEO of Enel Green Power who was quick to comment that investing in transmission just as storage is picking up seems interesting timing. I’m not sure what happens in monopoly board rooms but thinking further than the next quarter doesn’t seem to be the most likely…
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Everyone that knows me, knows that patience isn’t my strong suit. Specifically when I am waiting for a shoe to drop that I expect to be coming but it is taking longer than it should. I am talking specifically about the ‘potential’ bankruptcy filing by Sunedison. I don’t view it as a bad thing, it will give the company the ability to work some things out and perhaps come out stronger on the other side. The problem now is that the waiting game is keeping a lot of folks on the sidelines wondering what is going on and that doesn’t help anyone. In the meantime, we shall continue pressing refresh on the SEC website to see what is going on. One thing is sure, today is the last day that I will be publishing the oped pieces on what the SUNE situation means for solar.
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