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Here’s Why Sunedison Inc (SUNE), TerraForm Power Inc (TERP) Stocks Are Up Today

Positive commentary by Oppenheimer Research helps resurrect SunEdison Inc. and TerraForm Power Inc stock prices today

TerraForm Power Inc. (NASDAQ:TERP), one of SunEdison’s two yieldco vehicles, has struggled in recent months as troubles at the parent company continue to take a toll on the subsidiary. SunEdison, the fastest growing solar energy developer, went public with TerraForm Power in July 2014 in hopes that dropping down projects to the subsidiary would allow it to generate cash flow and lower financing costs for its future projects.

While going through a challenging period, SunEdison’s board of directors recently reshuffled some top management positions. On November 23, SunEdison announced its chief financial officer, Brian Wuebbels, will replace Carlos Domenech to assume the additional role of CEO for both yieldcos. Chairman Emmanuel Hernandez, was moved to the role of executive chairman, as part of the management shuffle. Mr. Hernandez believes the reorganization will improve the “effectiveness of our structure to focus on the organic development opportunities that lie ahead in order to deliver value for shareholders.”

The new appointments have raised concerns among investors about the close dealings between TerraForm Power and SunEdison, which raises questions over the fairness of the relationship and the deals that take place between them. Oppenheimer believes investors are rightly concerned, and is “somewhat cautious” about SunEdison’s control of the subsidiary which may lead to deals that favor the parent company.

http://www.bidnessetc.com/58419-heres-why-sunedison-inc-sune-terraform-power-inc-terp-stocks-are-up-today/