Sunedison Inc. (fka SUNEQ)

[FEED_THE_FOXES]

First Wind did not build nor did it ever own California Ridge Wind. Invenergy developed the project and sold it to TERP in July 2015. The only wind projects that First Wind developed that sell energy in Califonia are in Utah and Washington under very rich long-term PPA's. In fact, the Utah project was built by financing the deal by the Southern California Public Water system which floated bonds to pre-pay 100% of the energy costs over the term of the PPA. First Wind couldn't get any bank or investors to fund the deal. First Wind won an award the year the deal closed for creative financing. When you look at SUNE revenues you have to net out the cash from the Cash Flow Statement since they already got the cash up front.

My advice to you and all the other "longs" is to accept that SUNE is going the Enron path. CH 11 allows the company to maximize sale proceeds where CH 7 would have created fire sales. It took Enron 5 years to liquidate. Companies succeed and perpetuate themselves based on generating free operating cash flow. The smart lenders and market will give a company 12-18 months to meet plan and show positive results. Then they pull the plug and cut off new funds. There are sound renewable companies out there that are growing organically. Stop wasting your time on SUNE. They are finished.

BTW. Want a tip? Tesla Motors is losing money fast and burning thru cash at an unsustainable rate. If they do not hit their production and sales projections over the next 1-2 quarters the big money players will pull their support. Short time?