SunEdison’s loss widens as CEO slows growth, seeks cash

Ahmad Chatila, CEO of SunEdison Inc. | Photo courtesy of Ahmad Chatila/Twitter
Ahmad Chatila, CEO of SunEdison Inc. | Photo courtesy of Ahmad Chatila/Twitter

SunEdison Inc. reported a wider loss than analysts had estimated for the third quarter as CEO Ahmad Chatila cut staff and slowed growth to appease investors concerned about the clean-energy company’s financial liquidity. The shares plunged to the lowest in more than two years.

The Maryland Heights-based renewable energy developer reported a loss of $328 million for the third quarter, wider than the company’s loss in the same period last year, $283 million.

Chatila said the company has decided to slow the sale of projects to its yieldco — TerraForm Global and TerraForm Power — until market conditions improve.

Read more from Bloomberg and the St. Louis Business Journal


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