SunEdison strikes deals to boost balance sheet

After a rocky 2015, the world’s biggest clean energy company is taking steps to improve its balance sheet, announcing a pair of deals to reduce debt and sell its stake in a 336-megawatt portfolio of solar farms.

SunEdison agreed to swap $336 million of exchangeable notes for equity in some projects and shares in one of SunEdison’s holding companies, according to a statement Wednesday.

Separately, it completed a deal to buy 33 percent of a solar portfolio from Dominion Resources Inc. and immediately turned around and sold it to a joint venture SunEdison formed in September with investors advised by JPMorgan Chase & Co.

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