SunEdison Inc., the Maryland Heights-based solar energy company that once ranked as the world’s biggest renewable energy developer, has emerged from Chapter 11 bankruptcy as a newly reorganized, private firm.
The move has appeared imminent since July, when the Bankruptcy Court of the Southern District of New York approved the company’s plan of reorganization.
The company first entered the Chapter 11 process in April 2016 and proceeded to sell $2.3 billion in assets, including its interests in prized affiliates, TerraForm Power Inc. and TerraForm Global Inc.
A release Friday said bluntly that, “SunEdison emerges with a significantly smaller footprint and will continue to focus on monetizing its remaining assets.”
Company representatives could not be reached for additional comment or details.
Read more: St. Louis Post-Dispatch