SunEdison, Inc. (Belmont, Kalifornien, USA) kündigte an, das Unternehmen werde ein Photovoltaik-Kraftwerk in West-Texas errichten, das mit einer Gesamtleistung von 150 Megawatt (MW) die Stadt Georgetown 25 Jahre lang mit Solarstrom versorgen soll.
Solar power competes directly with energy. So when the price of oil goes down, solar energy becomes less economical. Yet when the price of oil has come down from $80s to the $50s, SunEdison has rallied 74% during the same period. It's worth pointing out that contrary to what one might expect, the price of oil actually doesn't have much of a correlation with the price of electricity in the U.S. as only 1% of the residential power comes from petroleum. Yet most solar stocks have been slammed during the period except SunEdison.
"In recent years, SunEdison has transitioned its business from supplying commodity silicon wafers that nobody really wanted, in to being full service solar energy provider with a growing pipeline of projects," said Cramer. Last May, SunEdison spun off its legacy semiconductor wafer business that allowed SunEdison's main solar business to be valued without the semiconductor portion holding it back. Then in June, the company created a YieldCo vehicle called TerraForm (NASDAQ:TERP). TerraForm is designed to own the solar-power projects that SunEdison builds and then use the cash to reward investors. Building solar-power assets and operating them are two different things. Once you build a solar power project, it can generate huge cash for many years. The creation of TerraForm gave SunEdison a new way of raising money through its solar business and investing in its pipeline.
"The strength in this stock is a testament to the idea that corporate breakups can make you a fortune," said Cramer. He added that the stock has more room to run due to its brilliant structure.
SunEdison (SUNE +1.9%) is building 3 Southern Utah solar plants with a combined 262MW of capacity. Construction is expected to start in the fall, and commercial operations in 2016. Utility PacifiCorp will buy the electricity created by the plants via 20-year purchase agreements. Prices will be at "the utility's avoided cost of electricity, which reflects the utility's costs to purchase or generate the power from other resources." For reference, SunEdison had a 2.6GW project backlog at the end of 2014, and a 5.1GW pipeline. Shares are higher on a good day for solar stocks.
Though SunEdison (NYSE:SUNE) missed Q1 estimates, it delivered 273MW of systems in Q1, up by 123MW Y/Y and topping guidance of 220MW-250MW. The miss was the result of retaining 202MW on the balance sheet, above guidance of 145MW-160MW, and selling just 71MW (below guidance of 75MW-90MW). With the help of the First Wind acquisition (closed in January), project pipeline rose 47% Y/Y and 110% Y/Y to 7.52GW, and backlog rose 100% Q/Q and 429% Y/Y to 5.2GW. Projects under construction rose 66% Q/Q and 67% Y/Y to 774MW.
Guidance: 300MW-340MW of Q2 delivered systems, with 245MW-270MW retained. Q2 cash available for distribution (CAFD) for retained MW of $35M-$40M. 2.1GW-2.3GW of 2015 delivered systems, with 1.84GW-2GW retained. CAFD for retained MW of $275M-$325M.
Financials: Marketing/admin spend +119% Y/Y to $193M, and interest expense +132% to $156M. Op. cash flow was -$308M thanks to project construction. SunEdison ended Q1 with $789M in cash, $130M in cash committed for construction projects, and $7.75B in long-term debt.
: SunEdison steigt gross in Brasilien und kauft von
Renova Energy 5 Projekte mit 99MW für $141 Millionen und weitere 9 Projekte mit 195 MW im Tausch gegen Aktien der Yieldco Terraform.Ausserdem hat Sunedison die Pipeline mit 2,2GW übernommen für $4.2 Milliarden Mit Gamesa hat SUNE ein MOU für ein JV Projekt in Indien und Mexiko von 1GW. Ausserdem hat SUNE auch von der indischen Firma Continuum 1,4 GW Portfolio übernommen
As part of the deal, five of the developer's wind projects in Bahia, totalling 99.2MW, have been sold, valued at BRL 451 million ($141 million) in a cash payment.
Renova has also sold another nine wind projects totalling 195.2MW for a total BRL 1.026 billion ($321 million) which will be paid in exchange for shares in the yieldco TerraForm.
SunEdison has also acquired Renova's renewable energy pipeline of 2.2GW for BRL 13.4 billion ($4.2 billion).
Last week, SunEdison and Terraform acquired the 930MW wind portfolio from Invenergy in the US and spent $2.4 billion on US developer First Wind's portfolio.
SunEdison also signed a memorandum of understanding to form a project development joint venture with Gamesa. The JV will acquire up to 1GW of Gamesa's pipeline to develop, with a focus on India and Mexico.
Elsewhere, SunEdison recently acquired Indian wind project developer Continuum and its 1.4GW portfolio, and Central American renewables developer Globeleq Mesoamerica and its 569MW porfolio.
Turbine manufacturer GE acquired a stake in Terraform and will provide servicing support to the yieldco's growing portfolio.
According to WIndpower Intelligence data, Renova Energia has 420MW operating projects in Brazil, and over 1GW in progress, of which some 800MW have yet to begin construction.
: Sunedson mit stärkerer Wachstumskurve u.Risiko
SunEdison has become one of the largest renewable energy developers with a global footprint. The company has a very strong project pipeline and solid brand recall. It is gaining scale rapidly through acquisitions. New yieldco focusing on emerging markets will capitalize from new acquisitions. ..... SunEdison - Major Partnerships and Acquisitions
The company has been expanding aggressively in the Indian subcontinent and has very recently signed a MoU with Gamesa Technologies (OTCPK:GCTAF) for the co-development of 1 GW of wind energy projects by 2018 in India and Mexico. Not only is the company expanding through acquisitions but also growing through the greenfield route. The company has already established 1 GW of solar capacity in the 2014 (almost 100% y/y growth). It has the potential to fulfill large gigawatt orders in the industry. The company has a solid project pipeline of 7.5 GW (6 GW in solar and 1.5 GW in wind energy), and a backlog at 5.2 GW (3.8 GW in solar and 1.4 GW in wind energy), as at the end of Q1 2015. I have been positive about SunEdison when the stock was $5 and continue to be bullish given the company's strong position in the growing renewable energy industry. .... SunEdison - Leading renewable Energy Player globally
The company has already built a strong position in the solar industry and is now set to do the same in the wind industry worldwide. Through the acquisition of First Wind, SunEdison made its entry into the wind industry. This added 1.6 GW to SUNE's existing pipeline. Not only this, the company is getting into hydro power as well. The company entered into a series of agreements in May 2015 for acquisitions in Brazil, China, India, Peru, Chile, South Africa and Uruguay.
Increasing Debt - SunEdison's debt have been rising. The company has secured $175 million of equity investments from Blackstone, Everstream and Altai and another $362 million non-recourse debt facility for emerging markets initiatives. The rapid increase in scale poses tremendous stress on the company's financial position. The company has been utilizing the success of TERP to rapidly raise both equity and debt to finance these large number of acquisitions. The company will have to carefully manage its liquidity position, otherwise it could run into financial issues.
SunEdison is a leading renewable energy company today globally and is set to expand rapidly in the coming years. Developing economies are increasing their reliance on clean energy. India has increased its solar installation target to 100 GW by 2022 from around 3.8 GW now. China too is set to increase its renewable energy target as highlighted during the climate change talks in Paris. These ambitious targets provide massive opportunities for large renewable energy developers to expand in these markets. Given the company's strong leadership position in the renewable energy space, strong project pipeline and a potential emerging market yieldco in place, I remain confident about the company and its future endeavors.
SunEdison to acquire Vivint Solar, to drop down 523 MW rooftop solar portfolio to TerraForm Power Accelerates SunEdison's expansion to become the leading global residential and commercial solar provider
- TerraForm Power to acquire 523 MW rooftop solar portfolio with expected unlevered annual CAFD of $81 million, generating attractive 9.5% 10-year average levered cash-on-cash yield......
: SunEdison Acquires Mark Group, a Leading UK Energy
SunEdison Acquires Mark Group, a Leading UK Energy Solutions Provider
2015-07-21 02:00 ET - News Release
Establishes Direct Sales Channel for SunEdison's Residential & Commercial Sales in this Growing Market
LONDON, July 21, 2015 /PRNewswire/ -- SunEdison, Inc. (NYSE: SUNE), the world's largest renewable energy development company, today announced that it has acquired Mark Group, based in Leicester, United Kingdom, the country's leading full service energy solutions provider and a SunEdison solar sales and installation partner. This acquisition establishes a direct sales channel for SunEdison in residential and commercial sales within the UK, providing customers with robust energy efficient products and services, and strengthens the company's global position as a renewable energy leader.
Mark Group is a leader in the UK residential market, offering its approximately two million UK customers energy efficient solar systems, heating systems and insulation products. The company is highly regarded with a proven track record in the commercial segment, having installed a 6 megawatt solar system which is currently the largest installation on a single rooftop in the UK.
"Mark Group is a seasoned leader in delivering energy efficient solutions to homeowners and businesses in the UK, and this acquisition will enable SunEdison to offer additional energy solutions, products, and services directly to customers," said Vikas Desai, SunEdison senior vice president of residential and small commercial. "By establishing a direct sales channel in the UK, we are augmenting our existing installation partner network to meet the growing demand for solar in this market. As we rapidly scale our business globally, we see the Mark Group expanding SunEdison's expertise and bandwidth in the consumer energy efficiency market, an excellent complement to our residential and commercial distributed solar business."
"We're really excited to become part of a dynamic and innovative company like SunEdison," said Bill Rumble, Mark Group chief commercial officer. "With this acquisition we now have the opportunity to deliver even greater value to our customers, helping them to enjoy long-term benefits from insulation, solar power and other expertly installed energy products."
At the beginning of 2015, SunEdison announced new solutions to bring solar energy to the residential and commercial sectors in the UK, including the launch of the SunEdison Energy Saver Plan, which makes it possible for homeowners to save up to 15 percent on their energy bills without any upfront costs. Mark Group is currently one of the SunEdison partners in the UK that sells and installs this innovative solution to homeowners.
SunEdison is the world's largest renewable energy development company and is transforming the way energy is generated, distributed, and owned around the globe. The company develops, finances, installs, owns and operates renewable power plants, delivering predictably priced electricity to its residential, commercial, government and utility customers. SunEdison is one of the world's largest renewable energy asset managers and provides customers with asset management, operations and maintenance, monitoring and reporting services. Corporate headquarters are in the United States with additional offices and technology manufacturing around the world. SunEdison's common stock is listed on the New York Stock Exchange under the symbol "SUNE." To learn more visit www.sunedison.com.
About Mark Group
Mark Group was founded in 1974 in Leicester, UK, and focuses on delivering a full range of energy solutions, including insulation, plumbing, heating and solar.
Forward Looking Statements
Certain matters discussed in this press release are forward-looking statements, including: we see the Mark Group expanding SunEdison's expertise and bandwidth in the consumer energy efficiency market; and the SunEdison Energy Saver Plan should allow homeowners to save up to 15 percent in their energy bills without any initial investment. Such statements involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Potential risks and uncertainties include changes in applicable regulatory requirements and incentives for production of solar power; and general business and economic conditions, including seasonality of the industry, and other risks described in SunEdison's filings with the United States Securities and Exchange Commission. These forward-looking statements represent SunEdison's judgment as of the date of this press release. SunEdison disclaims, however, any intent or obligation to update these forward-looking statements.
In addition to the buyout news, SunEdison raised its 2016 volume guidance and launched the IPO for its emerging market YieldCo. TerraForm had some news of its own, increasing its 2016 dividend guidance.
: Vivint Solar Acquisition Spiel mit dem Feuer
Sunedison nun in den Fängen der Shorties
Vivint Solar is the typical 'retained earnings' fantasy story of rooftop solar. Based on a realistic assessment of 1Q15 results, this deal overvalues VSLR 100% or more. Vivint Solar is a weak player because it depends 100% on the TPO model, which is essentially obsolete. Vivint needed a strong technology alliance, but SunEdison acquires a turnaround project it does not need. -..... Clearly Mr. Market is not sure what to make of this acquisition either. ... For a company that has run up $1.7 billion in retained losses so far, it is unclear how adding Vivint Solar to the mix will improve things.
Maryland Heights, USA ? Obwohl die meisten Analysten die Aktie des Solar- und Windenergie-Projektierers Sunedison auch nach der Vorlage der Quartalszahlen zum Kauf empfehlen, ist ein massiver Kurseinbruch eingetreten. So richtig erklären kann das niemand.?..Die meisten der selbstgesteckten Ziele wurden übertroffen, doch das Unternehmen schreibt unter dem Strich rote Zahlen. Einen Absturz der Aktie am Freitagvormittag um bislang rund 22 Prozent auf 15,51 Euro (Börse Stuttgart) rechtfertigt das nach Einschätzung von Analysten allerdings nicht.
Analysten ratlos wegen Kurssturz Bloomberg berichtet, dass sich die Analysten aufgrund der Ratlosigkeit zur aktuellen Kursentwicklung der Sunedison-Aktie am Kopf kratzen würden. Ein Aktienexperte von RBC Capital Markets räumt ein, man habe nach den Zahlen mit steigenden Kursen gerechnet.
Soso die sind doch bis über die Halskrause verschuldet
North American solar plays SolarCity (SCTY -8.6%), SunPower (SPWR -5%), and Canadian Solar (CSIQ -5.1%) are seeing big losses after SunEdison (down 21%) posted mixed Q2 results - revenue beat, EPS missed - and reiterated its full-year system delivery guidance. The Nasdaq is down 1.7%.
: SunEdison Partner bei 450 MW Four Brothers in Utah
.....establishing a joint venture (JV) for Four Brothers, a 420 megawatt (MW) DC, or 320 megawatt AC, solar project in Utah, developed by SunEdison. The project is now under construction and fully financed with an expected commercial operation date of mid-2016. The Four Brothers project is contracted under long-term power purchase agreements for 20 years with PacifiCorp (A-/A3), a subsidiary of Berkshire Hathaway Energy.
Under the terms of the JV, Dominion will invest approximately $500 million to acquire 50 percent of the cash equity and 99 percent of the tax equity in Four Brothers, including funding of construction. SunEdison will contribute the remaining portion of the capital required to complete the project, which it has fully financed through a $150 million four-year term loan with Deutsche Bank. The total $650 million financing package fully funds the project for completion and long-term ownership. ..... http://www.ariva.de/news/...ur-Brothers-Solar-Project-in-Utah-5456420
Im Moment geht ja alles was in Richtung Solar arbeitet in den Keller. Das hatten wir ja schon mehrfach. Die Shorties in den USA bestimmen die Richtung mit ihrem Computerprogrammen. Nun braucht man einfach Glück, den richtigen Zeitpunkt zum Einstieg zu erwischen. Jetzt verzweifeln Diejenigen, die drin sind, dann Diejenigen, die den Zug verpasst haben. Viel Glück!
rein gehen. Die Frage ist, kann sich der Wert nochmals halbieren oder ist bald Schluss. Ich glaube von 5 USD bis wieder Richtung 30 ist alles möglich bei den Amis. Die können die Kurse bei den Solaries bewegen wie sie wollen.