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SunEdison files for bankruptcy
Credit: By Jeffery Smith | The Steuben Courier Advocate | Nov 20, 2016 | www.steubencourier.com ~~
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Translate: FROM English | TO English
COHOCTON – SunEdison, a global renewable energy development company, that operates and maintains over 100 turbine windmills in Cohocton recently filed bankruptcy.
Cohocton Wind and Dutch Hill Wind is owned by Terraforma, an investment agency, according to Jamie Johnson, executive director of the Steuben County IDA.
“The company that services and maintains (the windmills), SunEdison just filed for bankruptcy,” said Cohocton Supervisor Tom Johnson.
Johnson said the windmills are owned by Terraforma.
“They hired SunEdison to operate and maintain the windmills,” Tom Johnson said. “The question in the bankruptcy is the effect. If SunEdison is not operating and maintaining the windmills what is the future.”
Jamie Johnson said that question has not yet been answered.
“We still do not know the answer,” Jamie Johnson said.
SunEdison filed voluntary petitions for reorganization in April. The court process will allow SunEdison to right-size its balance sheet and reduce its debt, providing the opportunity to support the business going forward while focusing on core strengths.
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