![]() They borrowed oodles to build large projects that delivered energy to utilities at increasingly attractive prices. After four months of pre-bankruptcy proceedings, the truce was a big relief.īoth firms were emblematic of the excitement over clean energy. Its debt exceeds $11 billion, gathered in just a few heady years.Īcross the Atlantic, Abengoa, a big Spanish renewable and engineering firm with €9.3 billion ($10.6 billion) of debt, narrowly avoided bankruptcy this week after three-quarters of its creditors granted it a temporary reprieve to allow for the approval of a debt-restructuring plan. A day earlier, the Wall Street Journal reported the firm was under investigation by the Securities and Exchange Commission (SEC) over accounting disclosures. ![]() ![]() On March 29th SunEdison, an American firm that calls itself the world’s largest renewable-energy development company, was described in a public filing as facing a “substantial risk” of bankruptcy.
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