SunEdison Semiconductor News – SunEdison was a renewable energy company that went from being a silicon wafer manufacturer to a solar power giant, only to collapse under the weight of its debt and mismanagement. The company’s story is a dramatic example of how the solar industry can be both promising and perilous.
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SunEdison was founded in 1959 as Monsanto Electronic Materials Company (MEMC), a division of the multinational corporation Monsanto. The company produced silicon wafers for the semiconductor and photovoltaic industries and pioneered some innovations that became industry standards
In 2009, MEMC acquired SunEdison LLC, a privately held solar energy developer, for $200 million. This marked the beginning of MEMC’s transformation into a solar power company. In 2013, MEMC spun off its semiconductor business and changed its name to SunEdison Inc.
SunEdison embarked on an aggressive expansion strategy, developing, building, owning, and operating solar and wind power plants around the world. It also created two yieldcos, TerraForm Power and TerraForm Global, to own and operate its renewable energy assets and generate stable cash flows.
SunEdison’s stock soared over 2,000% from 2012 to 2015, reaching a peak of $33.45 per share in July 2015. The company was valued at more than $10 billion and was hailed as one of the fastest-growing and most innovative companies in the renewable energy sector.
SunEdison’s growth came at a high cost. The company accumulated more than $11 billion in debt by the end of 2015, as it pursued multiple acquisitions and projects that strained its balance sheet and cash flow. Some of its deals, such as the $2.2 billion takeover of Vivint Solar, faced opposition from shareholders and regulators.
SunEdison’s troubles worsened as the global solar market faced oversupply, falling prices, and policy uncertainties in 2016. The company’s financial performance deteriorated and it faced multiple lawsuits and investigations from creditors, shareholders, regulators, and former employees.
SunEdison filed for Chapter 11 bankruptcy protection on April 21, 2016, listing $16.1 billion in assets and $20.7 billion in liabilities. The company’s stock was delisted from the New York Stock Exchange and traded over the counter until it ceased operations.
SunEdison emerged from bankruptcy in December 2017 as a restructured, smaller, private company that sold most of its assets and businesses to various buyers. The company’s rise and fall is a cautionary tale of how excessive debt, overexpansion, and mismanagement can undo a promising business in a volatile industry.
Frequently Asked Questions SunEdison Semiconductor News (F&Qs)
Who owns the company SunEdison?
No one owns SunEdison. The company filed for Chapter 11 bankruptcy in 2016 and was subsequently sold off in pieces. The assets of SunEdison were purchased by a number of different companies, including Brookfield Asset Management, TerraForm Power, and TerraForm Global.
Who is the CEO of SunEdison Semiconductor?
There is no CEO of SunEdison Semiconductor because the company no longer exists. SunEdison Semiconductor was a subsidiary of SunEdison, which filed for bankruptcy in 2016. The assets of SunEdison Semiconductor were sold off in pieces, and the company no longer exists.
What is the revenue of SunEdison?
SunEdison’s revenue peaked in 2015 at $10.3 billion. However, the company’s revenue declined rapidly in 2016 as it struggled to repay its debt. SunEdison filed for bankruptcy in April 2016 and its revenue has been zero since then.
Here is a table showing SunEdison’s revenue from 2013 to 2016:
| Year | Revenue (in millions of USD) |
|---|---|
| 2013 | $3.8 billion |
| 2014 | $5.4 billion |
| 2015 | $10.3 billion |
| 2016 | $0 |
Who founded SunEdison?
SunEdison was founded in 2003 by Jigar Shah and Claire Broido Johnson. Shah is an Indian-American entrepreneur and clean energy expert who is known for his work in developing solar power markets. Johnson is a former investment banker who specialized in clean energy.
SunEdison Semiconductor News