Ben Harborne News

SunEdison Restrained from 'Unusual' Asset Transfers

Solar company SunEdison Inc said a U.S. court has restrained the company from making any unusual asset transfers until a hearing in a lawsuit brought on by investors of renewable energy company Latin American Power. SunEdison's shares fell as much as 33 percent to $1.37, hitting its lowest in more than 14 years. SunEdison said in October that it terminated a deal for Latin American Power five months after agreeing to buy the company, which owns wind and hydropower projects in Chile and Peru. The restraining order also affects SunEdison's yieldco TerraForm Power, SunEdison spokesman Ben Harborne said on Friday. "The judge's order will remain in place pending a hearing on Feb. 25 and does not affect either company's ability to conduct normal business operations," Harborne said in an email.