"SunEdison Files for Chapter 11 Bankruptcy Protection"

"SunEdison, which started out making chemicals and components for solar modules but grew into a giant of renewable energy, has filed for bankruptcy protection, the company said on Thursday. The filing, under Chapter 11 in the Southern District of New York, brings to an end the company’s ambition to become the world’s leading renewable energy development business.

Although some of its subsidiaries were included in the filing, it said, TerraForm Power and TerraForm Global, its publicly traded units known as yieldcos, were not.

“Our decision to initiate a court-supervised restructuring was a difficult but important step to address our immediate liquidity issues,” Ahmad R. Chatila, the company’s chief executive, said in a statement. “The court process will allow us to right-size our balance sheet and reduce our debt, providing the opportunity to support the business going forward while focusing on our core strengths.”"

Diane Cardwell reports for the New York Times April 21, 2016.