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Brian Eckhouse: How a solar firm spent itself to the brink

SunEdison's growth-at-all-costs strategy is a key reason for its rapid fall


Brian Eckhouse 

Brian Eckhouse Just nine months ago, SunEdison Inc was Wall Street's favourite clean-energy company. It sopped up every dollar it could come by to finance a breathtaking buying binge of wind and solar farms, and in the process became the world's largest renewable energy company. Now, SunEdison is teetering on the verge of bankruptcy protection, its stock below $1. The company's fall is largely its own doing, the almost inevitable result of an ascent that was built on financial engineering and cheap debt. But it had plenty of enablers in the form of bankers, who pocketed fees with each ...

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First Published: Thu, March 31 2016. 21:48 IST