SunEdison Separates its Semiconductor, Solar Businesses
SunEdison is going to spin off its semiconductor business from its solar business.
The company’s board of directors has unanimously approved an initial public offering of its semiconductor business to create SunEdison Semiconductor.
Just a few weeks ago, Norway-based Renewable Energy Corporation (REC) announced it would divide the company into two entities, launching the silicon and solar divisions as independent, listed companies.
SunEdison plans to sell a minority ownership interest in the semiconductor business to the public and to use proceeds from the separation to fund initiatives related to the solar business to repay existing indebtedness and for general corporate purposes. The newly formed SunEdison Semiconductor will operate as an independent company with a new board of directors.
SunEdison expects to file a registration statement with the Securities and Exchange Commission in the third quarter of 2013, with the initial public offering scheduled by early 2014, subject to market conditions. A final decision regarding the amount of interest to be sold to the public at the time of the IPO will be determined by SunEdison’s board of directors at a date to be determined.
Why bring buildings online? What information can operations teams glean from real-time data that they can’t just get from the monthly data provided by utility companies? Click to learn more.
- BuildingIQ's Meter Processing Flow
- Existing Building Technologies Combine for Increased Savings
- 2014 Environmental Leader Product and Project Awards
- Increase the Value of Demand Response Through Automation
- Improve Your Company's Environment and Energy Performance
- Smart Companies Utilize Integrated Energy Solutions
- 2013-20114 Winter Polar Vortex
- How "Fixed" is the Fixed Price Product?
- Combined Heat and Power
- Let's Do The Math for DR
- Cut Costs and Improve Facility Operations with Energy Data
- Energy Procurement Strategies for Winter 2014 and 2015
- Energy Efficiency Requires Engineering Efficiency
- Integrated Building Optimization: A Crucial Convergence of Demand-side and Supply-Side Energy Management Strategies
- Driving Productivity and Profit with Industrial Energy Management