The largest shareholder of the company that owns a majority of Prairie Breeze wind farms in Antelope, Boone and Madison counties is expected to file for bankruptcy protection in the coming weeks.
The Wall Street Journal is reporting that SunEdison, which at 34 percent is a majority owner in TerraForm Power, is preparing a Chapter 11 filing and is in talks with two creditor groups to obtain a loan to fund its operations during the process.
Last December, TerraForm announced the closing of a purchase and sale agreement originally executed last June of Prairie Breeze I. Prairie Breeze II and II are expected to be finalized this spring.
While SunEdison is the largest stakeholder in TerraForm, the two remain separate companies.
At the time of the purchase, Invenergy retained a 9.9 percent stake in the assets of the Prairie Breeze farms. Invenergy has continued to oversee operations and maintenance staff.
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Correction: TerraForm Power is the majority owner of Prairie Breeze and SunEdison serves as the largest shareholder of TerraForm. The Antelope County News apologies for the error.