The $26 Billion Hole That Has Clean Power Scrambling for Cover
For investors in yieldco stocks, it’s been a quick and wild ride.Roger that, solar is now stranded assets, over.
Two years ago, yield companies like TerraForm Power Inc. and NRG Yield Inc. were the newest, hottest thing for energy investors -- a way to make steady returns off the booming clean energy sector. Share values soared after they were spun off by parent companies eager to cash in. Today, those same parent entities have put as much as $26 billion worth of sales to their affiliates on hold after the market value cratered.
“Yieldcos are stranded right now,” said Ben Kallo, an analyst with Robert W. Baird & Co. in San Francisco....MORE
