SunEdison: Company files bankruptcy; local Rosalia chapter will continue

SunEdison, national renewable-energy company based outside St. Louis, will be filing bankruptcy, Fox Business reported Monday.

Shawn Elston, senior wind farm support specialist at SunEdison in Rosalia, said the company has asked all questions to be directed to the corporate office, but said the location in Rosalia is operated by SunEdison and owned by J.P Morgan Asset Management.

“The ownership of the wind farm isn’t going to change,” Elston said.

Elston said the Rosalia site was built by First Wind with the legal title of Palouse Wind LLC. He said SunEdison “acquired First Wind in entirety a little over a year ago.” Of the bankruptcy filing, he said he does not know much.

“I don’t know anymore than you,” he said.

According to the SunEdison website, the company is the largest global renewable energy development company. Listed under “SUNE” on the New York Stock Exchange, the stock plunged by more than 50 percent Monday from $0.43 to $0.21. The company started the year at $5.09 and was at $21.48 at the time when First Wind was acquired in November of 2014.

SunEdison could not be reached for comment, but Fox Business reported the company is preparing to file for chapter 11 bankruptcy and is currently in discussions to obtain a loan to fund its operations.

Elston said the Rosalia location will continue to operate as normal.

“We’re not taking our turbines out of the ground and leaving,” Elston said. “We’ll still be here producing power.”