SunEdison subsidiary TerraForm Global Inc. has delayed filing its first quarter report for 2016. In a filing with the Securities and Exchange Commission (SEC) on May 17, 2016, the company declared that it is unable to file Form 10-Q quarterly report for the period ending March 31, 2016 ‘without unreasonable effort and expense’.
The YieldCo of SunEdison is yet to file its annual report for 2015. And before the annual report is not published, it probably won’t bring out its Q1/2016 figures.
TerraForm Global stated that since for some of its services it is dependent on its parent company SunEdison, which will have a bearing on its own results. It categorically stated in the SEC filing, “The Company will not be able to file its Form 10-Q until it has completed and filed its Form 10-K for the year ended December 31, 2015. This process could require substantial time and resources, and we can provide no assurance that our ongoing review will not identify additional material weaknesses or other issues that would require remediation.”
Earlier this month, both YieldCo subsidiaries of SunEdison, TerraForm Power and TerraForm Global, had announced that they have an extension to file their annual reports. TerraForm Global said it would file its Q1/2016 results by June 30, 2016 and has got the extension to file two subsequent quarterly results 75 days after the respective quarter ends. TerraForm Power said it would file its annual report along with Q1/2016 by May 28, 2016.