TerraForm Global Issues Preliminary 2016 Financial Estimates - Quick Facts

(RTTNews) - TerraForm Global, Inc. (GLBL), a global owner and operator of clean energy power plants, announced, for full year 2016, the company expects to deliver revenue of $215 - $242 million, a net loss of $11 - $51 million and adjusted EBITDA of $153 - $180 million. The company expects key 2016 financial metrics to be in-line with management expectations post-SunEdison bankruptcy with curtailment and turbine outages offset by favorable performance, cost optimization and currency appreciation. The company expects 2016 cash available for distribution to be substantially lower than forecasted pre-SunEdison bankruptcy due to various factors, including loss of financial and operational support from SunEdison.

TerraForm Global expects to be operationally independent by January 2017. The company said it is taking significant actions to ensure business continuity as it separates operations from SunEdison. The company has developed a new organization structure to streamline business and allocate responsibilities.

The TerraForm Board has initiated a process to explore and evaluate potential strategic alternatives to maximize stockholder value, including a merger or sale of its entire business. TerraForm said this process is ongoing and the company will continue to provide updates as the process unfolds. TerraForm Global has engaged Centerview Partners, Greentech Capital Advisors and AlixPartners as financial advisors and Sullivan & Cromwell LLP as its legal advisor.