SunEdison unveiled its 3Q14 financial results. The company met a US$681.2 million GAAP revenue, a US$540.5 Non-GAAP revenue. The solar segment showed 251 MW of solar energy systems retained on the balance sheet and 610 MW under construction; meanwhile, solar pipeline grew to 4.5GW. Completion of TerraForm Power Inc. helped initial public offering and related transactions, which is believed to create additional value for both the company and the shareholders.
"During the third quarter, we continued pursuit of the transformational strategy that the company has outlined,” said Ahmad Chatila, Chief Executive Officer. “Our leading project development team continued its strong execution track record by completing construction of 297 MW during the quarter while converting approximately 1.0 GW of future potential projects into backlog and adding 561 MW of gross pipeline during the quarter. We also successfully launched the TerraForm Power IPO in July. By taking advantage of the lower cost of capital of yieldcos, we believe we are able to create significant additional value for our shareholders."
Key segment financial results for the 2014 third quarter are set out in the following table. Financial results include the consolidation of Semiconductor Materials and TerraForm Power.
