As part of its ongoing efforts to regain regulatory compliance, TerraForm Global Inc. filed its financial results for the second quarter of 2016 and is expecting to file its third-quarter 2016 results in March.
"The reporting of our second quarter 2016 results demonstrates TerraForm Global's continued progress in positioning the Company for success," Chairman and interim CEO Peter Blackmore said in a Jan. 31 statement. For the second quarter of 2016, the yieldco posted adjusted EBITDA of $45 million, net income of $6 million, net revenue of $56 million and cash available for distribution of $43 million.
TerraForm Global acknowledged that it experienced delays in its ongoing efforts to finalize its financial statements and that it will be unlikely to file its reports for full year 2016 and first quarter 2017 by the SEC deadlines of March and May, respectively.
TerraForm Global and TerraForm Power Inc., holding companies affiliated with bankrupt renewable energy developer SunEdison Inc., are negotiating exclusively with Brookfield Asset Management Inc. over a potential acquisition.