Saga of SunEdison Continues

SunEdison stock opened today at about $1.41 per share amid reports of serious issues with the continued viability of the company. The company has announced a new "asset light" strategy which involves selling off silicon wafer production facilities and reducing R&D and technology demonstration capability.

"Sunedison said it plans on: 1) selling its Kuching, Malaysia silicon wafer production facility, 2) close its Pasadena, Texas polysilicon production facility, 3) refocus its Portland, Oregon operations into a cost effective R&D and technology demonstration center." SunEdison Analysis

"With the changes, SunEdison expects to report $266 million in total non-cash impairment charges and a total of $171 million in other restructuring charges in its fiscal 2015 fourth quarter, and about $10 million to $13 million in other restructuring charges in fiscal 2016.

The Maryland Heights-based company plans to permanently close its Pasadena, Texas, polysilicon manufacturing plant, blaming the move in part on Chinese tariffs on U.S.-produced polysilicon. SunEdison had idled the plant in December as a result of Chinese trade actions, officials said. The plant, which SunEdison said it has operated for over 20 years, will shutter for good by the end of the third quarter, affecting about 180 workers, subject to collective bargaining obligations, the company said." Bizjournal

UBS(Link) has cut it's target for SunEdison's stock price to $0.75 per share.  This is penny stock territory and will ultimately result in the stock being delisted from the New York Stock Exchange.

Cutting jobs, selling facilities, falling share price, multiple law suits, and Hawaii Electric Company's(Link) termination of the power purchase agreement with SunEdison are all strong indicators of a company in trouble.

What is Georgetown's backup plan to provide electricity to its citizens next year?  Does Georgetown have any financial liability because of SunEdisons problems?