By Tony Davis | Arizona Daily Star
A global renewable-energy developer that is the only publicly known supplier for the proposed $2B SunZia power line is on the edge of filing for reorganization under federal bankruptcy law, news reports and a subsidiary say.
Missouri-based SunEdison Inc., saddled with debt, disclosed in a public document filed with the Securities and Exchange Commission Friday that it has entered into confidential negotiations with lenders over proposed financing transactions. These transactions, known as debtor-in-possession loans, are typically done to prepare for Chapter 11 bankruptcy filings.
The company has proposed building a large New Mexico wind farm that would supply renewable power to the controversial SunZia project, whose power lines would slice through Southeast and Central Arizona.
