>>> What to look at today - 17th of October 2014

US Market closed Flat fpr S&P, small Lower for Dow and 1.25% higher for Russell, Mkt was weak but rebound on Bullard comments, he said the Fed should consider delaying the end of its Quantitative Easing program, which is set to wind down at the October FOMC meeting. The market jumped from lows in reaction to the comments, but it is worth noting that Mr. Bullard is not a voting FOMC member this year and only an alternate voter on next year's schedule. The non-voter status did not get in the way of a surge in equities while Minneapolis Fed President (and FOMC voter) Kocherlakota provided a similar view, saying there is more the Fed can do to achieve maximum employment. NFLX-19.4%, AAPL -1.3% (new iPad), GOOGL -0.8% ahead of numbers...stock was down more than 2% after Hours on non inspiring numbers...Volume were again above 1bil shares...VIX @25.20 -4%...US After Hours: QLGC +8.4%, XLNX +3.4%, AMD -4.9%, SNDK -4.8%, COF-2.5%, GOOG -2.1% following earnings/guidance...CF US -3.9% After Hours on Termination of Merger with Yara... In Japan, Kuroda reiterated the central bank will continue easing until 2% inflation target is stable. Regarding the second sales tax hike, he said it would be difficult to respond if confidence is hurt by delaying tax hikes...Nikkei -1.05% Hang Seng +0.27% ...Shanghai -0.72%

Eur$ 1.2806 S&P +0.18% EuroStoxx-0.45% DAX -0.36% FTSE -0.45% SMI +0.20%

Macro
- Bullard ‘Nervous’ of Fed Staying at Zero as Economy Improves

Keep an eye on :
- AC FP : Accor 3Q Rev. In Line With Ests., Confirms 2014 Forecast
- AIR FP : Airbus to Raise India Plane Sales Forecast: Mint Link
- AIR FP : Airbus Signs Contracts Worth EU1.3b for 6 Weather Satellites
- BAER VX : Julius Baer Sees ‘Double-Digit’ China Stock Gains, Varnholt Says
- DELB BB : Half of Delhaize Belgian Stores Shut Today in Protest: Tijd Link
- DIOR FP : Christian Dior: 1Q Fiscal Yr ’14-’15 Rev. EU7.8b, Up 6%
- ELI1V FH : Elisa 3Q EPS, Net Beat Analyst Ests.; Raises Profit Forecast
- EO FP : Faurecia 3Q Sales EU4.39b vs EU4.12b Y/y; FY Targets Confirmed, CFO Sees 1% Reduction of FY 2014 Rev. on Fx
- F IM : Fiat Chrysler CEO Marchionne Buys 6.83m Company Shares: Filing
- NHH SM : Sells 97% stake in Sotogrande to Cerberus and Orion for €225M (implies share value of €4.22)
- SBRY LN : Rumors of Potential deal next week, Qataris mentionned of course, 2007 they made a £6/share bid
- TEF SM : Telefonica Said to Plan Cutting ~20% of German Jobs After E-Plus
- TLSN SS : TeliaSonera 3Q Ebitda Slightly Above Est.; Outlook Maintained
- TOM NO Tomra 3Q Net Income NOK131m vs Est NOK135m
- YAR NO : *YARA INTL. TERMINATION OF MERGER TALKS W/ CF INDUSTRIES

>>> Brokers Upgrades & Downgrades - 17th of October 2014

>>> Up
*AKZO NOBEL RAISED TO BUY VS HOLD AT ING
*CARREFOUR RAISED TO NEUTRAL VS UNDERPERFORM AT EXANE
*CSR RAISED TO EQUALWEIGHT VS UNDERWEIGHT AT BARCLAYS
*FAURECIA RAISED TO BUY VS HOLD AT SOCGEN
*FEDERAL GRID RAISED TO NEUTRAL VS UNDERWEIGHT AT JPMORGAN
*FERREXPO RAISED TO NEUTRAL VS UNDERWEIGHT AT JPMORGAN
*FIELMANN RAISED TO BUY VS HOLD AT HELVEA-BAADER
*MAN GROUP RAISED TO BUY VS NEUTRAL AT UBS
*ROYAL MAIL RAISED TO EQUALWEIGHT VS UNDERWEIGHT: MORGAN STANLEY
*TULLOW OIL RAISED TO BUY VS HOLD AT SOCGEN

>>> Down
*KUMBA IRON ORE CUT TO SELL VS NEUTRAL AT UBS
*MONEYSUPERMARKET.COM CUT TO HOLD VS BUY AT JEFFERIES
*PERFORM CUT TO HOLD VS BUY AT JEFFERIES
*REN CUT TO NEUTRAL VS BUY AT GOLDMAN
*TECHNICOLOR CUT TO EQUALWEIGHT VS OVERWEIGHT: MORGAN STANLEY

>>> PT Changes


>>> Initiation
*BODYCOTE RATED NEW OVERWEIGHT AT MORGAN STANLEY, PT 740P
*PORTUGAL TELECOM RESUMED UNDERWEIGHT AT MORGAN STANLEY
*SPIRAX-SARCO RATED NEW EQUALWEIGHT AT MORGAN STANLEY, PT 2,810P
*TSB BANKING RATED NEW SELL AT BERENBERG, PT 220P
*VIADEO RATED NEW BUY AT SOCGEN, PT EU16.3

>>> Call
>> Stock
*MARKS & SPENCER ADDED TO MORGAN STANLEY EUROPE BEST IDEAS
*UNICREDIT REMOVED FROM MORGAN STANLEY EUROPE BEST IDEAS

>>> Yara Confirms it has Terminated merger discussions with CF Industries Yara I

Confirms it has Terminated merger discussions with CF Industries Yara International ASA and CF Industries have terminated their discussions regarding a potential merger of equals transaction. 

"This has been a constructive process, with solid work by both parties. We were able to identify significant structural and operational synergies, but in the end it became clear that we would not be able to agree on terms that would be acceptable to all stakeholders," said Torgeir Kvidal, President and Chief Executive Officer of Yara International ASA.

"I would like to thank the management team and Board of Directors of CF Industries for their hard work and cooperation throughout the discussions," said Kvidal.

"Yara has an industry-leading business model combining a broad product portfolio and an unrivalled global market presence. Furthermore, we have a strong pipeline of attractive growth opportunities, from which we will continue to deliver sustainable long-term value for our shareholders, customers and society at large," said Kvidal.

(BFW) *YARA INTL. TERMINATION OF MERGER TALKS W/ CF INDUSTRIES

BFW 10/17 05:43 *YARA INTL. TERMINATION OF MERGER TALKS W/ CF INDUSTRIES
BN 10/17 05:42 *YARA SAYS WILL CONTINUE TO DELIVER L/T VALUE
BN 10/17 05:41 *YARA, CF INDUSTRIES COULDN'T AGREE ON TERMS
BN 10/17 05:41 *YARA INTL. TERMINATION OF MERGER TALKS W/ CF INDUSTRIES
BN 10/17 05:41 *YARA INT'L TERMINATION OF MERGER TALKS W/ CF INDUSTRIES
BN 10/17 05:41 *YARA INTL TERMINATION OF MERGER TALKS W/ CF INDUSTRIES
Yara International ASA: Termination of merger discussions with CF Industries
2014-10-17 05:41:33.526 GMT

Yara International ASA: Termination of merger discussions with CF Industries

Oslo, 13 October 2014: Yara International ASA and CF Industries have
terminated their discussions regarding a potential merger of equals
transaction.

"This has been a constructive process, with solid work by both parties. We
were able to identify significant structural and operational synergies, but in
the end it became clear that we would not be able to agree on terms that would
be acceptable to all stakeholders," said Torgeir Kvidal, President and Chief
Executive Officer of Yara International ASA.

"I would like to thank the management team and Board of Directors of CF
Industries for their hard work and cooperation throughout the discussions,"
said Kvidal.

"Yara has an industry-leading business model combining a broad product
portfolio and an unrivalled  global market presence. Furthermore, we have a
strong pipeline of attractive growth opportunities, from which we will
continue to  deliver sustainable long-term value for our shareholders,
customers and society at large," said Kvidal.
Contact

Anders Lerstad, Investor Relations
Cellular (+47) 93 42 69 54
E-mail anders.lerstad@yara.com

Esben Tuman, Media Relations
Cellular (+47) 90 50 84 00
E-mail esben.tuman@yara.com

Yara delivers solutions for sustainable agriculture and the environment. Our
fertilizers and crop nutrition programs help produce the food required for the
growing world population. Our industrial products and solutions reduce
emissions, improve air quality and support safe and efficient operations.
Founded in Norway in 1905, Yara has a worldwide presence with sales to 150
countries. Safety is always our top priority.
www.yara.com

This information is subject of the disclosure requirements acc. to §5-12 vphl
(Norwegian Securities Trading Act)

(BFW) APPLE EVENT WRAP: IPad Air 2, IPad Mini 3, Apple Pay, 27" IMac

APPLE EVENT WRAP: IPad Air 2, IPad Mini 3, Apple Pay, 27" IMac
2014-10-16 19:44:18.321 GMT


By Jeran Wittenstein
Oct. 16 (Bloomberg) -- Apple shares turned positive briefly
during event in Cupertino, Calif., after falling as much as 2.2%
earlier; CEO Tim Cook said pre-orders of iPhone in China set new
record.

IPADS:
* IPad Air 2 is 6.1mm thick, has up to 10-hour battery life,
A8X chip, Touch ID, 8MP iSight camera
* IPad Air 2 Wi-Fi models start at $499 for 16GB model, $599
for 64GB, $699 for 128GB; offered in gold, silver and grey
* IPad mini 3 has Touch ID Retina display, A7 chip, 5MP iSight
camera; available in gold, silver and grey
* Mini 3 Wi-Fi models start at $399 for 16GB, $499 for
64GB, $599 for 128GB
* Mini 3 Wi-Fi models start at $399 for 16GB, $499 for
64GB, $599 for 128GB</li></ul>
* IPad mini w/ Retina Display (now called iPad mini 2) starts
at $299
* Pre-orders of iPad Air 2, iPad mini 3 start tomorrow; see
statement

IMAC:
* 27-inch iMac w/ Retina 5k display comes w/ 3.5GHZ quad-core
Intel Core i5 processor, AMD Radeon R9 M290X graphics, has
5120 x 2880 resolution, uses 30% less power; see statement
* Starts at $2,499; begins shipping today
* Starts at $2,499; begins shipping today</li></ul>
* Mac mini update has 4th generation Intel Core processors,
Wi-Fi and Thunderbolt 2 and costs from $499-$999; see
statement

APPLE PAY:
* Available for U.S. consumers on Oct. 20; see statement
* Apple Pay available on iPhone 6, 6 Plus, iPad Air 2,
iPad mini 3
* Apple Pay available on iPhone 6, 6 Plus, iPad Air 2,
iPad mini 3</li></ul>
* AAPL said more than 500 new banks have agreed to participate
w/ Apple Pay

SOFTWARE:
* OS X Yosemite available today for free; see statement
* Features continuity among other Apple devices
* Features continuity among other Apple devices</li></ul>
* AAPL also made improvements on iOS 8 after user feedback

APPLE WATCH:
* AAPL reiterates Apple Watch will ship early next yr

DATA:
* AAPL 48 buy ratings, 11 holds, 5 sells, avg. PT ~$112:
Bloomberg data
* AAPL reports 4Q results Oct. 20

For Related News and Information:
First Word scrolling panel: FIRST<GO>
First Word newswire: NH BFW<GO>

--With assistance from Beth Mellor in New York.

To contact the reporter on this story:
Jeran Wittenstein in San Francisco at +1-415-617-7203 or
jwittenstei1@bloomberg.net
To contact the editors responsible for this story:
Arie Shapira at +1-212-617-1488 or
ashapira3@bloomberg.net
Beth Mellor

>>> US After Hours

After Hours Summary: QLGC +8.4%, XLNX +3.4%, AMD -4.9%, SNDK -4.8%, COF -2.5%, GOOG -2.1% following earnings/guidance

After Hours Gainers: Companies trading higher in after hours in reaction to earnings: QLGC +8.4%, XLNX +3.4%

Companies trading higher in after hours in reaction to news: AMPE +20.0% (announced positive results of the open label portion of the multiple intra-articular injections study of Ampion in patients with osteoarthritis of the knee at week twelve of the trial), COCO +16.7% (disclosed it entered into a Forbearance and Consent Agreement), SRPT +10.6% (announced publication of Ebola and Marburg Phase I clinical study results in antimicrobial agents and chemotherapy; results show PMOplus drug candidates to be well-tolerated with no clinically significant effects on any evaluated safety parameters observed), HCLP +3.7% (announced 9% increase in third quarter 2014 distribution to $0.625 per unit), NCT +0.8% (announced details for completion of spin-off of senior living business)

After Hours Losers:

Companies trading lower in after hours in reaction to earnings: AMD -4.9%, SNDK -4.8%, COF -2.5%, GOOG -2.1%, ATHN -1.7%, GBL -0.4%

Companies trading lower in after hours in reaction to news: URBN -13.2% (reportd Q3 negative comparable retail segment net sales has continued quarter-to-date; gross profit margin may deleverage at a rate greater than during the first half of the year), CF -3.1% (announced the termination of merger discussions with Yara International), EARN -1.1% (co requested the withdrawal of its registration statement on Form S-11; intends to register on Form S-3)

>>> Asian Update

Asian Market Update: Equities settle on speculation the Fed may reassess QE exit

***Economic Data*** - (SG) SINGAPORE SEPT ELECTRONIC EXPORTS Y/Y: -4.0% V -0.3%E; NON-OIL DOMESTIC EXPORTS M/M: -8.8% V -4.3%E; Y/Y: 0.9% V 2.9%E - (SL) SRI LANKA LEAVES REVERSE REPO RATE UNCHANGED AT 8.00% (EXPECTED); LEAVES REPURCHASE RATE UNCHANGED AT 6.50% (EXPECTED) - (JP) Japan investors bought net ¥796.0B in foreign bonds v sold ¥168.6B in prior week; Foreign investors sold net ¥254.3B in Japan stocks v bought ¥184.5B in prior week - NPD: Sept US video game sales $1.1B v $561.3M m/m, +2% y/y - (CL) CHILE CENTRAL BANK CUTS OVERNIGHT RATE TARGET BY 25BPS TO 3.00%, AS EXPECTED - (CO) COLOMBIA AUG INDUSTRIAL PRODUCTION Y/Y: 0.3% V 1.6% PRIOR - (CO) Colombia Aug Retail Sales Y/Y: 7.5% v 5.6%e

***Index Snapshot (as of 02:30 GMT)*** - Nikkei225 -0.7%, S&P/ASX +0.4%, Kospi -0.3%, Shanghai Composite -1.1%, Hang Seng +0.2%, Dec S&P500 +0.6% at 1,861, Dec gold -0.2% at $1,238, Nov crude oil +0.8% at $83.32/brl

***Market Focal Points/Key Themes/FX*** - The panic drums are beating softer relative to yesterday's session, tracking a bounce in US bourses overnight after Fed's Bullard hinted the pace of QE exit may not be etched in stone. This could potentially reverse the recent sentiment of "bad news = bad for markets" as it brings the pace of FOMC easing back into play. S&P/ASX is outperforming, with materials benefiting from a rebound in crude and metals from extreme lows in early US session. Shanghai Composite is lagging however, with analysts citing the uncertainty regarding the schedule of Hong Kong-Shanghai trading link.

- Appearing before parliament for the second consecutive day, BOJ governor Kuroda reiterated the central bank will continue easing until 2% inflation target is stable. Regarding the second sales tax hike, he said it would be difficult to respond if confidence is hurt by delaying tax hikes. USD/JPY briefly tested US-hours highs near 106.50, but has since retreated toward 106.10 entering afternoon session.

- In a press conference out of the US, President Obama addressed the growing concerns around Ebola. He said that a travel ban was not the best way to go as it was less effective than screening measures. Obama added that travelers could end up in the US anyway leading to more rather than few Ebola cases, and that he would consider appointing an "Ebola czar" to streamline containment efforts.

***Commodities/Fixed Income*** - (AU) Australia MoF (AOFM) sells A$500M in 4.25% bonds due 2017; Avg yield: 2.5295%; Bid-to-cover: 3.94x - (US) Weekly Fed Balance Sheet Total Assets for week ending Oct 15th: $4.47T v $4.45T prior; M1 y/y change: 10.7% (3-week high) v 9.8% w/w; M2 y/y change: 6.2% (3-week high) v 5.6% w/w - (US) AUG NET LONG-TERM TIC FLOWS: +$52.1B (6-month high) V -$18.6B PRIOR; TOTAL NET TIC FLOWS: $74.5B V $60.2B PRIOR - JGB: (JP) Japan's MoF sells ¥2.46T in 0.1% (0.2% prior) 5-yr notes; Avg yield: 0.134% v 0.179% prior; Bid to cover: 4.54x v 3.69x prior

***Equities*** US markets: - SRPT: Announces Publication of Ebola and Marburg Phase I Clinical Study Results in Antimicrobial Agents; +10.0% afterhours - XLNX: Reports Q2 $0.62 v $0.55e, R$604.3M v $601Me; +3.9% afterhours - SLB: Reports Q3 $1.49 v $1.46e, R$12.6B v $12.7Be; +1.5% afterhours - SYK: Reports Q3 $1.15 v $1.14e, R$2.39B v $2.33Be; flat afterhours

- ATHN: Reports Q3 $0.27 v $0.28e, R$190M v $190Me; -2.0% afterhours - GOOG: Reports Q3 $6.35 v $6.46e, R$13.17B v $13.2Be; -2.1% afterhours - COF: Reports Q3 $1.86 v $1.92e, R$5.64B v $5.54Be; -2.6% afterhours - CF: Announces termination of merger discussions with Yara International; -3.9% afterhours - SNDK: Reports Q3 $1.45 v $1.36e, R$1.75B v $1.76Be; -5.1% afterhours - AMD: Reports Q3 $0.03 v $0.04e, R$1.43B v $1.47Be; Announces workforce reduction of 7%; -5.3% afterhours

Notable movers by sector: - Consumer Discretionary: Virgin Australia VAH.AU -1.3% (Q1 results) - Materials: Ramelius Resources RMS.AU +8.7% (Q1 production results); Kingsgate KCN.AU +5.6% (Q1 production results) - Energy: Kansai Electric Power 9503.JP +1.5% (raises H1 guidance) - Industrials: Tadano Ltd 6395.JP +7.0% (raises H1 guidance); AVIC Aircraft 000768.CN +5.1% (to further invest in large-sized aircraft projects) - Utilities: J-Power 9513.JP +1.6% (plans to build new power plant)

>>>US Close Dow -0,15% S&P+0,01% Nasdaq +0,05% Russell +1,25%

Closing Market Summary: S&P 500 Ends Flat After Erasing Early Loss

The major averages endured another whipsaw session that ended with a flat finish for the S&P 500 while the Russell 2000 (+1.1%) registered its second consecutive advance. The price-weighted Dow was the weakest performer of the day with a loss of 0.2%.

Equity indices tumbled out of the gate for the second day in a row amid broad-based selling pressure that also weighed on equities in Europe. The S&P 500 marked a session low near the 1,835 level during the first hour, but spiked more than 20 points following comments from St. Louis Fed President James Bullard. Mr. Bullard appeared on Bloomberg TV and said the Fed should consider delaying the end of its Quantitative Easing program, which is set to wind down at the October FOMC meeting.

The market jumped from lows in reaction to the comments, but it is worth noting that Mr. Bullard is not a voting FOMC member this year and only an alternate voter on next year's schedule. The non-voter status did not get in the way of a surge in equities while Minneapolis Fed President (and FOMC voter) Kocherlakota provided a similar view, saying there is more the Fed can do to achieve maximum employment.

The intraday rebound was paced by some of the groups that faced the most aggressive selling in recent days. The energy sector (+1.7%) led the way, trimming its October loss to 9.0%. Crude oil also rallied, climbing 1.0% to $82.61/bbl after recovering from its overnight low near $79.91/bbl. Meanwhile, the other commodity-linked group—materials (+1.0%)—followed not far behind.

Elsewhere, the industrial sector (+0.7%) advanced with help from transport stocks. Delta Air Lines (DAL 33.32, +0.94) jumped 2.9% after beating earnings estimates while the Dow Jones Transportation Average (+1.1%) extended this week's gain to 1.7%.

The three growth-sensitive sectors spent the entire afternoon in the green while other cyclical groups were a bit more reluctant in joining the rebound. Financials settled in-line with the S&P 500, but the sector was weighed down by Goldman Sachs (GS 172.58, -4.66), which fell 2.6% despite reporting better than expected earnings.

Also of note, the discretionary space (+0.2%) was underpinned by major apparel names like Nike (NKE 87.04, +1.86) and V F Corp (VFC 63.98, +1.18) with their strength masking a 19.4% plunge in the shares of Netflix (NFLX 361.70, -86.89). The video streaming service surpassed its earnings estimates, but guided Q4 results below consensus and said its recent price hike has resulted in slower user growth.

On the downside, the technology sector lost 0.6% even as chipmakers rallied broadly, sending the PHLX Semiconductor Index higher by 1.5%. Large cap listings kept the sector in the red with Apple (AAPL 96.26, -1.28) falling 1.3% after refreshing its product lineup during an afternoon press event. Similarly, Google (GOOGL 536.53, -4.20) lost 0.8% ahead of its quarterly report.

Treasuries ended on their lows after a steady slide from early morning highs. The 10-yr yield ticked up two basis points to 2.16%, which represented an 18-bps spike from the low.

Strong participation continued with more than a billion shares changing hands at the NYSE floor.

Economic data included Initial Claims, Industrial Production, Philadelphia Fed Survey, and the NAHB Housing Market Index:
  • The weekly initial claims level fell to 264,000 from an unrevised 287,000, while the consensus expected an increase to 290,000 
    • The Department of Labor said there were no special factors influencing the report 
  • Industrial production increased 1.0% in September after falling a downwardly revised 0.2% (from -0.1%) while the consensus expected an increase of 0.4% 
    • Manufacturing production did a full 180 degree turnaround. After falling 0.5% in August, production rose 0.5% in September. That gain was in-line with the improvements in the Federal Reserve regional manufacturing surveys and the national ISM production index 
  • The Philadelphia Fed's Business Outlook Survey Dipped to 20.7 in October from 22.5, while the consensus expected a decline to 19.8 
    • Production levels softened as the Shipments Index fell to 16.6 from 21.6 in September 
    • Employment conditions worsened with the Number of Employees Index falling to 12.1 from 21.2 
  • The NAHB Housing Market Index for October fell to 54 from 59, while the consensus expected the reading to hold at 59 
Tomorrow, September Housing Starts (consensus 1013K) and Building Permits (consensus 1030K) will be released at 8:30 ET while the preliminary reading of the Michigan Sentiment survey for October (expected 84.0) will cross the wires at 9:55 ET.
  • Nasdaq Composite +1.0% YTD 
  • S&P 500 +0.8% YTD 
  • Dow Jones Industrial Average -2.8% YTD 
  • Russell 2000 -6.8% YTD

(BN) SunEdison in Talks for $2 Billion Polysilicon Plant in China


BFW 10/16 19:57 *SUNEDISON IN TALKS FOR $2 BILLION POLYSILICON PLANT IN CHINA
SunEdison in Talks for $2 Billion Polysilicon Plant in China
2014-10-16 19:55:02.467 GMT


By Bloomberg News
Oct. 17 (Bloomberg) -- SunEdison Inc., the best-performing
U.S. solar company this year, is in talks with a Chinese company
about investing as much as $2 billion to build a polysilicon
factory in China.
The plant will have “the lowest cost” in the industry if
it’s in China, SunEdison President Ahmad Chatila said yesterday
in an interview in Beijing. The cash cost for making the
commodity used in solar panels will be less than $6 a kilogram,
about $2 below the next lowest competitor, he said.
The decision is the latest sign of recovery in the solar
industry after a capacity glut depressed prices and margins for
manufacturers worldwide. GCL-Poly Energy Holdings Ltd. of China
and Wacker Chemie AG in Germany, two of the biggest makers of
polysilicon, are expanding production of the commodity that
sells for $20.96 a kilogram.
The plant will have a capacity of about 20,000 to 30,000
metric tons a year with ultra-fluid-bed-reactor technology,
Chatila said. SunEdison, based in St. Peters, Missouri,
currently has polysilicon capacity of 17,000 tons and is also
considering a plant in Saudi Arabia, Chatila said.
The company also signed an agreement yesterday with JIC
Capital, the fund management unit of China Jianyin Investment
Ltd., to set up a new energy fund with a total investment of
$220 million. The fund will invest to build about 1 gigawatt of
solar power plants in China over three years.
“Initially, we’ll start utility-scale,” and projects may
include rooftop solar projects in the future, Chatila said.

More Than Manufacturing

SunEdison intends to broaden itself beyond manufacturing
into building and operating power plants, Chatila said.
SunEdison, he said, will “bring a great reputation for a great
project that makes money for investors all the time” and “use
the most advanced technique to reduce costs more than any other
people.”
“China will build the most power infrastructure in the
next 20 years,” Chatila said. “What’s limiting companies like
us in getting into China is getting project financing, and now
that’s available.”
Last month, the company filed forms that may allow it to
establish a yieldco alongside its existing TerraForm Power Inc.
That entity would pay dividends from revenue coming from
operating power plants.
The move would offer SunEdison exposure to assets in Asia
and Africa for the first time, adding to yieldcos now operating
in the U.S. and Europe.
In June, the company said it will jointly develop 1.7
gigawatts of solar power projects in China with Chinese solar
wafer manufacturer Huantai Group over the next five years.
Construction may not start this year, Chatila said.


For Related News and Information:
SunEdison news: SUNE <Equity> CN BN <GO>
Most-read alternative energy stories: MNI ALTNRG <GO>
For top news on renewable energy: TOP ENV <GO>
New Energy Finance news and analysis: BNEF <GO>

To contact Bloomberg News staff for this story:
Feifei Shen in Beijing at +86-10-6649-7528 or
fshen11@bloomberg.net
To contact the editors responsible for this story:
Reed Landberg at +44-20-7330-7862 or
landberg@bloomberg.net
Alex Devine