In light of its diminishing coffers, the company has stated that there were “no assurances” it would raise the $6.5 billion to $8.8 billion needed to fund the construction of renewable energy assets through 2016.
Moreover, the company said it would reduce sales of renewable energy assets to its so-called yieldcos until conditions improve.
The photovoltaic panel maker was the first solar company to launch a yieldco in July last year – a yieldco is a dividend growth-oriented company that groups renewable or conventional long-term contracted operating assets to generate steady cash flows for investors. However, the strategy has grown less attractive in light of the continued cheap crude oil environment.
Guggenheim Solar ETF
For more information on the photovoltaic panel industry, visit our solar category.
Max Chen contributed to this article.