SUBSCRIBE
PROFILE

TerraForm Power settles $34.5mn lawsuit with former executive after nine-year litigation

TerraForm Power reached a $34.5mn court settlement with its former chairman Carlos Domenech, nine years after his dismissal, ending a case tied to SunEdison's financial management.

Share:

Subscribe for unlimited access to all the latest energy sector news.

Over 150 multisector articles and analyses every week.

For less than €2/week*

*For an annual commitment

*Engagement annuel à seulement 99 € (au lieu de 149 €), offre valable jusqu'au 30/07/2025 minuit.

SUBSCRIBE

US-based TerraForm Power, controlled by Brookfield Renewable Partners L.P., announced the resolution of a legal dispute filed by its former President and Chief Executive Officer Carlos Domenech. The dispute, linked to the financial management of parent company SunEdison, culminated in a nine-year legal process settled through a $34.5mn agreement (approximately €31.8mn). The United States District Court for the District of Maryland had found the company liable following a trial held during the summer of 2024.

Carlos Domenech, former President and CEO of TerraForm Power, Inc. and TerraForm Global, Inc., and Executive Vice President of SunEdison, was dismissed without formal cause on November 20, 2015, by the boards of directors of the respective companies. Shortly thereafter, Brookfield Renewable Partners L.P. and its institutional partners took control of both firms in the wake of SunEdison’s bankruptcy, declared on April 21, 2016.

A dispute centred on disputed financial practices

In his complaint filed on January 20, 2025, with the Maryland federal court (reference 8:18-cv-02523-PX), Mr Domenech claimed he was terminated for reporting false liquidity disclosures made by SunEdison executives. He also alleged misleading financial forecasts and other financial misconduct by the parent company targeted at investors.

The trial took place in July and August 2024 before Federal Judge Paula Xinis, who ruled in favour of Mr Domenech on the matter of liability. While the settlement does not imply formal admission of guilt, it brings all related civil proceedings to a close.

Consequences and post-bankruptcy context

The case is part of a broader set of legal consequences following SunEdison’s collapse. Once a major actor in the renewable energy sector, the group had expanded rapidly, partly through affiliated companies such as TerraForm Power and TerraForm Global, before collapsing under accumulated debt.

The announced settlement is not expected to affect the current operations of TerraForm Power, now fully owned by Brookfield, whose business focuses on global energy infrastructure. No further legal actions directly related to the events described are ongoing at this time, according to published documents.

  • Popular on energynews.pro
Adapture Renewables launches its first storage projects with 74 MWh in Texas
RWE secures four maintenance vessels to support its offshore wind fleet in Europe
Rubellite Energy Corp. records an 81% increase in cash flow in Q2 2025
Suncor Energy posts net profit of $1.13 bn in the second quarter of 2025
Flamanville: the EPR power-up postponed until the end of autumn 2025
GFL Environmental finalises $4.25bn deal to recapitalize Green Infrastructure Partners
GFL Environmental announces the recapitalization of Green Infrastructure Partners at an enterprise value of $4.25bn, involving new institutional investors and a major redistribution of capital to its shareholders.
Uniper tightens annual guidance and adjusts its energy transformation strategy
Uniper reaffirms its targets for the year, narrows its forecast range, and strengthens its transformation strategy while launching cost-cutting measures in a demanding market environment.
Yanara gains independence to accelerate renewable project expansion in Asia-Pacific
BrightNight’s Asian subsidiary becomes Yanara and positions itself as an independent player to strengthen the development of large-scale renewable energy solutions in the Asia-Pacific region.
Brookfield invests $6 billion in Duke Energy Florida
Brookfield acquires 19.7% of Duke Energy Florida for $6 billion, strengthening the group's investment capacity and supporting a five-year modernisation plan valued at $87 billion.
ADNOC Gas achieves record profit and accelerates its investment strategy in 2025
With a net profit of $1.385bn in the second quarter of 2025 and a sharp rise in capex, ADNOC Gas consolidates its position in the global natural gas market.
Siemens Energy sets order record and raises 2025 annual outlook
Siemens Energy posts historic third-quarter orders, significant revenue growth and lifts its dividend ban, reinforcing its backlog strength and ambitions for profitable growth in 2025.
Chinese manufacturers accelerate global expansion, Wood Mackenzie reports, to overcome trade barriers
The proliferation of Chinese industrial sites abroad, analysed by Wood Mackenzie, allows renewable energy players to expand their hold on the sector despite intensified global protectionist measures.
Pedro Cherry takes the helm at Mississippi Power during the company’s centennial year
Pedro Cherry becomes chief executive officer of Mississippi Power, succeeding Anthony Wilson, as the company navigates regional growth and significant challenges in the energy sector of the southern United States.
METLEN Energy & Metals enters London Stock Exchange after successful share offer
METLEN Energy & Metals makes its debut on the London Stock Exchange after a share exchange offer accepted by more than 90% of shareholders, opening a new phase of international growth.
Q ENERGY secures EUR109mn to finance four renewable projects in France
Q ENERGY France secures a EUR109mn loan from BPCE Energeco for the construction of two wind farms and two solar power plants with a combined capacity of 55 MW.
Enbridge deploys $2 billion in solar and natural gas to fuel industrial growth
The Canadian energy infrastructure giant launches major projects totaling $2 billion to meet explosive demand from data centers and North American industrial sector.
Chevron cuts quarterly profit despite strategic Hess integration
Chevron’s net profit dropped sharply in the second quarter, affected by falling hydrocarbon prices and exceptional items, as the group completed its acquisition of Hess Corporation.
ExxonMobil maintains shareholder returns despite a drop in quarterly net profit
ExxonMobil reports a decrease in net profit to $7.08bn in the second quarter but continues its policy of high shareholder returns and advances its cost reduction objectives.
Sitka Power takes full control of Synex Renewable Energy for $8.82 mn
Sitka Power Inc. completes the acquisition of Synex Renewable Energy Corporation for $8.82 mn, consolidating its hydroelectric assets and strengthening its growth strategy in Canada.
DLA Piper advises Grupo Cox on a transaction involving Iberdrola Mexico assets at $4.2 billion
DLA Piper assists Grupo Cox in a planned transfer of Iberdrola assets in Mexico, with a reported value of $4.2 billion, mobilising an international legal team.
Enel posts 11% drop in half-year profit despite rising revenue
Italian group Enel reports net profit of €3.4bn for the first half, down from last year, while revenue rises to €40.8bn amid market volatility.
Atlantica acquires Statkraft’s Canadian platform with 236 MW in operation and a 0.81 GW pipeline
Atlantica Sustainable Infrastructure takes over Statkraft’s Canadian platform, including all operational and development-stage wind, solar, and storage assets in Canada.
Engie stabilises its 2025 targets despite price declines and global uncertainty
Energy group Engie confirms its financial outlook for 2025 despite what it describes as an uncertain international context and lower prices that weighed on its results in the first half.
Encavis acquires 199 MW wind and solar portfolio from BayWa r.e. in Spain
Encavis AG announces the acquisition of a 199 MW portfolio consisting of three wind farms and two photovoltaic plants in Aragon, marking a key step in the group's technological diversification in Spain.
TC Energy raises annual outlook after strong second quarter 2025
TC Energy reports higher financial results in the second quarter of 2025, boosts investments and anticipates a rise in annual EBITDA driven by growing natural gas demand in North America.