SunEdison, world’s largest renewable energy firm, files for bankruptcy

SunEdison, a pioneering manufacturer of silicon wafers and the world's leading renewable energy developer, filed for Chapter 11 bankruptcy protection today.

The move was not unexpected, as SunEdison incurred about $12 billion in debt after going on an acquisition binge over the past two years. Those acquisitions "drove its debt to unmanageable levels and sent investors running for the exits," said Jenny Chase, head of solar research at Bloomberg New Energy Finance.

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