NEW YORK (TheStreet) --SunEdison Inc. (SUNE) announced today that it has entered into an agreement with the Chinese solar photovoltaic company Huantai Group to develop solar projects, and supply materials, technology, and services in the Chinese market.
SunEdison said that both companies expect to build 1.7 gigawatts of solar projects in China over the next five years.
The agreement states SunEdison will produce polysilicon for Huantai to make high-quality solar wafers, which both companies will use for their five year solar project plan.
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Shares of SunEdison are down -0.92% to $19.40 on Tuesday.
Separately, TheStreet Ratings team rates SUNEDISON INC as a Sell with a ratings score of D. TheStreet Ratings Team has this to say about their recommendation:
"We rate SUNEDISON INC (SUNE) a SELL. This is driven by some concerns, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its deteriorating net income, poor profit margins, weak operating cash flow and feeble growth in its earnings per share."