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What: Shares of yieldco TerraForm Global Inc (NASDAQ:GLBL) jumped as much as 15.4% in trading Wednesday after getting news that the shares SunEdison owns in the company may be sold. At 3:05 p.m. EDT shares were still up 13.3% on the day.

So what: TerraForm Global's parent SunEdison is in bankruptcy and with no buyer for the company emerging it's been reported that assets will be sold off in pieces. One of the biggest assets is its stake in TerraForm Global and it could be sold to an investor who would help bolster the balance sheet and return the company to more stable operations.  

The company itself said it was working with SunEdison on a sale process, but didn't elaborate further. But it did say that cash available for distribution was in the range of $42 million to $48 million in the first quarter and cash balance was $769 million to end the second quarter. That's the most we've heard about the company's finances this year and gives some confidence that the company will make it out of its current financial mess.

Now what: While today's developments are good for TerraForm Global, there's a long way to go before the company is fully independent and running a stable business. We haven't gotten a full look at the company's balance sheet and we still have no idea what a buyout of SunEdison's stake might look like. For now, investors should see the interest from investors and the financial updates as slight positives. But we need to hear more before we know the company is set up for success. At least this is a small step in the right direction, bringing some rare positive news to the stock today.

Travis Hoium has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.