Terraform Power Inc. on Monday reported a net loss of $208 million for 2015, the renewable power plant owner's first financial report in more than a year as it seeks to disentangle itself from its bankrupt parent, SunEdison Inc.

The company, a spinoff SunEdison formed to buy some of its power plants, said in a regulatory filing it is in the process of putting itself up for sale and has asked bidders to provide firm pricing by early January 2017, with binding bids shortly thereafter.

The Terraform board will then make a decision and recommend one of the bids for approval by shareholders.

It disclosed a full-year net loss of $208 million for 2015, on revenue of $470 million. Net loss attributed to common shareholders was $80 million, or $1.25 a share. The company had about $627 million of cash as of Dec. 31, 2015.

Before Monday, the company hadn't reported financial results since Nov. 9, 2015.

For 2016, Terraform has projected a net loss of between $105 and $145 million, on adjusted revenue of between $697 million and $712 million.

"We are pleased to take this important step toward regaining regulatory compliance," Peter Blackmore, TerraForm's chairman and interim chief executive, said in a statement.

The Bethesda, Md.-based company declined to comment beyond statements it made in its 10-K filing and a press release, according to a spokesman.

Terraform said in the filing it has had trouble accessing debt and equity markets since SunEdison filed for bankruptcy last April. It operates nearly 3,000 megawatts of wind and solar power generators in the U.S., Canada, the U.K. and Chile.

Terraform said it still relies on SunEdison for operational, systems and staffing support, among other things.

SunEdison's bankruptcy has caused it some problems, including a credit agreement on which Terraform defaulted for one of its renewable energy projects. The company didn't disclose the value of that agreement. Terraform has signed consent decrees with its bondholders to avoid defaulting on its outstanding debt.

SunEdison's bankruptcy also led to the loss of $11.3 million for Terraform in cancellations for residential solar projects.

Shares of Terraform were trading Monday about 2% higher at $12.66.

Brookfield Asset Management and Appaloosa Management offered last month to buy Terraform for $13 a share, or about $1.8 billion.

Terraform hasn't commented on the offer.

Write to Cassandra Sweet at cassandra.sweet@wsj.com

(END) Dow Jones Newswires

December 05, 2016 14:25 ET (19:25 GMT)

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