Blackstone Group LP (BX)-backed Vivint Solar, a provider of rooftop solar panels, would be raising $200 million by issuing an initial public offering (IPO) in the US. The underlying reason for issuing the IPO is to help the company raise production levels to cater to the growing demand and meet customer project orders. However, the company has not provided the valuation because it was too early to estimate the value. The ticker of the company would be VSLR.
The shares of Vivint Solar Holdings Inc commenced trading today on the New York Stock Exchange (NYSE) under the ticker “VSLR”. The company is the second largest residential solar installer in the US behind SolarCity Corp. (SCTY), which is backed by the charismatic CEO and founder of Tesla Inc. (TSLA) Elon Musk.
Will rooftop solar panels cause the downfall of electric utilities?Some commentators have likened the disruptive potential of rooftop solar developer SolarCity Corp (NSDQ: SCTY) to Amazon.com (NSDQ: AMZN), arguing that a new era of distributed energy is on the verge of displacing power companies the way that Amazon.com has won market share from brick-and-mortar retailers.
NEW DELHI: Rooftop projects will help the Centre realise its ambitious target of adding 100 gigawatts (GW) of solar power by 2022 even as the green energy has its own challenges, say industry experts. Solar power producers are of the view that the concept of rooftop solar solutions for households is a step in the right direction but will yield results only in due course of time. "Rooftop solar makes sense on paper for many customers, yet it is still slow to take off.
Backed by the Blackstone Group L.P. (BX), Vivint Solar plans to issue 20.6 million shares priced from $16 to $18, valuing the company at nearly $1.9 billion at the top end of the price range. This will help the company raise a maximum of $370.8 million in its initial public offering (IPO). The company intends to trade its shares under the ticker VSLR on the New York Stock Exchange (NYSE).
MUMBAI: Easy credit availability and increased consumer awareness would help the government in achieving the target to add 40 GW solar rooftop capacity by 2022, Care Ratings has said. The government has announced a target of 100 GW of solar energy generation capacity by 2022, of which 40 GW is expected to be achieved through decentralised and rooftop scale solar projects.
NEW DELHI: India could become one of the largest solar markets in the world in the next three years, but potential problems with financing, transmission and land acquisition could trip up the government's solar plan, according to consulting and research firm Bridge to India. In November, Prime Minister Narendra Modi set a target of 100 GW of solar generation capacity by 2022, a nearly 33-fold increase from the current capacity. This would include 60 GW of utility scale projects and 40 GW of rooftop and other small grid-connected projects.
Solar installation startup SolarCity this afternoon filed with the SEC for a $201.25 million initial public offering. Goldman Sachs is leading the underwriting group, which also includes Credit Suisse, Bank of America/Merrill Lynch, Needham and Roth Capital. The company plans to trade on the NASDAQ using the symbol SCTY. For the six [...]