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.
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.
SolarCity Corp (SCTY) introduced its first residential solar loan program yesterday, to compete with growing competition. The solar loan introduced by SolarCity is called MyPower. The company foresees that half of its customers will opt for the loan, instead of entering lease agreements or power purchase agreements (PPAs).
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.
By Equity Flux:SolarCity Corp. (SCTY) operates in the industry of specialized semiconductors and is primarily involved in the provision of clean energy, i.e. solar energy. The company was established in 2006 and is based in San Mateo, California. SolarCity provides its solar systems to home owners, businesses and industrial clients.
Solar stocks declined sharply yesterday, with major stocks like First Solar Inc. (FSLR) and SolarCity Corp. (SCTY) closing down 4.9% and 5.5% respectively during regular trading hours. Stock prices of Chinese solar companies like Yingli Green Energy Hold. Co. Ltd. (YGE) and JinkoSolar Holding Co., Ltd.
The fuel-cell manufacturers that have been Nasdaq’s three-biggest gainers in the past month continued gains Tuesday after executives predicted profitability as early as this year.
Canadian company Ballard Power Systems Inc. share were indicated as much as 15% higher in pre-market trading in New York Tuesday after a 30% gain Monday. Plug may rise 12% and FuelCell Energy Inc. by 22%, based on pre-market indications.
SolarCity Corp. (SCTY) has made a move toward becoming a manufacturer of solar panels as the company signed a definitive agreement to acquire Silevo Inc. The acquisition cost the company a total of $200 million, and it has agreed to pay an additional $150 million contingent on certain conditions being met by Silevo.