The World's #1 Renewable Energy Network for News, Information, and Companies.

SolarCity Cuts Proposed IPO Pricing, Increases Size of Placement

SolarCity Cuts Proposed IPO Pricing, Increases Size of Placement

SolarCity Corp., the solar power provider led by billionaire Elon Musk, cut the proposed pricing of its initial public offering while increasing the number of shares offered.

The San Mateo, California-based company sees a price of $8 each after increasing the size of the offering to 11.4 million shares from 10.1 million, according to a regulatory filing. The IPO had been scheduled to price yesterday in a range of $13 to $15 apiece.

Buyers in SolarCity’s IPO commanded a discount even as the company is poised for growth after completing the most equipment installations in California, the U.S.’s biggest solar-power market. The offering is contending with a market that has pummeled public solar stocks and a pending U.S. government inquiry into its accounting practices that may raise costs.

SolarCity, which booked a $95 million net loss in the 12 months through September, is one of a handful of companies that lease solar panels to customers, install them on their property, and charge them below-market rates for the electricity they generate.

Copyright 2012 Bloomberg

Lead image: Solar installation via Shutterstock

RELATED ARTICLES

India's Seabiscuit: How Solar Energy Can Be the Symbol of Hope for Electricity Woes

Aditya Goel, Ornate Solar For those unfamiliar with the story of the horse that Hollywood made famous, Seabiscuit was a small horse who had an inauspicious start to his racing career. History though, remembers Seabiscuit not for his diminutive...
Tesla batteries

Advanced Microgrid to Buy Tesla Batteries for Storage Projects

Justin Doom, Bloomberg Advanced Microgrid Solutions, a provider of energy-storage systems, agreed to buy as much as 500 megawatt-hours of battery capacity from Tesla Motors Inc.
Gavel

Three Chinese Solar Panel Groups Lose Exemption From EU Tariffs

Jonathan Stearns, Bloomberg

The European Union applied tariffs on three groups of Chinese solar-panel makers that have been exempted from the levies, potentially reviving tensions in the EU’s biggest trade case of its kind.

Stock graph

Green Bonds Sprout as Wall Street Embraces Renewable Energy Debt

Cordell Eddings, Bloomberg Bonds backing clean energy and other sustainable initiatives are booming. Investors are snapping up green bonds at the fastest pace on record, as big banks like Morgan Stanley and Bank of America Corp. pile in with new iss...

CURRENT MAGAZINE ISSUE

Volume 18, Issue 3
1505REW_C11

STAY CONNECTED

To register for our free
e-Newsletters, subscribe today:

FEATURED PARTNERS



EVENTS

PV-201: Introduction to PV Design & Installation

PV 201 Introduction to PV Design & Installation is simply the best i...

PV-301: Advanced PV Design & Installation

This highly desirable and advanced course is intended for the profession...

PV-401: Advanced Field Training

Real world on the job solar installation, training, and experience is th...

COMPANY BLOGS

Five Reasons to Go Solar Now

Solar’s popularity has skyrocketed recently, thanks to a price dro...

How to Reduce Soft Costs With a Critical Path Map

For solar installers, soft costs are a fact of life. However, they don&r...

Building Rapport

How do you build rapport with your prospect? This is a question that I a...

SOCIAL ACTIVITY

Tweet the Editors! @megcichon @jennrunyon

NEWSLETTERS

Renewable Energy: Subscribe Now

Solar Energy: Subscribe Now

Wind Energy: Subscribe Now

Geothermal Energy: Subscribe Now

Bioenergy: Subscribe Now  

 

FEATURED PARTNERS