SolarCity and Direct Energy create US$124 million solar investment fund (PV-Tech)
Commercial and industrial customers of US energy and energy services retailer Direct Energy will soon be able to utilise solar power at ‘little or no upfront cost’, following an agreement the company has signed with PV energy services provider SolarCity Corp (NASDAQ:SCTY). The two companies have created a direct investment fund capable of financing up to US$124 million in solar projects, including US$50 million from Direct Energy.
First Solar, Inc. (FSLR) Bulls Take Diverging Paths (SchaeffersResearch)
First Solar, Inc. (NASDAQ:FSLR) has been flexing its technical muscle for some time now, with the shares up nearly 82% year-over-year. A recent consolidation attempt brought the stock face-to-face with its 200-day moving average, but FSLR found a foothold atop this psychologically significant trendline. In First Solar, Inc. (NASDAQ:FSLR)’s options pits, speculators have been taking notice of this impressive showing on the charts.
Solar Stocks Business Moving Up – First Solar, Trina Solar, LDK, Suntech, SunPower, SolarCity,Yingli Green Energy, JASO (PRCarbon)
Solar companies are making their way in the solar market while others are at the verge of extinct… On the other hand, the other notable solar companies like SunPower Corporation (NASDAQ:SPWR), JinkoSolar Holding Co., Ltd. (NYSE:JKS) and Trina Solar Limited (ADR) (NYSE:TSL) reported a vast improvement in earnings and generating revenues during the second quarter.
SolarCity Completes Acquisition Of Paramount Solar (SolarIndustryMag)
SolarCity Corp (NASDAQ:SCTY), a full-service solar power provider, has completed the acquisition of the assets of Paramount Energy Solutions LLC (dba Paramount Solar), a subsidiary of Paramount Equity, for a total consideration of $120 million, including 3,674,565 shares of SolarCity common stock priced at $31.65 per share and $3.7 million in cash. Former Paramount Equity CEO Hayes Barnard has joined SolarCity as chief revenue officer in charge of the company’s sales and marketing organizations.
First Solar, Belectric form J.V. for solar power projects in Europe, North Africa and the U.S. (EcoSeed)
A new joint venture formed by First Solar, Inc. (NASDAQ:FSLR) and Belectric Holding, GmbH will be developing photovoltaic power projects in three continents – Europe, North Africa and North America. The J.V., to be called PV Projects GmbH & Co. KG, will be based in Germany and will be tasked with developing PV projects independently acquired or developed by either of its two parent companies. Under the terms of the J.V., First Solar will supply its advanced thin-film modules and selected components such as the first Solar Tracker and value added services to the projects to be developed.
Why SolarCity’s Shares Popped (DailyFinance)
What: Shares of solar installer SolarCity Corp (NASDAQ:SCTY) are up 17% today after announcing another financing deal. So what: Direct Energy and SolarCity have created a dedicated investment fund that will offer up to $124 million to build solar projects. Direct Energy will contribute up to $50 million to the fund, which will service commercial and industrial customers. Now what: To put this move into perspective, SolarCity’s market cap is up about $400 million after announcing $124 million in financing. The fund is really business as usual for SolarCity Corp (NASDAQ:SCTY), who didn’t raise guidance so there won’t be an impact to operations this year.