SolarCity CEO Lyndon Rive built on a bright idea (RenewablesBiz)
Lyndon Rive, 36, chief executive of SolarCity Corp., a company co-founded in 2006 with his older brother, Peter, that helped popularize a new direction in residential solar power development. The San Mateo, Calif., company installs solar panels for homes, businesses and government entities. But instead of selling the panels to the customer, SolarCity Corp (NASDAQ:SCTY) usually retains ownership of them and sells the electricity to the client. That cuts out much of the upfront cost involved with going solar. “The homeowner isn’t really required to do anything,” Rive said. “They get a smaller electric bill every month and they get the good feeling that comes from knowing that most of their home electricity is generated by clean energy from the sun.”
First Solar acquires 1.5GW PV portfolio in US and Mexico (NewNet)
Arizona-based solar cell and module manufacturer First Solar, Inc. (NASDAQ:FSLR) has acquired a portfolio of 1.5GW of solar generation capacity in the US and Mexico from Element Power. The portfolio includes a number of projects in various locations and at various stages of development. Locations include California, Arizona, Texas, Georgia, North Carolina, Colorado, Louisiana, and Illinois. A number of Mexican projects in the State of Sonora were also acquired as part of the portfolio.
India’s first green building uses SunPower solar planels (EE Times India)
Solar panel manufacturer SunPower Corporation (NASDAQ:SPWR) announced that Swadeshi Civil Infrastructure has completed the installation of a 930-kilowatt (kW) SunPower solar system on the rooftop of the Indira Paryavaran Bhavan building in New Delhi. It is India’s first net zero energy building. The design of the building emphasizes conservation featuring trees to reduce adverse environmental impact, adequate natural light and shaded landscaped areas to reduce ambient temperature. The building is targeted to achieve Platinum from the Leadership in Energy and Environmental Design green building rating system, known as LEED INDIA.
SolarCity Corp. Sees Unusually Large Options Volume (SCTY) (Ticker Report)
Shares of SolarCity Corp (NASDAQ:SCTY) was the recipient of some unusual options trading activity on Friday. Investors bought 9,374 put options on the company, American Banking and Market News reports. This represents an increase of approximately 117% compared to the average volume of 4,320 put options. A number of analysts have recently weighed in on SCTY shares. Analysts at Roth Capital raised their price target on shares of SolarCity Corp. from $30.00 to $42.00 in a research note to investors on Thursday, August 8th. They now have a “neutral” rating on the stock. Analysts at Maxim Group initiated coverage on shares of SolarCity Corp (NASDAQ:SCTY) in a research note to investors on Tuesday, July 9th.
SEC charges former officer with Regulation FD violation (Lexology)
Last week, the Securities and Exchange Commission (the “SEC”) charged the former vice president of investor relations for First Solar, Inc. (NASDAQ:FSLR) with violating Regulation FD and Section 13(a) of the Securities Exchange Act of 1934, as amended, by selectively disclosing material nonpublic information.1 Significantly, the SEC, citing the “extraordinary cooperation” of First Solar, decided not to bring an enforcement action against the company. This action, the first SEC Regulation FD enforcement action brought since November 2011, serves as a reminder to public companies and their executives of the SEC’s willingness to pursue what it views as Regulation FD violations and also highlights certain corrective actions that the SEC is likely to view favorably in the event of a Regulation FD violation.