SolarCity Unveils 2.8 Million Share Offering, $100 Million Note Offering (WSJ)
SolarCity Corp (NASDAQ:SCTY) unveiled an offering of 2.8 million of its shares and said its chairman and chief executive intend to buy up to 560,000 shares. Chairman Elon Musk, who currently holds a 26% stake in the Solar-panel installer according to FactSet, and CEO Lyndon R. Rive, who holds a 3.4% stake according to FactSet, will buy the shares at the public offering price. SolarCity recently had about 76.5 million shares outstanding. SolarCity Corp (NASDAQ:SCTY) also said it is offering $100 million in convertible notes. The company intends to use the proceeds from both offerings for general corporate purposes, including working capital, capital expenditures, potential acquisitions and strategic transactions.
First Solar Will Struggle as Solar Industry Changes (Fool)
First Solar, Inc. (NASDAQ:FSLR) was once a clear leader in the solar industry but the company has seen margins and profits fall recently as more efficient competitors caught up. Utility scale project that drive the company’s revenue just aren’t coming along as frequently as they used to as seen by backlog falling from 2.6 GW to 2.2 GW between the first of the year and early August. But that’s not all to be concerned about as solar analyst Travis Hoium covers in the video below.
Volatile Stocks to Watch – First Solar, Inc., SunPower Corporation, Canadian Solar Inc, Yingli Green Energy Hold. Co. Ltd. (ADR), Trina Solar Limited (ADR) (CrazyJoys)
First Solar, Inc. (NASDAQ:FSLR), one of the leading global providers of comprehensive photovoltaic (PV) solar systems announced its agreement with an investment partnership led by General Electric Company (NYSE:GE) Energy Financial Services to sell its solar projects in Ontario, Canada. …SunPower Corporation (NASDAQ:SPWR), a leading solar technology and global energy solutions provider, introduced the SunPower Solar Loan for homeowners in Australia. Affordable payment options are designed to help customers finance a high efficiency, residential SunPower Corporation (NASDAQ:SPWR) solar system over time, as it simultaneously produces electricity from rooftops. In many cases, a system sized to closely match the homeowner’s energy needs is expected to generate savings in excess of monthly loan payments.
First Solar and GE partnership confirmed with sale of Canadian plants (CleanEnergyAuthority)
The sale of 50 megawatts worth of solar in Canada is just another indication that the marriage between First Solar, Inc. (NASDAQ:FSLR) and GE is going to make the one-time-rivals into a power couple to be reckoned with. First Solar announced the sale of a collection of Canadian solar projects totaling 50 megawatts to an investment partnership led by General Electric Company (NYSE:GE) on Monday. The deal is the first of what is expected to be many since the companies announced earlier this month that they would put an end to a recent rivalry, bury the hatchet and partner up.
First Solar appoints chief commercial officer (Semiconductor-Today)
First Solar, Inc. (NASDAQ:FSLR) of Tempe, AZ, USA, which makes thin-film photovoltaic modules based on cadmium telluride (CdTe) as well as providing engineering, procurement & construction (EPC) services, has named Joe Kishkill as chief commercial officer. Kishkill will have comprehensive leadership responsibility for Global Business Development, Sales and International Public Affairs, with a primary focus on sustainable growth in emerging markets. Reporting to Kishkill will be regional business development and global public affairs teams.