SolarCity and Direct Energy Form $124M Fund for Commercial and Industrial Solar (GreenTechMedia)
In an era where utilities and the solar industry are locked in an adversarial stance on net energy metering and the true value of distributed generation and PV — here’s SolarCity and and an electricity provider playing nice. SolarCity Corp (NASDAQ:SCTY) and energy services provider, Direct Energy (a subsidiary of Centrica), have created an investment fund to finance $124 million in commercial and industrial (C&I) solar projects. The fund includes $50 million from Direct Energy, one of the largest retail electricity providers in the U.S. It’s Direct Energy’s first solar deal, according to its blog.
First Solar Strengthens Partnership with Belectric, Announces Joint Venture (BusinessWeek)
First Solar, Inc. (NASDAQ:FSLR) and BELECTRIC Holding, GmbH today announced the launch of a Joint Venture (JV) that will realize solar energy projects on three continents. The JV – PV Projects GmbH & Co. KG – is based in Germany and will be tasked with developing selected photovoltaic (PV) power projects independently acquired or developed by either of the two companies in Europe, North Africa, as well as projects of fewer than 20 megawatts (MW), in the United States. Under the terms of the JV – which is subject to approval from the relevant governmental merger control authorities – First Solar will supply its advanced thin-film modules, selected components such as the First Solar Tracker.
SunPower Corp. SVP Eric Branderiz Sells 4,162 Shares (SPWR) (Zolmax)
SunPower Corp. (NASDAQ:SPWR) SVP Eric Branderiz sold 4,162 shares of SunPower Corp. stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $22.40, for a total value of $93,228.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. A number of research firms have recently commented on SPWR. Analysts at Goldman Sachs Group, Inc. (NYSE:GS) reiterated a “neutral” rating on shares of SunPower Corp. (NASDAQ:SPWR) in a research note to investors on Thursday, August 1st.
How Utilities Use Solar Energy To Woo Customers (Forbes)
SolarCity Corp (NASDAQ:SCTY) said Tuesday it has teamed up with Direct Energy to offer solar power to the utility’s business customers, a move that provides yet another example of a growing interest by utilities to make money from rooftop solar projects. SolarCity and Direct Energy have set up a $124 million fund to finance rooftop solar panel installations for Direct Energy’s commercial and industrial customers. Direct Energy is forking over $50 million for the fund while SolarCity has secured debt financing for the remainder, said Jonathan Bass, a spokesman for SolarCity. He declined to say more about the structure of the debt financing.