SEC filings show that Musk personally purchased US$65 million worth, while CEO Lyndon Rive and CTO Peter Rive purchased US$17.5 million worth each. The US$124 million solar bond issue was launched on the 17 August. The company also announced that the Rive's would waive their salaries as a round of job cuts approached.

Musk has previously purchased SolarCity bonds via his SpaceX company.

The move further entwines Musk, already SolarCity’s largest shareholder, with SolarCity ahead of a proposed all-stock acquisition by Tesla.

elon musk, investment, solar bonds, solarcity, tesla, us, usa

Tesla’s 2021 solar installs reach four-year high of 345MW

January 27, 2022

Tesla’s solar installations jumped 68% in 2021 to 345MW despite a slight dip in additions year-on-year during the fourth quarter.

ADT Solar aiming to become ‘biggest residential solar installer in the US’ as it evolves into smart home company

January 26, 2022

Home security giant ADT is evolving from a security company to a smart home company, with around 80% of its revenue coming from its smart home business, said its president and CEO Jim DeVries

JinkoSolar shares surge on STAR Market debut

January 26, 2022

Shares in ‘Solar Module Super League’ (SMSL) member JinkoSolar’s operating subsidiary surged on the company’s Shanghai stock market debut, closing at more than double their listing price.

US renewables firms claim US$2bn lost each month amidst Build Back Better deadlock

January 24, 2022

More than 260 companies in the US clean energy sector are demanding urgent action on the US$1.75 trillion Build Back Better (BBB) Act, claiming that US$2 billion is being lost in economic activity every month the long-awaited bill is delayed.

Daqo Xinjiang subsidiary forecasting five-fold profit jump as expansion plans progress

January 24, 2022

Polysilicon producer Daqo New Energy is expecting a five-fold increase in net profit from its Xinjiang subsidiary as it continues to progress expansion plans.

Solar forecasting errors in the US lower than previously thought, says Berkeley Lab study

January 24, 2022

The average cost of forecasting errors in the US is lower than previously thought at less than US$1/MWh, according to a study by Berkeley Lab that employed a new, publicly available method to examine the practice.

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Musk and the Rives buy US$100 million of SolarCity bonds

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US renewables firms claim US$2bn lost each month amidst Build Back Better deadlock

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