SolarCity pulls-in another US$305 million in new funding

Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn
Share on reddit
Reddit
Share on email
Email
Leading US residential solar PV installer SolarCity said it had raised US$305 million in its second cash equity transaction, this time through a private investment fund affiliated with Quantum Strategic Partners Ltd.

Leading US residential solar PV installer SolarCity said it had raised US$305 million in its second cash equity transaction, this time through a private investment fund affiliated with Quantum Strategic Partners Ltd.

The company noted that the equity investment covers a portfolio of projects in the range of 230MW of solar generation capacity spread across 15 states with the majority of the installations completed in 2015 and 2016.

SolarCity said it was able to achieve a pre-tax, weighted average cost of capital for the transaction of 7.4%. The syndication of a long-dated, fully-amortizing loan is believed to represent a “first of its kind” for distributed solar assets, according to SolarCity.

Read Next

October 26, 2021
A Delaware judge has dismissed direct claims against Tesla CEO Elon Musk over his part in the US$2.6 billion acquisition of residential solar installer SolarCity
July 12, 2021
Elon Musk and Tesla’s court case regarding its acquisition of solar installer SolarCity has got underway in the US this week, with shareholders of the energy and automotive company alleging that fiduciary duties were breached when the deal was agreed.
August 18, 2020
A judge has approved a US$60 million settlement for Tesla shareholders who challenged the company’s acquisition of installer SolarCity.
March 20, 2020
Silicon Valley firm opts to close down facilities in California and New York following criticisms over staff exposure to pandemic, particularly at Fremont car-making facility.
March 16, 2020
Growing pandemic prompts Delaware Court of Chancery to postpone proceedings this week, meant to delve into allegations that shareholders were misled over SolarCity buy in 2016.
October 1, 2019
Federal ruling censoring 2018 Elon Musk tweet and other actions comes as Tesla faces Walmart lawsuit over rooftop blazes linked by retailer to solar installs.

Subscribe to Newsletter

Upcoming Events

Upcoming Webinars
January 26, 2022
Free Webinar
Solar Media Events
February 23, 2022
London, UK
Solar Media Events
March 8, 2022
London, UK
Solar Media Events
March 23, 2022
Austin, Texas, USA
Solar Media Events
March 29, 2022
Lisbon, Portugal