Lazard, the financial advisory that advised SolarCity on its US$2.6 billion all-stock sale to Tesla, made an error in its analysis resulting in the solar installer being undervalued by US$400 million, according to a regulatory filing with the Securities and Exchange Commission (SEC).
On Monday, a ruling by Nevada Public Utilities Commission (PUC) chairman and presiding officer Paul A Thomsen barred SolarCity from intervening in upcoming proceedings concerning the grandfathering of more than 20,000 rooftop solar customers.
Not-for-profit GivePower Foundation, created by US firm SolarCity, has installed the Democratic Republic of Congo’s (DRC) first minigrid using solar and battery storage at Virunga National Park.
Balfour Beatty Communities — a managing member of military housing projects located at Fort Detrick, Maryland, and Fort Carson, Colorado — and SolarCity have finished the installation of over 18,000 PV panels at Army family housing.
PV inverter firm SolarEdge Technologies reported fiscal fourth quarter revenue of US$124.8 million, which was at the low end of guidance, due to a slowdown in the US residential market, its biggest market for the company.
Tesla will make its own inverters for use with SolarCity PV installs and its own energy storage products, according to its chairman and CEO, Elon Musk.
Tesla Motors' possible acquisition of leading US residential PV installer SolarCity has been sealed with an all-stock transaction valued at around US$2.6 billion.
