Editor’s Note: Related tickers: SolarCity Corp (NASDAQ:SCTY), First Solar, Inc. (NASDAQ:FSLR), SunPower Corporation (NASDAQ:SPWR), Goldman Sachs Group, Inc. (NYSE:GS)
SolarCity acquires Paramount Solar (RenewableEnergyFocus)
Under the terms of the agreement, SolarCity Corp (NASDAQ:SCTY) will acquire the Paramount Solar business for US$116.3 million in stock, and the remainder in cash. Paramount Equity CEO Hayes Barnard will join SolarCity as chief revenue officer in charge of the company’s sales and marketing organizations upon closing of the acquisition. Paramount Solar, one of SolarCity Corp (NASDAQ:SCTY)’s most successful channel partners, is majority-owned by Guthy¦Renker, the company behind Proactiv Solution and one of the world’s leading direct marketing companies.
First Solar Rating Reiterated by TheStreet (FSLR) (DailyPolitical)
TheStreet reiterated their hold rating on shares of First Solar, Inc. (NASDAQ:FSLR) in a research note released on Monday morning, Stock Ratings Network reports. “First Solar (FSLR) has been reiterated by TheStreet Ratings as a hold with a ratings score of C. The company’s strengths can be seen in multiple areas, such as its solid stock price performance, largely solid financial position with reasonable debt levels by most measures and reasonable valuation levels. However, as a counter to these strengths, we also find weaknesses including unimpressive growth in net income, weak operating cash flow and feeble growth in the company’s earnings per share.,” TheStreet’s analyst commented.
SunPower Partners with Community First Credit Union to Offer Flexible Financing for Residential Solar Energy Solutions in Australia (SacBee)
SunPower Corporation (NASDAQ:SPWR), a leading solar technology and global energy solutions provider, today introduced the SunPower Solar Loan for homeowners in Australia. Affordable payment options are designed to help customers finance a high efficiency, residential SunPower 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.
When Will We See the Next Big Solar IPO? (DailyFinance)
Earlier this month there were rumors floating through the industry that downstream solar company Sunrun was for sale. Power Intelligence reported that Goldman Sachs Group, Inc. (NYSE:GS) had been hired to do a “strategic evaluation” of the company, sparking hope that another downstream solar company may come public after the solid success SolarCity Corp (NASDAQ:SCTY) has had on the market. Alas, Sunrun isn’t for sale or planning an IPO. Yesterday, I had a chance to talk to co-CEO Edward Fenster about the rumors, what may prompt the company to go public in the future, and how the company is different from other companies participating in the residential solar market in the U.S. Let’s start with the beginning and learn a little bit about how Sunrun is — and isn’t — similar to its public competition.
First Solar inks deal for midsize California plant (BizJournals)
First Solar, Inc. (NASDAQ:FSLR) has signed a deal for the City of Roseville, Calif., to buy power from a new 32-megwatt solar plant. The Tempe-based solar developer (Nasdaq: FSLR) signed a 10-year, $24 million power purchase agreement with Roseville that will have power form the Lost Hills plant in Kern County, Calif., going to the city. The project will start construction next year. “We are proud to add this project to Roseville Electric’s portfolio,” said Brian Kunz, First Solar, Inc. (NASDAQ:FSLR)’s Vice President of Project Development.
SunPower Corp. (SPWR) Announces Financing for Australia Customers (StreetInsider)
SunPower Corporation (NASDAQ:SPWR) today 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.
