Confirmed: SunEdison Buys Out Vivint Solar
Confirmed: SunEdison buys out Vivint Solar - SunEdison Inc (SUNE.N) agreed to buy Vivint Solar Inc (VSLR.N), the second-biggest U.S. solar panel installer (second only to SolarCity) in a deal valued at about $2.2 billion, speeding up its expansion in the booming residential solar market.
Demand for Vivint's residential solar systems has soared as the company that went public last October allows homeowners to lease its systems rather than buying them outright. A decline in equipment costs has also helped.
The distributed generation business, or power produced for local consumption, is expected to contribute about 28 percent of SunEdison's 2016 revenue, post acquisition, from an estimated 18 percent in 2015, S&P Capital IQ analyst Angelo Zino said.
Read the Full story HERE - Reuters
Demand for Vivint's residential solar systems has soared as the company that went public last October allows homeowners to lease its systems rather than buying them outright. A decline in equipment costs has also helped.
The distributed generation business, or power produced for local consumption, is expected to contribute about 28 percent of SunEdison's 2016 revenue, post acquisition, from an estimated 18 percent in 2015, S&P Capital IQ analyst Angelo Zino said.
Read the Full story HERE - Reuters
Vivint Solar
Vivint Solar, Inc. is an American solar energy company. Vivint Solar went public in 2014 with an IPO starting at $16/share.[1] Vivint Solar is publicly traded on the New York Stock Exchange. It was launched in 2011 by its parent company Vivint, Inc.[2] as a solar electricity provider that designs, installs, and maintains the residential photovoltaic system.
Vivint Solar operates in seven states (Arizona, New Jersey, Massachusetts, Hawaii, Maryland, New York and California), and the District of Columbia,[3] with expansive marketing programs in those markets.[4][5] According to GTM Research, Vivint Solar was the number two residential solar installer in the United States in 2013.[6] The company installs solar panels at no cost to the homeowner, via a power purchase agreement (PPA).[7]
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Vivint Solar operates in seven states (Arizona, New Jersey, Massachusetts, Hawaii, Maryland, New York and California), and the District of Columbia,[3] with expansive marketing programs in those markets.[4][5] According to GTM Research, Vivint Solar was the number two residential solar installer in the United States in 2013.[6] The company installs solar panels at no cost to the homeowner, via a power purchase agreement (PPA).[7]
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