SolarCity to acquire Silevo, plans 1-GW plant

SolarCity wants to build one of the world's largest solar plants in the state of New York. / Business Insider — SolarCity wants to build one of the world’s largest solar plants in the state of New York. / Business Insider

By Stephen Lacey | Greentech Media

SolarCity, the biggest residential solar installer in the U.S., said this morning that it plans to acquire high-efficiency solar manufacturer Silevo for $168 million in stock, $9 million in cash, an assumption of $23 million in liabilities. SolarCity could dish out another $150 million in stock if production targets are hit.

When the acquisition closes, the company will join First Solar, SunPower and SunEdison as the only U.S.-based companies that have achieved full integration across manufacturing, sales and installation.

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June 17, 2014

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SolarCity to acquire Silevo, plans 1-GW plant

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