Published on December 16th, 2013 | by Zachary Shahan0
SolarCity’s Zep Solar Acquisition Finalized
SolarCity’s acquisition of Zep Solar, which I wrote about in October, has now been finalized. The total price tag is reportedly $158 million, part of which was in the form of 2.75 million shares of SolarCity common stock. Currently, SolarCity stock is selling for $51.30 per share.
Zep Solar will now be independently operated within SolarCity, and its chief executive, Mike Miskovsky, will continue to run things there.
There’s not really much new to report here, so check out the October article on this story for more if you missed it: “SolarCity Acquires Zep Solar To Bring Installation Costs Down, Anticipates ~80% More Installations In 2014.”
Other very notable stories from SolarCity in recent months include that SolarCity is aiming for 1 million customers by 2018, it has acquired Paramount Solar, it has teamed up with Viridian Solar, it has launched a solar + energy storage package for businesses, and it has issued the first asset back notes for the solar industry.