Seeking Alpha

SolarCity soars after announcing new financing deal

  • SolarCity (SCTY +13%) and residential/commercial energy services provider Direct Energy have created a $124M fund to finance solar projects for Direct Energy clients. Direct Energy will contribute up to $50M. (PR)
  • Buyers will have the option to either pre-pay for solar electricity, or make a monthly payment that takes into account services such as installation, insurance, repairs, and monitoring.
  • SolarCity definitely hasn't been gun-shy about striking financing deals. The company has announced a series of debt and stock offerings in recent months, as well as a $500M+ financing deal with Goldman.
Comments (1)
  • Glenn Abrett
    , contributor
    Comments (1371) | Send Message
    SCTY seems the most hopeless of stocks. How can this company ever justify its market cap? Two words. Elon Musk. The man does business at a different level than anyone alive. The business savvy -- the money savvy, the tech genius, the power of his leadership to get folks to put their arms in the fire up to their elbows for him, the marketing genius and the awesome track record to back it up. Bet against Musk at your own risk.
    10 Sep 2013, 12:05 PM Reply Like
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