Tesla has just put in an offer to acquire SolarCity

Johana Bhuiyan for Recode:  Tesla’s board of directors has just sent an offer to acquire SolarCity to the company’s CEO. In other words, the electric car company Elon Musk is the CEO of just offered to buy the solar company Elon Musk is the chairman of.

In the letter, sent to SolarCity co-founder and CEO Lyndon Rive, Tesla’s board of directors offered to buy all of SolarCity’s remaining common stock in exchange for Tesla’s common shares. That’s $26.50 to $28.50 a share, according to the board.

The stock-for-stock deal amounts to about $2.8 billion based on where Tesla stock was trading before the proposal was announced.

As of yesterday, Musk personally owns 22,160,370 shares of SolarCity. So if the respective boards of each company approves the acquisition, Musk would personally reap $587,249,805 to $631,570,545.

Tesla’s move to acquire the solar company will help Musk in his goal of accelerating the world’s transition to using completely sustainable fuels in transportation.  Cont'd...

Texas Parks And Wildlife Makes The Switch To Solar Power Thanks To Alba Energy

Sea Center Texas Is Now Powered By A Rooftop Solar Panel Installation Thanks To Alba Energy

GE Completes Domestic Compliance for Solar and Wind Inverters in Brazil

In Addition to Serving Local Needs, the Company is Contributing to the Growth of the Renewable Energy Market in Brazil

2016: Global solar boom, European demand slowing

Solar becomes cost-leading power generation technology, new installations smashing previous records.

Conference General Chairman Professor Marko Topič opened the EU PVSEC 2016 Conference on Monday, 20 June 2016 in Munich, Germany

• More than 1,000 scientific presentations from 90 countries • Solar PV has become a key energy technology, with 100 GW installed in Europe • Technology and market innovations for PV after Paris COP 21

Blade Repair Skills Shortage to Hamper UK Offshore O&M Market

Blade repair and inspection specialist, Altitec, highlights shortfall in trained technicians and a growing skills gap with implications on long-term project performance

AUO Announces New P-type Mono-crystalline Solar Module with Impressive Power Output

This new SunVivo P-type mono-crystalline module applies an advanced light capturing technology with enhanced material design to reach an impressive power output of 314.8W, gaining at least 2% more power than conventional P-type counterparts.

Jefferson County Community Solar Garden 'Flips the Switch'

SunShare and Array Technologies join forces to provide sun-powered savings

Over 150 Attend Composites in Wind Workshop in Boulder, Colorado

Two-Day Session led by Composites One, Closed Mold Alliance, MVP and IACMI-The Composites Institute, in Cooperation with National Renewable Energy Laboratory (NREL)

Ecoppia Announces New VP Asia Markets, India Expansion

Following soaring demand, new VP to lead build-out of Ecoppia's Asian operations

2017 International Solar Building Design Competition, sponsored by Delta Foundation, Launched in Beijing

In light of the global challenge of aging population, the competition's theme promotes sustainable buildings capable of enhancing the wellbeing of senior citizens. The competition's executive committee has selected Shanxi's Xian and Fujian's Dehua as locations for the building of two new residences for the elderly respectively, thus, inviting optimized architectural design proposals from all over the world to participate in the event.

Wave & Tidal Energy Event - Final Announcements!

The UK Marine Energy Conference 2016 focuses on accelerating wave and tidal energy as viable energy alternatives, whilst maintaining the UK & Ireland's position at the forefront of marine energy development.

Intersolar - Aquion Energy Introduces 24-Volt Version of Industry-Leading Aspen Battery System

Aspen 24S battery offers robust, sustainable solution for off-grid applications

ABB inverter dramatically boosts performance of solar power installations

ABB starts shipping a central inverter, an essential component in every solar installation, with a 40 percent increase in power density

Support for Offshore Turbine Yearbook

Natural Power sponsors Offshore Turbine Yearbook launching at Global Offshore Wind 21st June 2016.

Records 856 to 870 of 22389

First | Previous | Next | Last

Solar & Wind - Featured Product

Seaward PV210 Solar Installation Test Kit

Seaward PV210 Solar Installation Test Kit

The Seaward Solar PV210 PV installation tester provides a highly efficient and effective test and diagnostic solution for PV systems, carrying out all commissioning tests required by IEC 62446 and performing fast and accurate measurement of I-V curves in accordance with IEC 61829. With direct connection to individual PV modules or strings using the supplied lead sets, tests can be conducted easily and within a matter of seconds at the press of a single button.