Acquisition announced for solar power supplier Vivint Solar
On July 20, SunEdison, the world's biggest renewable energy development firm, along with TerraForm Power, an owner and operator of clean energy power plants, announced the acquisition of Vivint Solar, a major supplier of residential solar systems in the U.S.
The merger will be worth approximately $2.2 billion in cash as the two major solar companies acquire the residential solar firm. Additionally, SunEdison has agreed to enter a power purchase agreement with TerraForm Power. Roughly 523 megawatts of solar power will be installed by Vivint Solar by the end of 2015, which will now all be moved over to SunEdison.
Through the $922 million power agreement, TerraForm Power will install the solar panels for residential solar protections through a "10-year average levered cash-on-cash yield of 9.5 percent," the release stated. Also, TerraForm Power will obtain future small commercial solar and completed residential projects from SunEdison's Residential and Small Commercial business unit. Cont'd...
Records 1 to 1 of 1
Featured Product

Nature's Generator MyGrid 10K
A 10,000W plug & play whole-home generator with a 10kWh LiFePO4 battery for reliable backup power. Features easy setup, flexible 120V/208-240V input, and solar/wind charging. Expandable with extra batteries or solar panels, and can pair two units for 20,000W for even larger energy needs. Powers your home during power outages, reduces electricity costs, and supports sustainable energy.