Tesla confirms US$2.6 billion all-stock buyout of SolarCity

LinkedIn
Twitter
Reddit
Facebook
Email

The all-share deal is over US$300 million less than the value initially announced. Source: Tesla.
Tesla Motors’ possible acquisition of leading US residential PV installer SolarCity has been sealed with an all-stock transaction valued at around US$2.6 billion.

Management of both companies have approved the deal, although SolarCity has been granted a 45-day timeline to potentially seek alternative buyers, though a deal would lead to SolarCity paying Tesla a termination fee of US$78.2 million.

However, should a third party make an alternative acquisition proposal prior to the expiration of the 45-day ‘Go-Shop’ period, SolarCity will be required to pay Tesla a termination fee of US$26.1 million.

SolarCity also announced that continued market demand weakness through the first half of 2016 that would result in lower than expected full year installations.

This article requires Premium SubscriptionBasic (FREE) Subscription

Enjoy 12 months of exclusive analysis

Not ready to commit yet?
  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Annual digital subscription to the PV Tech Power journal
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

The all-share deal is over US$300 million less than the value initially announced.

Read Next

August 28, 2025
California utility Pacific Gas and Electric (PG&E) has pushed back recommissioning of the Elkhorn battery energy storage system (BESS) by approximately one year, to 30 June 2026.
Premium
August 27, 2025
We catch up with the CEO of BESS developer Harmony Energy about its strategy and plans going forward, following the sale of its affiliated Harmony Energy Income Trust (HEIT).
August 21, 2025
ACE Power has confirmed the sale of the 103MW/206MWh Kerang grid-forming BESS in the Loddon Valley region of Victoria, Australia.
August 19, 2025
Hithium has partnered with The Imperial Electric Company to deliver 1GWh of energy storage across Pakistan’s residential and C&I sectors.
August 14, 2025
Governor of Maryland, US, Wes Moore, has announced a US$2 million initiative to make battery storage more accessible for residents and business owners in the state.

Most Popular

Email Newsletter