You have all heard the news by now. SunEdison is buying Vivint Solar, a story I covered in detail when they filed their S-1. The price tag, $2.2billion but let’s dig into that a bit. The development platform, SunEdison is buying the Vivint Solar platform for $777million and adding a $500million loan. This is most likely to pay off some of the debt that Vivint Solar had to Vivint. Terraform is acquiring the 2015 assets of Vivint Solar, a total of 523MW for $962million which equates to $1.84/watt for deals average $0.14/kWh. My first reaction is that this may be the largest addition of residential solar assets into a yieldco, at 9.5% cash on cash yield, a lucrative addition. Read the investor presentation here.
- New York Times: SunEdison to Buy Vivint Solar for About $2.2 Billion
- Fortune: Why SunEdison is buying Vivint Solar for $2.2 billion
- PV-Tech: Big UK solar support cuts imminent – reports
- Utility Dive: The Transportation Grid – How utilities can drive the future of transport
- Renew Economy: $1 trillion solar, wind finance to outstrip oil and gas industry
- Think Progress: Two Giant Israeli Solar Plants Will Soon Provide Nearly 2 Percent Of The Country’s Electricity
- Clean Technica: Utility Solar May Cost Less, But It’s Also Worth Less
- Wall Street Journal: Hanergy Cancels Deal with Parent Company to Buy Solar Panels
Opinions
Have a great day!
Yann