Monday, April 30, 2012

SolarCity Plans IPO

San Mateo-based SolarCity, which provides financing for solar power project installation through residential power purchase agreements (PPAs), said today that it has filed for an IPO, currently being reviewed by the SEC. SolarCity said it submitted a draft registration statement on Thursday, April 26th. The S-1 filing has not yet been made available to the public, and SolarCity did not say how many shares of stock or how much it hopes to raise on the market. SolarCity provides financing to homeowners to install photovoltaic solar power systems.