Wednesday, November 18, 2015

SolarCity Raises $113M From Silver Lake, Others

San Mateo-based solar power financing and installer SolarCity said today that it has raised $113M in a strategic investment round, which came via Silver Lake Kraftwerk. Silver Lake Kraftwerk is investing $100M in SolarCity's Zero Coupon Convertible Senior Notes, with SolarCity's Elon Musk investing $10M, and CEO Lyndon Rive contributing $3M to the convertible debt. The companies said that Silver Lake Kraftwerk's investment is almost quadruple the size of its initial investment in SolarCity back in 2012.