Close  

SolarCity, an installer, to buy panel-maker Silveo

/ 10:19 PM June 17, 2014

NEW YORK — SolarCity, one of the nation’s largest installers of rooftop solar systems, is buying Silveo, a solar panel manufacturer.

It’s the latest in a string of moves by solar power companies to engage in a broader part of the solar market, from manufacturing panels and modules to developing and financing projects to installing and building systems.

ADVERTISEMENT

The deal was announced Tuesday by SolarCity Chairman Elon Musk and executives Peter and Lyndon Rive on the company’s blog.

Terms of the deal were not disclosed.

Despite a global glut of solar panel manufacturing capacity, SolarCity said it is in discussions with the state of New York to build one of the largest solar panel production plants in the world over the next two years.

SolarCity shares were up almost 6 percent in morning trading Tuesday.

RELATED STORIES

New solar plant in Negros expected to meet power demand, reduce CO2 emissions in Visayas

As power rates rise, ‘solar panels’ a hit on Quiapo sidewalk

ADVERTISEMENT
Read Next
LATEST STORIES
MOST READ
Don't miss out on the latest news and information.
View comments

Subscribe to INQUIRER PLUS to get access to The Philippine Daily Inquirer & other 70+ titles, share up to 5 gadgets, listen to the news, download as early as 4am & share articles on social media. Call 896 6000.

TAGS: New York, Silveo, solar panel, SolarCity, United States
For feedback, complaints, or inquiries, contact us.
globalnation

‘False pride’: Palace memo on foreign aid, loans hit

September 22, 2019 05:15 AM

newsinfo

Polio blame game: PAO chief lashes back at ‘trolls’

September 22, 2019 05:10 AM

business

Ramon Ang rallies hunger champions

September 22, 2019 05:10 AM

lifestyle

It’s still paradise in Coron, despite the rains

September 22, 2019 05:10 AM



© Copyright 1997-2019 INQUIRER.net | All Rights Reserved

We use cookies to ensure you get the best experience on our website. By continuing, you are agreeing to our use of cookies. To find out more, please click this link.