Another interesting tidbit of information coming out of Tesla’s SEC filing for its proposed acquisition of SolarCity yesterday – following our reports about Tesla’s board first turning down the merger and Tesla planning another round of financing – now we learn that the Rive Brothers are going to forfeit over $100 million worth of stock options through the merger. expand full story
Lyndon Rive Stories September 1, 2016
Lyndon Rive Stories December 15, 2015
Democrats are said to be willing to agree to a lift on the 40-year ban on US crude oil exports, if the bill includes a long-term extension of the wind and solar tax credits. The deal isn’t done, but as the industry is getting closer to the phasing out of the tax credits, which are set to fall from 30% to 10% in 2017, the industry is warning politicians about the impact of inaction. expand full story
Lyndon Rive Stories November 18, 2015
Elon Musk invests in SolarCity (again) with Rive and Silver Lake – $113 million total
During the past few months, rooftop solar installer SolarCity has been watching its stock price plummet, along with most of the solar industry. During the past week, Chairman Elon Musk bought 3 blocks of shares between $25.20 and $26.45 to add over 500,000 shares to his now total of 21.3 million shares or about 21% of the company.
Now just a few days after the disclosure of the stock purchase, we learn through a press release from Silver Lake Kraftwerk that Musk invested an additional $10 million in the company through convertible senior notes along with $100 million from Silver Lake and $3 million from SolarCity CEO and Musk’s cousin, Lyndon Rive.
Lyndon Rive Stories August 28, 2015
Yesterday SolarCity released a SEC filing listing the milestones its co-founders need to achieve to vest tranches of shares of their new performance-based compensation plan. The milestones reveal some ambitious goals for the solar installer.
For example, the first milestone is to achieve a cost of production of $0.50/Watt for solar modules with at least 20% efficiency. expand full story
Lyndon Rive Stories July 11, 2015
A great ground look at what’s happening in Hawaii, the state where energy costs the most and where there is plenty of solar energy. Over 12% of Hawaiians have solar power which is 20x the US national average. If you count all the rooftops on Oahu together, Solar is a 300MW plant that is more than double the size of the next biggest plant on the island.
The problem is: That power plant dies when the sun goes down and the other plants have to crank way back up. expand full story