solar bonds Stories April 14, 2017

Update: the article has been updated to reflect the fact that while Musk’s and the Rive brothers’ solar bonds were discharged like everyone else’s, they were transferred to regular bonds under the same terms.

SolarCity launched a Solar Bond Program in 2014. It was presented as an interesting way for people to invest in solar with minimum cost requirements and without having to install panels on their roof. Elon Musk himself, his cousins and SolarCity co-founders Lyndon and Peter Rive, and Musk’s rocket company, SpaceX, ended up being the biggest buyers in the program.

Now we learn that Tesla is discharging most of its solar bonds ahead of the maturity date and paying back all the principal with interests for the life of the bonds – though not for Musk and his cousins. expand full story

solar bonds Stories March 22, 2016

SolarCity’s Solar Bond Program is looking more and more like SpaceX’s private investment platform. After market close yesterday, SolarCity revealed in a SEC filling that it expects Elon Musk’s rocket company to buy $90 million of the $105 million in new Solar Bonds issued.

Last year, SpaceX already purchased solar bonds from SolarCity on two separate occasions: another $90 million followed by $75 million. SpaceX’s involvement in SolarCity’s Solar Bond Program is set to total around $255 million, which should help finance a lot of solar installations. expand full story

solar bonds Stories September 2, 2015

SolarCity creates a new $400 million fund to finance more solar installations

SolarCity announced today the closing of a new fund to finance $400 million in solar projects. The company, which recently acquired Mexico-based solar installer ILIOSS, has been perfecting the art of raising money for solar installations and now says it has raised enough funds to finance more than $9 billion in solar projects.

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