SolarCity raises $345 million to finance new Solar Projects ahead of Tesla merger vote
Today, SolarCity announced the closing of $345 million in tax equity from 4 undisclosed partners in the last two months in order to finance new Solar Projects. The money will be used directly to cover the capital cost of new equipment and installations of solar projects in the US.
The announcement is made as the solar installer is still considering the proposed acquisition offer from Tesla valuing the company at about $2.8 billion. SolarCity says it managed to raise over $1.5 billion to date in 2016.