SolarCity files for IPO as PV industry waits for turnaround

SolarCity

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Karl-Erik Stromsta

 Monday, October 08 2012

Updated: Sunday, November 25 2012

California’s SolarCity, the leading player in the US solar-lease market, has filed plans with regulators to raise up to $201m million in an initial public offering seen as having outsized consequences for battered clean-tech stocks.

The IPO will see SolarCity shares traded on the Nasdaq exchange under the ticker symbol SCTY, and reportedly may value the company at more than $1.5bn.

The filing comes at a time when many renewables companies are delaying or shelving their IPO plans until market sentiment towards the clean-tech space improves. Last week Brazilian wind developer CPFL Renovaveis shelved its IPO plans, mirroring US concentrating solar power specialist BrightSource Energy’s decision earlier this year.

If SolarCity’s IPO is seen as successful, many observers will take it as evidence that…

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