Vivint Solar files for IPO: report

The parent company of Vivint Solar, the second largest US installer of residential rooftop PV systems, has confidentially filed for an initial public offering for its solar business that could happen as soon as this fall, according to a press report.

Vivint Solar’s parent Vivint Inc., itself owned by private-equity group Blackstone, has taken advantage of a relatively new US law that allows companies with annual revenues of less than $1bn to confidentially file IPO papers with the Securities and Exchange Commission, according to Reuters.

Reuters relied on unnamed “people familiar with the matter” for its story, adding that banks like Goldman Sachs have been brought on to help manage the flotation.

Vivint Solar trails only SolarCity in US residential rooftop installations, and the company has chalked up explosive growth since it was launched in 2011 by Vivint, one of the largest home automation and alarm companies in the US. The following year Vivint Inc. was acquired by Blackstone Group.

SolarCity went public in late 2012 at $8 a share, and has since become a darling of clean-energy investors, with shares now trading at $71 – giving it a higher market value than First Solar or SunPower.

Paul Dickson, Vivint Solar’s vice president of operations, was this summer named to Recharge’s 4040 initiative, as a global energy leader under the age of 40.