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To: 2MAR$ who wrote (57150)

6/17/2014 10:16:14 AM

From: 2MAR$

Respond to of 57684

:		SolarCity says paying up to $350M to acquire Silevo
		SolarCity announced earlier that it has signed an agreement to acquire solar panel technology and manufacturing company Silevo. In slides related to the acquisition, SolarCity says the transaction has a value of $200M with up to $150M in earn-outs based on volume and cost targets. The upfront investment is composed of $168M in stock, the assumption of $23M in liabilities, and $9M in cash, though the cash portion is subject to change prior to closing. SolarCity sees the transaction to be accretive with payback of 3-4 years once at scale vs. module market price. SolarCity sees its manufacturing capacity allowing it to create "the most vertically integrated solar company" with an "industry-leading" cost structure that aims to make solar competitive with grid costs. SolarCity says Silevo's current manufacturing facility is operating at a 32MW capacity and shipping UL listed, CEC verified modules