Vivint Solar Acquired By SunEdison For $2.2 Billion
Lehi, Utah-based Vivint Solar, the residential solar power provider which was spun out of Vivint, has been acquired bby SunEdison for $2.2 billion in cash and stock, the companies said this morning. According to the companies, they are in a definitive merger agreement where SunEdison will acquire Vivint Solar for approximately $2.2 billion, payable in a combination of cash, shares of SunEdison common stock and SunEdison convertible notes. As part of the deal, SunEdison will sell off Vivint Solar's rooftop solar portfolio to TerraForm Power, for $922M in cash. Vivint Solar has a portfolio of 523 megawatts of installed residential solar power projects. The acquisition comes only nine months after Vivint Solar had its IPO, back in October of 2014.
posted on Monday, July 20, 2015
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