(Reuters) – SunPower Corp (SPWR.O: Quote, Profile, Research, Stock Buzz) said it sold two solar projects in California to a company controlled by Warren Buffett’s Berkshire Hathaway Inc (BRKa.N: Quote, Profile, Research, Stock Buzz), and would receive up to $2.5 billion in proceeds and related contracts.
Berkshire utility MidAmerican Energy Holdings Co will pay SunPower between $2.0 billion and $2.5 billion for the 579-megawatt (MW) Antelope Valley solar projects and for designing, installing and constructing them, the company said in a regulatory filing on Wednesday. (link.reuters.com/bag94t)
LOS ANGELES (Reuters) – U.S. business executives are holding out hope for an eventual deal to avert the impending “fiscal cliff” despite negotiations having stalled ahead of the Christmas holiday.
Corporate America, still reeling from the effects of the recent recession, is on edge as it watches from the sidelines the tense talks between President Barack Obama and Republican House of Representatives Speaker John Boehner.
The solar installer had a difficult journey to becoming a public company this week, but the deal is viewed as a success in the beleaguered clean energy technology industry and good news for start-ups hoping to ride its coattails to public offerings next year.
(Reuters) – Shares of SolarCity Corp (SCTY.O: Quote, Profile, Research, Stock Buzz) jumped nearly 50 percent during their market debut on Thursday, a day after the company was forced to slash its IPO price to attract investors skittish about putting money into the volatile clean technology industry.
The solar panel installer’s stock rose 47.4 percent to close at $11.79. It hit a session high of $12.70, just 30 cents shy of the low end of the company’s original proposed pricing range.
Dec 13 (Reuters) – Shares of SolarCity Corp jumped
more than 50 percent during their market debut on Thursday,
approaching the valuation the solar power company had sought
before it was forced to slash its IPO price.
In early afternoon trading, the solar panel installer’s
stock was up 51 percent at $12.10. It hit a session high of
Dec 12 (Reuters) – SolarCity Corp, the top U.S.
installer of residential solar systems, slashed the expected
price of its initial public offering and said it would sell more
shares a day after an underwriter said the deal had been
The move values the Elon Musk-backed startup at $585
million, almost half its earlier proposed valuation of nearly $1
(Reuters) – Solar panel installer SolarCity Corp (SCTY.O: Quote, Profile, Research, Stock Buzz) has postponed its initial public offering scheduled to price on Tuesday, according to an underwriter and a market source.
The San Mateo, California-based company had intended to price 10.1 million shares at a range of $13 to $15.
LOS ANGELES (Reuters) – Hollywood producer Jeffrey Katzenberg received an honorary Oscar for his charitable work on Saturday at a star-studded gala that kicked off the movie awards season and bestowed film industry gold on three other industry veterans.
The Academy of Motion Picture Arts and Sciences annually hands out its Governors Awards to people who have made an impact on Hollywood.
LAGUNA HILLS, California (Reuters) – Southern California Edison officials faced tough questions from the Nuclear Regulatory Commission on Friday at a packed public meeting during which the utility laid out its case to restart the damaged San Onofre nuclear power plant.
San Onofre, which sits on the Southern California coast halfway between Los Angeles and San Diego, has been closed since January after workers discovered a small radioactive steam leak at one of its two reactors that indicated accelerated degradation of tubes in the plant’s new steam generators.
LOS ANGELES (Reuters) – Sprint Nextel Corp unveiled on Thursday an in-vehicle communications and entertainment system it hopes automakers will adopt as they seek to attract younger, more connected consumers.
Sprint Velocity allows drivers to connect mobile phones to their vehicles through Bluetooth, providing access to a range of applications, including voice-activated texting and email, navigation, news and sports updates and music.