SolarCity expects Silevo 1GW fab to cost up to US$450 million
Post Date: 26 Aug 2014 Viewed: 314
SolarCity’s plans to build a 1GW integrated PV manufacturing plant based on the technology it has recently acquired with the purchase of Silevo are expected to require capital expenditures of US$400 million to US$450 million, according to Deutsche Bank analyst, Vishal Shah after attending a SolarCity investor event.
The Deutsche Bank analyst said in a research note to investors that SolarCity’s plans to bring online the largest PV manufacturing plant in the US remained on track for 2016, with negotiations with NY State on the right incentive packages, ongoing.
SolarCity expects its own capital expenditure contribution for the new facility to be in the several hundred million range, according to Deutsche Bank, which suggested the company would need to make a secondary public offering of shares by the end of the year to support the expenditure requirements.
The Deutsche Bank analyst also noted that it expected SolarCity to continue to experience “strong near term bookings momentum,” which could result in the company raising its 2015 deployed guidance above the 900MW to 1,000MW current guidance range.