SolarCity is expecting capital expenditures of US$400-450 million for building a 1GW integrated PV manufacturing plant based on the technology it has recently acquired with the purchase of Silevo, according to Deutsche Bank analyst, Vishal Shah, after attending a SolarCity investor event.
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Shah 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. Shah 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.
Since SolarCity expects its own capital expenditure contribution for the new facility to be in the several hundred million range, Deutsche Bank suggested the company to make a secondary public offering of shares by the end of the year to support the expenditure requirements.
Source: SolarCity expects Silevo 1GW fab to cost up to US$450 million