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SolarCity Corp
SCTY will develop up to 100 single-megawatt community solar installations in Minnesota's Wright and Sherburne counties, the company said Wednesday.
http://www.solarcity.com/newsroom/press/solarcity-introduces-its-first-community-solar-option-renters
The project might represent an 8 percent increase to the roughly 1,200 megawatts currently deployed by the
the San Mateo, California-based affiliate of Tesla Motors Inc
TSLA.
Solar City said the Minnesota project, in partnership with Xcel Energy Inc
XEL, aims to allows renters, schools and municipalities purchase solar power without installing solar panels on their properties.
Separately, on Tuesday Solar City said it will sell $35 million in Solar bonds under a larger program unveiled last year.
https://www.sec.gov/Archives/edgar/data/1408356/000156459015005102/scty-8k_20150616.htm
The company started selling its bonds directly to the public last year. Elon Musk's Space Exploration Technologies Corporation acquired $90 million of the bonds in March.
https://www.sec.gov/Archives/edgar/data/1408356/000156459015002138/scty-8k_20150330.htm
The instruments pay interest from 2 percent to 5.75 percent depending on maturity, and are not publicly tradable.
https://solarbonds.solarcity.com/available-bonds/
Bloomberg said last month that SolarCity is turning to the bond market as a means to replace tax credits that are set to be discontinued.
http://www.bloomberg.com/news/articles/2015-05-19/solarcity-turns-to-bond-market-to-fill-tax-credit-funding-void
SolarCity changed hands recently at $255.54, up nearly 1 percent.
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