SolarCity to acquire Paramount Solar

SolarCity (Nasdaq: SCTY) signed a definitive agreement to acquire the assets of Paramount Energy Solutions LLC, doing business as Paramount Solar, for approximately $120 million.

Under terms of the deal, SolarCity will acquire the business for $116.3 million in stock and the remainder in cash. Paramount Equity CEO Hayes Barnard will join SolarCity as chief revenue officer.

The deal is expected to close in September.

Read more mergers and acquisitions news

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now


Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...

Reduce Engineering Project Complexity

Engineering document management presents unique and complex challenges. A solution based in Enter...

Revolutionizing Asset Management in the Electric Power Industry

With the arrival of the Industrial Internet of Things, data is growing and becoming more accessib...