Vivint Solar acquisition accomplished, Sunrun now has over 3 GW of residential solar assets under its portfolio and boasts of a customer tally of more than 500,000 customers. (Photo Credit: Sunrun Inc.)
- Sunrun has completed its acquisition of Vivint Solar for a total of $3.2 billion
- It takes the company’s enterprise value to around $22 billion and altogether, Sunrun will trade on the NASDAQ under the ticker RUN
- Vivint Solar will initially work as a Sunrun company and integrated into Sunrun over the next several quarters
Sunrun Attempting What SunEdison Couldn’t Accomplish—To Acquire Vivint Solar For $3.2 Billion To Grow Overall Portfolio To Over 3 GW
(08. July 2020)
Leading US residential solar, battery storage and energy services company Sunrun has completed its planned acquisition of fellow residential solar company Vivint Solar, and has accomplished what SunEdison once tried to attempt (see Sunrun To Acquire Vivint Solar For $3.2 Billion).
With this acquisition Vivint Solar employees and its customers are now part of Sunrun that now owns over 3 GW of residential solar energy assets in the country and a customer tally of more than 500,000 customers. Sunrun says it now has a market capitalization of close to $17 billion and an enterprise value of around $22 billion. The combined entity will trade on the NASDAQ under the ticker RUN.
In the immediate future, Vivint Solar will continue to operate as a Sunrun company and over the next several quarters it will be integrated into Sunrun that estimates annual cost synergies of approximately $90 million to be realized over the next 12 months to 18 months.
“Together, we will provide affordable, reliable and clean electricity at an exciting new scale. With our compelling services, millions of homeowners will rewire their homes with solar and batteries to enjoy enhanced comfort and affordability,” said Sunrun CEO Lynn Jurich. “The combined company benefits from broad market reach and differentiated consumer offerings. A lower cost structure from greater scale will accelerate the transition away from polluting and unreliable fossil fuels.”