Exhibit 99.1


 

VIVINT SOLAR reports SECOND QUARTER 2018 RESULTS

 

 

LEHI, Utah, August 7, 2018 -- Vivint Solar (NYSE: VSLR), today announced financial results for the second quarter ended June 30, 2018.

 

Second Quarter 2018 Operating Highlights

 

Key operating and development highlights include:

 

 

MWs Booked of approximately 64 MWs for the quarter.

 

 

MWs Installed of approximately 47 MWs for the quarter. Total cumulative MWs installed were approximately 952 MWs.

 

 

Installations were 6,678 for the quarter. Cumulative installations were 139,321.

 

 

Estimated Retained Value increased by approximately $112 million during the quarter to approximately $1.8 billion. Estimated Retained Value per Watt at quarter end was $2.06.

 

 

Cost per Watt was $3.11, a decrease from $3.15 in the first quarter of 2018 and an increase from $2.88 in the second quarter of 2017.

 

Financing Activity

 

As of June 30, 2018, the company had $375 million in undrawn capacity in the aggregation facility and approximately 62 MWs of available installation capacity remaining in its tax equity funds. Subsequent to quarter end, the company closed a new tax equity partnership with a $50 million commitment that will fund the installation of approximately 32 MWs with a new tax equity investor. In addition, the company entered into a project financing transaction with a total commitment of up to $327 million for 95 MWs of new residential installations.

 

 


The following information was filed by Vivint Solar, Inc. (VSLR) on Tuesday, August 7, 2018 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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