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SolarCity to Install 3.4 Megawatts of Capacity at Air Base

July 3 (Bloomberg) -- SolarCity Corp., the rooftop power producer that’s tripled in value this year, will install 3.4 megawatts of capacity at a military housing site in New Mexico.

The project at Holloman Air Force Base will comprise more than 600 homes and is part of the company’s SolarStrong program to power 120,000 military residences, according to a statement today from San Mateo, California-based SolarCity. Similar projects are being built on bases in Texas, Hawaii and Colorado.

The rooftop power systems will help the U.S. Defense Department reach a goal of generating 25 percent of its energy from renewable sources by 2025, according to the statement.

SolarCity slipped 0.7 percent to $37.49 at the close in New York. It’s quadrupled since its $8 initial public offering in December.

To contact the reporter on this story: Justin Doom in New York at jdoom1@bloomberg.net

To contact the editor responsible for this story: Reed Landberg at landberg@bloomberg.net

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