Solyndra: Hot Cleantech Company Looks for an IPO

Founded in 2005, Solyndra has built solar technologies that get energy from commercial rooftops. All in all, the company has a cost-effective solution, in terms of production of the photovoltaic system as well as the installation. By 2012, Solyndra believes that it will be able to produce electricity at rates that are competitive with traditional retail solutions -- without a need for subsidies.

In fact, Solyndra is already generating substantial revenues since beginning shipping its products in mid 2008. For the first nine months of this year, the company has posted revenues of $58.8 million, which is up from $6 million in the prior fiscal year. There are more than 100 installations across the globe so far.

With the IPO proceeds, Solyndra plans to build out a next-generation facility to produce large numbers of photovoltaic systems. Already, the company has secured a $535 million loan guarantee from the U.S. Department of Energy.

No doubt, the market is massive. The global commercial rooftop size is roughly 11 billion square-feet across the globe. And, according to a report from the National Renewable Energy Laboratory, rooftop photovoltaic system installations are expected to grow at 34% per year until 2015.

The lead underwriters on the IPO include Goldman Sachs (GS) Morgan Stanley (MS).

Tom Taulli advises on business tax preparation and resolving tax problems. He is also the author of a variety of books, including the including The Complete M&A Handbook. His website is at Taulli.com.