March 1, 2017 / 10:21 PM / 5 months ago

BRIEF-SolarCity reports FY 2016 net loss of $820.4 million

2 Min Read

March 1 (Reuters) - SolarCity Corp:

* Says FY revenue was $730.3 million versus $399.6 million last year

* Says FY net loss was $820.4 million

* SolarCity, owned by Tesla Inc, says its total consolidated indebtedness was $3,580.4 million as of December 31, 2016 - SEC filing

* Says anticipate significantly reduced expenditures related to manufacturing operations at Riverbend manufacturing facility in Buffalo, New York

* Says agreed to spend or incur about $5 billion in combined capital, costs in state of New York during 10-year period following full production of Riverbend manufacturing facility

* Says expect significantly reduced expenditures at Riverbend facility as a result of manufacturing relationship with Panasonic

* Says as of December 31, 2016, company had approximately 12,243 total employees compared with 15,273 total employees as of December 31, 2015

* Says anticipate commencing solar module and solar roof manufacturing in the second half of 2017 with photovoltaic cells sourced from Panasonic

* Says "working towards ramping production to 1 gigawatt of solar cell production by 2019"

* Says identified potential modifications to manufacturing equipment, factory layout related to solar cell manufacturing line at Buffalo Plant

* Says potential modifications to manufacturing equipment at buffalo facility may increase production capacity of facility above 1 gigawatt/year Source text: bit.ly/2mfAmdP Further company coverage:

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