Tesla acquires solar energy provider Solarcity for $2.6 billion

Tesla has officially acquired SolarCity for $2.6 billion, bringing Elon Musk's two companies under one roof.

Solarcity is the provider of solar energy services, headquartered in San Mateo, California.

Tesla said, “We’re pleased to announce that Tesla’s acquisition of SolarCity closed this morning.”

However, even before the official announcement arrived, the acquisition was very much obvious when over 85 percent of Tesla shareholders approved the deal last week, which was first announced by Musk back in August.

Last week, Tesla said that merging the two companies would allow them to scale their battery and solar energy operations. The resulting firm would be "the world's only vertically integrated sustainable energy company."

According to the Verge report, "joining the two entities is central to the continued execution of Musk's “Master Plan,” which aims to provide customers with full-stack solutions for owning their own energy production, storage, and consumption."

Apart from the announcement, the companies are yet to shed light on their future plans.