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Wednesday, 8 August 2012

$64 MIL FROM BANKS TO BACK SUN INSTALLER

Posted on 05:04 by Unknown
Borrego Solar Creates $64.4 Million Solar Project Fund Backed By Two Large Banks

31 July 2012 (Solar Industry)

“Borrego Solar Systems, Inc., a designer, installer and financier of grid-tied solar photovoltaic systems, has closed a new $64.4 million fund to finance solar energy projects for corporate, education and municipal customers.”

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“Minneapolis-based U.S. Bank and Washington, D.C.-based National Cooperative Bank (NCB) invested in the new fund, which is Borrego Solar's largest since 2009 and brings its total amount of capital raised to over $225 million…[T]he fund will be used to build more than 18 MW of solar energy systems, totaling eight projects, including four municipal landfill installations and one school district…”

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